Ajman Residents get Easy Banking with new RAKBANK Branch

RAKBANK has kicked off business in Ajman with the opening of its first branch in the emirate this week. The new branch offers the bank’s full range of banking services, and is one of six that will have been opened across the UAE by year-end, as part of the bank’s aggressive plans to expand its reach locally. 

“The surge in Ajman’s resident population and the consequent rise in demand for banking services by individuals and businesses makes the emirate a very promising market,” said Graham Honeybill, General Manager of RAKBANK. 

“The new branch will enable us to tap into what is effectively a new market for us and, in time, grow what we expect to become a substantial customer base,” he continued. “The wide presence of small and medium sized businesses in particular represents a big business opportunity.” 

The new branch houses a dedicated service centre for small and medium businesses, offering business banking services and collateral-free financing to help small businesses with their growth plans. 

Head of Personal Banking, Ian Hodges added, “Visibility and presence are key to the success of any bank, but even more so with RAKBANK, which has customer service as the key consideration in everything it does. Even with the success of newer facilities like telephone banking, branches continue to be a key service channel, handling a substantial portion of overall transactions. 

“We are looking at opportunities for next year to further extend our reach within the UAE through new branches,” he continued. “We have enjoyed record success over the last few years and have established ourselves as one of the leading retail banks in the country. Our profits have grown by more than 50% last year and our customer base has grown by 25% this year - a remarkable rate for any bank. Establishing a strong presence across the UAE can only help grow these numbers further.” 

The new Ajman branch, located within the Noor Al Kawthar mall, is expected to become one of the bank’s busiest branches due to its central location within the city. Two branches have already opened earlier in the year in Qusais and Sharjah, and three more are set to open in Mirdif, Ibn Battuta Mall and Mussaffah by end of the year. 

The branch expansion plans are one element of the bank’s approach to constantly review and improve service quality and offer more convenience to customers. It has in place one of the most rigorous training and testing programs for its customer service team and has been voted as the #1 bank in Service Quality by Ethos Consultancy in its Annual Bank Benchmarking Survey in the UAE for the last two years.