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

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).

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.

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