Rakbank Overview
We are talking about the oldest bank of UAE that is known for offering a wide range of personal and business banking services throughout its 39 branches. It is also known as National Bank of Ras Al Khaimah (P.S.C) a Public Joint Stock Company headquartered in the emirate of Ras Al Khaimah, in the UAE. It's head office is in the RAKBANK building on Sheikh Mohammed Bin Zayed Road in Ras Al Khaimah.
When was it established?
The bank was established in the 1970s as the National Bank of Ras Al-Khaimah in UAE. The bank in 2001 decided to focus on retail and small businesses thus making a major transformation in its working from corporate banking. At present, the bank is functioning well with total assets of Dhs. 34.5 billion and having a network of 39 branches and 293 ATMs in the UAE. They also work with telephone, online and mobile banking services.
Among its recent activities, the bank went through a launch of Islamic Banking unit, RAKBANK AMAL in 2013 which was used to offer Sharia-compliant personal and business banking. In the next year, they acquired major stakes of Ras Al Khaimah National Insurance Company. The bank is 52.76% owned by the government of Ras Al-Khaimah and has its shares publicly traded on ADX.
What makes them special?
The bank is considered among the most dynamic banks of UAE and is also the oldest one on the list. They are also the member of UAE Banking Federation thus abide the UBF stipulated, customer Charter for all member banks.
They are on top for best practices across financial services and have clearly mentioned the guidelines about their work standards thus satisfying customer’s needs by offering convenient access to innovative and competitive financial products across multiple channels to individuals and businesses. Moreover, they respond to query raised through a digital channel within 1 working day and that sounds really quick service by the bank.
Achievements
The bank received the Best Internet Banking Initiative Award for Click and Collect at the Asian Banker-Middle East Retail Product Awards in 2014. They are also the recipient of Bank of the Year Award given away by Arabian Business Achievement Awards in 2012.
References
https://en.wikipedia.org/wiki/RAKBANKhttps://rakbank.ae/wps/portal/retail-banking/about-us