National Bank of Ras Al-Khaimah (P.S.C.) Full Year 2024 Earnings: Misses Expectations

Simply Wall St

February 06, 2025

National Bank of Ras Al-Khaimah (P.S.C.) (ADX:RAKBANK) Full Year 2024 Results

Key Financial Results

Revenue: د.إ3.94b (up 16% from FY 2023).
Net income: د.إ2.07b (up 16% from FY 2023).
Profit margin: 53% (in line with FY 2023).
EPS: د.إ1.03 (up from د.إ0.89 in FY 2023).

RAKBANK Banking Performance Indicators

Cost-to-income ratio: 35.2% (down from 36.4% in FY 2023).
Non-performing loans: 2.25% (down from 2.75% in FY 2023).

revenue-and-expenses-breakdown — ADX:RAKBANK Revenue and Expenses Breakdown February 6th 2025

All figures shown in the chart above are for the trailing 12 month (TTM) period

National Bank of Ras Al-Khaimah (P.S.C.) Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) also missed analyst estimates by 2.8%.

The primary driver behind last 12 months revenue was the Business Banking segment contributing a total revenue of د.إ1.75b (45% of total revenue). The largest operating expense was General & Administrative costs, amounting to د.إ1.55b (83% of total expenses). Explore how RAKBANK's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Banks industry in United Arab Emirates.

Performance of the Emirian Banks industry.

The company's shares are up 2.0% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for National Bank of Ras Al-Khaimah (P.S.C.) (1 is significant!) that you should be aware of.

Valuation is complex, but we're here to simplify it.

Discover if National Bank of Ras Al-Khaimah (P.S.C.) might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.