RAKBank charts post-Covid-19 recovery as Q1 net profit slides

RAKBank charts post-Covid-19 recovery as Q1 net profit slides

National Bank of Ras Al Khaimah reported a 26 per cent drop in first-quarter net profit but said it is on a "recovery path post-Covid".

Net profit fell to Dh113.9 million for the three months to the end of March, the bank said in a statement on Tuesday to the Abu Dhabi Securities Exchange, where its shares trade. Total income fell 20 per cent to Dh800.9m during the period.