RAKBANK offers personal and business banking services throughout its 27 branches, in addition to Shariah-compliant services via its Islamic Banking unit, RAKislamic. RAKBANK recorded a 50% increase in net profit in 2021 compared to 2020, while customer deposits grew by $190.7 million to $10.3 billion. RAKBANK is 49.3% owned by the government of Ras Al-Khaimah. Raheel Ahmed became CEO in February 2022.