RAKBANK Investor Presentation - Q3/YTD Sep'2022
RAKBANK Investor Presentation - Q3/YTD Sep'2022
The UAE's leading SME lender's Institutional Strength
History
RAKBANK
Simply Better
Credit Ratings
•
•
Founded in 1976; listed on Abu Dhabi Securities Exchange (ADX) in 2005.
Headquartered in the emirate of Ras Al Khaimah ('RAK').
Rating Agency
Last Update
Deposits
Outlook
Moody's
May 2022
Baa1 / P-2
Stable
Major transformation in 2001, rebranding to RAKBANK and shifting focus from
Corporate Banking to Personal Banking and small business lending.
Fitch
April 2022
BBB+ / F2
Stable
•
27 branches¹ and 290 ATMs in the UAE
Launched Islamic Banking window - RAKislamic - in 2013.
Capital Intelligence
August 2022
A-/A2
Positive
•
The Government of Ras Al Khaimah directly and indirectly owns 52.8% of
RAKBANK's capital
.
Our branches are located across the Emirates.
Ownership Structure as of 30th September 2022
National
GCC
Source: ADX
Arabs
Others
1.3%
0.2%
14.5%
Subsidiaries
2
Subsidiary
RAK Insurance
Ownership
79.23%
Country
Purpose
UAE
Back Office Support Services
(BOSS)
80.00%*
UAE
Develop insurance products.
Provide back office support
services.
RAK Technology
80.00%*
UAE
Supply information technology
support.
RAKFUNDING CAYMAN LTD
100.00%
84.0%
RAK Global Markets Cayman
Limited
100.00%
Cayman
Islands
Cayman
Islands
Enable the issuance of bonds.
Facilitate treasury transactions.
RAK Financial Services
Limited
100.00%**
DIFC, UAE
Protego Insurance Brokers
100.00%***
UAE
Arranging & advising on Financial
products, Investments & Custody.
Insurance brokerage
Capital Adequacy
Total Capital Adequacy Ratio (CAR) as at 30th September 2022 is 17.0%: Common
Equity Tier 1 is at 15.9% and Tier 2 is at 1.1%.
*These represent legal ownership of the Bank. However, beneficial ownership is 100% as the remaining interest is held by a related party. **RAK
Financial Services Limited was incorporated under Dubai International Financial Centre ("DIFC").
DIFC's approval for commencement of business and capital infusion was received in June 2022 and capital of USD 1.3 million was subscribed
during June 2022
*** Protego Insurance Brokers L.L.C is registered under the commercial license issued by Government of Dubai, Economy and tourism
department in July 2022. The company received regulatory approval in August 2022 from UAE central Bank.
1. Supported by the enhanced Digital Banking platform with more than 120 services catering to our customer needs, we are now In the process of closing 7 branches by the end of this yearView entire presentation