National Bank of Ras Al-Khaimah (RAKBANK)
Sector: Banks & Financial Services
Date of Establishment: 1976
Market Value: $1.8 billion
RAKBANK is 49.3% owned by the government of Ras Al-Khaimah and is publicly traded on ADX. The bank offers personal and banking services throughout 27 branches in the U.A.E. and employs over 3,400 people. It also offers Sharia-compliant personal and business banking services via RAKislamic. In 2020, the bank reported profits of $138 million, a drop of 53.9% from 2019. It also signed a 10-year strategic partnership with MetLife to provide life insurance solutions to customers. CEO Peter England has announced that he will retire in 2021.