Recent Research

• 

  FIRST LOOK NOTES

  26 Oct 2026

  RAKBANK

  ACCUMULATE

  Last Closing Price

  9.86

  Target Price

  11.00

  Upside (%)

  +11.56%

  UAE Equity Research - National Bank of Ras Al Khaimah (RAKBANK) 3Q26 - First Look Note

  Net advances increased 24.2% YOY and 9.5% QOQ to AED 63.6 Bn in 3Q26, supported by growth across Retail, Wholesale and Business Banking. Customer deposits increased 21.3% YOY and 5.9% QOQ to AED 79.6 Bn in 3Q26, supported by growth in time deposits.

  Download
• 

  FIRST LOOK NOTES

  27 Jul 2026

  RAKBANK

  ACCUMULATE

  Last Closing Price

  9.10

  Target Price

  10.00

  Upside (%)

  +9.89%

  UAE Equity Research - National Bank of Ras Al Khaimah (RAKBANK) 2Q26 - First Look Note

  Advances rose 19.4% YOY and 4.9% Q0Q to AED 58.1 Bn in 2Q26, driven by wholesale and retail loan growth, partly offset by lower business loans QOQ. Deposits rose 23.0% YOY & 1.1% QOQ to AED 75.1 Bn, driven by time deposit growth, partly offset by lower CASA deposits.

  Download
• 

  FIRST LOOK NOTES

  22 Apr 2026

  RAKBANK

  BUY

  Last Closing Price

  8.34

  Target Price

  10.00

  Upside (%)

  +19.90%

  UAE Equity Research - National Bank of Ras Al Khaimah (RAKBANK) 1Q26 - First Look Note

  The Bank recorded one-off gain of AED 473 Mn from the sale of its merchant acquiring business to Network International LLC. Net advances increased 16.4% YOY and 4.0% QOQ to AED 55.4 Bn in 1Q26, supported by broad-based lending growth across retail and corporate segments.

  Download
• 

  FIRST LOOK NOTES

  12 Feb 2026

  RAKBANK

  HOLD

  Last Closing Price

  9.85

  Target Price

  9.50

  Upside (%)

  -3.55%

  UAE Equity Research - National Bank of Ras Al Khaimah (RAKBANK) 4Q25 - First Look Note

  Gross advances grew 11.7% YOY and 3.9% QOQ to AED 55.9 Bn in 4Q25, supported by strong performance across business segments. Reported risk-adjusted NIM remained stable at 3.7% in 2025 compared to 2024, despite the impact of interest rate cuts.

  Download
• 

  FIRST LOOK NOTES

  27 Oct 2025

  RAKBANK

  ACCUMULATE

  Last Closing Price

  7.68

  Target Price

  8.60

  Upside (%)

  +11.98%

  UAE Equity Research - National Bank of Ras Al Khaimah (RAKBANK) 3Q25 - First Look Note

  Net advances grew 10.9% YOY and 5.3% QOQ to AED 51.2 Bn during 3Q25, supported by solid performance across all business segments. Between 2024 and 2025, RAKBANK increased its technology CAPEX by 47% and introduced new offerings, including crypto brokerage and escrow services.

  Download
• 

  FIRST LOOK NOTES

  23 Jul 2025

  RAKBANK

  HOLD

  Last Closing Price

  7.91

  Target Price

  8.60

  Upside (%)

  +8.72%

  National Bank of Ras Al Khaimah (RAKBANK)-2Q25 First Look Note

  Net advances grew 18.7% YOY and 2.3% QOQ to AED 48.7 Bn during 2Q25, supported by solid performance across all business segments. Asset quality slightly improved with the NPL ratio declining from 2.1% in 1Q25 to 1.9% in 2Q25.

  Download

Load more reports