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    RAKBANK   AEN000601015

THE NATIONAL BANK OF RAS AL-KHAIMAH (P.S.C.)

(RAKBANK)
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The National Bank of Ras Al Khaimah Signs A Memorandum of Understanding with Ajman Free Zone

07/05/2021 | 08:12am EDT

The National Bank of Ras Al Khaimah (RAKBANK) signed a Memorandum of Understanding (MoU) to form a Strategic Alliance with one of the leading investment destinations in the country, Ajman Free Zone. The signed MoU is in line with both the organizations' strategy of supporting SMEs and further developing a sustainable economy. As part of the deal, RAKBANK will offer SMEs and larger businesses that are based in the Ajman Free Zone easy and direct access to account opening services, loans, credit facilities, and other banking solutions. Among the products offered to Ajman Free Zone clients are the RAKstarter account, Business Current Account, as well as the priority service banking at preferential pricing called RAKelite Business. As for the financing products, the Bank will offer Business loans, Point of Sale financing, Term and Working Capital financing, Real state financing, Asset based financing, as well as Cash Management services. By working closely together, startups and businesses based in the Ajman Free Zone will benefit from the combined capabilities of RAKBANK's deep understanding of SME requirements, sophisticated data analytics to support SME's needs as well as digital prowess, and Ajman Free Zone's best-in-class expertise pertaining to setting up a business and know- how in customizing high-quality, tailored solutions for all clients to set up a sustainable business model.


ę S&P Capital IQ 2021
All news about THE NATIONAL BANK OF RAS AL-KHAIMAH (P.S.C.)
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07/05The National Bank of Ras Al Khaimah Signs A Memorandum of Understanding with Ajman Free..
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04/27The National Bank of Ras Al-Khaimah (P.S.C.) Reports Earnings Results for the First Qua..
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02/02The National Bank of Ras Al-Khaimah (P.S.C.) Recommends Distribution of Cash Dividend
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02/02The National Bank of Ras Al-Khaimah (P.S.C.) Reports Earnings Results for the Full Year..
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2020The National Bank of Ras Al Khaimah Partners with the Ministry of Finance
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2020The National Bank of Ras Al-Khaimah P.S.C. Reports Earnings Results for the Third Quart..
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More news
Financials
Sales 2021 3 364 M 916 M 916 M
Net income 2021 588 M 160 M 160 M
Net Debt 2021 - - -
P/E ratio 2021 11,3x
Yield 2021 4,55%
Capitalization 6 638 M 1 807 M 1 807 M
Capi. / Sales 2021 1,97x
Capi. / Sales 2022 1,85x
Nbr of Employees -
Free-Float 44,0%
Chart THE NATIONAL BANK OF RAS AL-KHAIMAH (P.S.C.)
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Technical analysis trends THE NATIONAL BANK OF RAS AL-KHAIMAH (P.S.C.)
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 3
Last Close Price 3,96 AED
Average target price 4,43 AED
Spread / Average Target 12,0%
EPS Revisions
Managers and Directors
Peter William England Chief Executive Officer
Deepak Majithia Chief Financial Officer
Mohammad Hassan Omran Al-Shamsi Chairman
Venkat Raghavan Chief Compliance Officer
Ahmed Issa Al-Naeem Independent Non-Executive Director