Providing financial solutions since 1976
RAKBANK, also known as the National Bank of Ras Al Khaimah (P.J.S.C), is one of the UAE’s oldest and most dynamic financial institutions. Founded in 1976, we have undergone a series of important transformations to better serve the needs of our customers.
We’re proud to share with you our history, mission and values, products and services, as well as our strategic outlook.
Our History
RAKBANK, also known as the National Bank of Ras Al Khaimah (P.J.S.C), was founded in 1976 and has since undergone a series of important transformations. When we rebranded as RAKBANK in 2001, we shifted our focus from purely Corporate Banking to serving Personal customers and Small Businesses. In late 2013, we increased our presence in the traditional SME and Commercial Banking segment, and more recently re-entered Corporate Banking, in line with our strategic plan to diversify our product offering to better serve the needs of our customers.
Our Products and Services
RAKBANK offers a wide range of conventional banking products and services to individuals and businesses across the UAE via our branches, mobile sales staff, and industry-leading digital solutions. We also provide a range of Sharia-compliant products and services to individuals and businesses through our Islamic Banking unit, RAKIslamic. Our commitment to diversification is exemplified by our acquisition of a majority stake in RAK Insurance Company in 2015 and the launch of a new Personal Remittance service.
Our Mission and Values
At RAKBANK, we focus on maximising shareholder and asset value by building long-term relationships with our customers, employees, and community. Our banking culture is firmly built on transparency, accountability, and service excellence. We aim to deliver a differentiated value proposition by investing in bank-wide capabilities such as Data Analytics and Innovation, enabling us to acquire new customers in a heavily competitive market and leverage our large customer base.
Our Strategic Outlook
Our strategic focus is on leveraging our strong Personal and Business Banking capabilities across segments and product areas within both Lines of Business while further growing selectively in Financial Institutions, Wholesale, and Treasury Business. By pursuing such a strategic positioning, we can best align with RAKBANK's strengths and addressable market opportunities. RAKBANK continuously strives to enhance its client-facing and back-office capabilities, ensuring we remain at the forefront of innovation and customer experience.
Bank on the go anytime, anywhere
Discover the RAKBANK App and enjoy cutting-edge Digital Banking services at your fingertips. Seamlessly manage your accounts, conduct secure transactions, and enjoy a range of innovative features – all in one user-friendly platform.
