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23/04/2013

RAKBANK, the leading retail and small business bank in the UAE, reported a net profit of AED 367.98 million for the quarter ended 31st March 2013, reflecting a 13% growth over the same period last year.

“RAKBANK continues to register strong profit year on year owing to its conservative underwriting and a competitive pricing policy for its innovative products and award-winning customer service,” said Graham Honeybill, RAKBANK Chief Executive Officer. “The first quarter of 2013 saw major developments at the Bank including the launch of its Islamic banking division, RAKBANK AMAL, which caters to a wider customer base that prefers Shariah-compliant products.”

Net interest income plus net profit from Islamic financing grew by 6% compared to 31st March 2012 to AED 570.6 million. Non-interest income, which stood at AED 181.8 million by the end of the first quarter of 2013, climbed by 18% compared to the same period last year. This increase is due to several streams of fee income stemming particularly from auto loans, mortgages, Bancassurance, and foreign exchange services. In addition, investment income grew by 50% compared to same period last year as the Bank continued to invest in quoted debt instruments.

Operating costs on the other hand, despite increasing by 5.2% for the year, were well below total income growth of 8.6%, indicating an improving profitability. “In line with its strategy to add customer convenience and cap operating expenses, RAKBANK added new services on Mobile Banking during the first quarter of 2013 as it continues to expand its web-based solutions,” added Honeybill.

The total impairment charge for the quarter stood at AED 61.4 million compared to AED 60.5 million at the end of the same quarter last year. As always, the Bank was well provisioned towards loan losses with a conservatively adequate loan loss coverage ratio of 65% by the end of the first quarter of 2013.

Total assets as of 31st March 2013 were AED 28.3 billion, an increase of AED 1.1 billion over 31st December 2012, which primarily reflects the quarter’s net profit and increase in deposits from banks. The Bank’s advances to deposits ratio and liquidity ratio stands comfortably at 93.6% and 19.3% respectively.

The Bank’s capital adequacy ratio as per Basel II requirement at the end of the quarter is 28.1% comprising entirely of Tier 1 capital. This is against a current minimum total capital ratio of 12% prescribed by the Central Bank in the UAE. Total shareholder’s equity totaled AED 5.5 billion at the end of March.

Finally, during the quarter Moody’s, Fitch and Capital Intelligence have affirmed their ratings of RAKBANK as follows:

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 700,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks.

RAKBANK offers a wide range of personal and business banking services, as well as Islamic Banking solutions via RAKBANK AMAL, throughout its 33 branches, and its Telephone, Online, and Mobile banking channels. A prominent player in small to medium enterprise finance and a leading provider of Credit Cards, the Bank received the title of ‘Bank of the Year’ in 2012 by Arabian Business Achievement Awards.

RAKBANK earned a reputation for extending one of the highest levels of customer service in the local industry by topping the annual Service Quality Bank Benchmarking Study, conducted by independent service specialists Ethos Consultancy, from 2005 to 2010.

20/04/2013

Bank’s expanding web-based solutions provide added customer convenience

In its strive for added customer convenience and banking simplicity, RAKBANK, the leading retail and small business bank in the UAE, recently launched Click & Collect. Through this first-of-its-kind service, existing and new customers can now open their RAKBANK Fast Saver, Current, and Savings accounts on www.rakbank.ae through a completely online interface. In just 48 working hours, Click & Collect ensures that customers can visit a UAE branch of their choice anytime within a month to pick up their welcome pack which includes their debit card, PIN, cheque book, and Online and Mobile Banking details all at once.

“With a solid foundation in service excellence, RAKBANK prioritizes convenience in the customer’s banking experience,” said Homi Gandhi, Head of RAKBANK Direct. “Recognizing the surge in online transactions in the UAE over the last few years, the Bank has established itself as a pioneer in web-based solutions to cater to customers’ banking needs while saving their valuable time.”

In fact, RAKBANK was the first bank in the region to provide customers with an online application process for customized insurance products, offered by various leading insurance providers, through RAKBANK Direct on www.rakbank.ae. In addition, the Bank initiated RAKBANK Deals, also on the Bank’s website, as an online destination for all Bank Credit, Debit and Prepaid Cardholders to take advantage of exclusive privileges, loyalty programs, and weekly deals. Once again, RAKBANK was the first bank in the region to have an active Twitter presence to address customer queries via the popular social media website.

Click & Collect offers customers the ability to save their application online and revisit it to complete it at their own time. To simplify the application process, customers need to present their verification documents only during their single visit to the branch when collecting their welcome kit. Customers are invited to visit www.rakbank.ae to learn more about Click & Collect or click on http://bit.ly/13Ftc3u.

- ENDS –

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 700,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks.

RAKBANK offers a wide range of personal and business banking services, as well as Islamic Banking solutions via RAKBANK AMAL, throughout its 33 branches, and its Telephone, Online, and Mobile banking channels. A prominent player in small to medium enterprise finance and a leading provider of Credit Cards, the Bank received the title of ‘Bank of the Year’ in 2012 by Arabian Business Achievement Awards.

RAKBANK earned a reputation for extending one of the highest levels of customer service in the local industry by topping the annual Service Quality Bank Benchmarking Study, conducted by independent service specialists Ethos Consultancy, from 2005 to 2010.

02/04/2013

RAKBANK, the leading retail and small business bank in the UAE, continues to deliver competitive financial solutions to small-to-medium enterprises (SMEs) with the recent launch of its Titanium Business Credit Card. Just like the Titanium for individuals, the free-for-life credit card for SMEs combines convenience and savings to facilitate payments and extend exclusive benefits.

“The RAKBANK Titanium Business Credit Card is ideal for tracking business expenses and making online payments to the government, utility companies, and many others,” explained Pritam Mirchandani, RAKBANK Head of Business Finance. With the new credit card, business customers gain the flexibility of paying the minimum amount due on their card within 25 days from the statement date, and the balance at their convenience. They can also use up to 90% of the credit card limit for cash advances at low interest rates through various channels such as ATMs, RAKBANK branches, and exchange houses. “Titanium Business cardholders can even take advantage of the cash advance facility to meet unexpected business requirements,” pointed Mirchandani.

In addition to the convenience it provides, the Titanium Business Credit Card makes it easy to save through RAKBANK’s flagship Cashback feature. In fact, business card holders are eligible for up to 2% Cashback on all international retail, cash and internet spends made via the card, as well as 1% Cashback on all domestic retail purchases. Furthermore, RAKBANK’s Titanium Business Credit Card gives customers the chance to win a million dirhams every six months whenever the card is used to purchase AED 500 or above.

Customers can also apply for additional business credit cards for key employees who are authorized to carry out financial transactions to help manage day-to-day business expenses. Each card comes with a host of complimentary insurance covers like Purchase Protection and Travel Accident Insurance benefits.

RAKBANK has established its position as one of the leading providers of business finance for SMEs in the UAE. The Bank’s innovative financial products and award-winning customer service provide flexible solutions to SMEs at every stage of their growth. For more information, customers are invited to visit any of the Bank’s 33 branches.

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 700,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks.

RAKBANK offers a wide range of personal and business banking services, as well as Islamic Banking solutions via RAKBANK AMAL, throughout its 33 branches, and its Telephone, Online, and Mobile banking channels. A prominent player in small to medium enterprise finance and a leading provider of Credit Cards, the Bank received the title of ‘Bank of the Year’ in 2012 by Arabian Business Achievement Awards.

RAKBANK earned a reputation for extending one of the highest levels of customer service in the local industry by topping the annual Service Quality Bank Benchmarking Study, conducted by independent service specialists Ethos Consultancy, from 2005 to 2010.

01/06/2013

RAKBANK, the leading retail and small business bank in the UAE, announced the launch of new services on its Mobile Banking platform that allow customers to conduct a wider range of banking transactions on the go via their handset. By introducing added services on its Mobile Banking Application and Service, customers can now use their mobile phones to order new cheque books, transfer balances, apply for supplementary cards, and even report a lost or stolen credit card. RAKBANK Mobile Banking saves time when seeking investment details and when applying for an advance against salary.

“Because RAKBANK values the modern customer’s time, we are always working to add new services on our digital channels that simplify the customer’s banking experience,” said Homi Gandhi, Head of RAKBANK Direct. “The launch of a collection of new services on Mobile Banking is part of this continuous effort, which ensures that customers can conduct their banking activities anywhere, and anytime.”

Using their handsets, RAKBANK customers can today request to place fixed deposits, postpone a loan installment, and register for e-statements. In addition to opening a F@st S@ver account online, RAKBANK customers can now use their mobile to open a Term Deposit Account plus a RAKBANK AMAL Jood Account, a unique Mudaraba-based savings account that grows customer savings while giving them chances to win AED 500,000 in a quarterly draw.

“RAKBANK recognizes the growing trend among its customers to access their accounts on their mobile phones and has made Mobile Banking available to holders of various devices ranging from Android, iPhone, and Blackberry smartphones. The Bank even offers non-smartphone users a unique USSD-based banking service which can be accessed on any mobile device on the Etisalat network,” added Gandhi.

Going one step further, RAKBANK provides customers with an online application process for customized insurance products, offered by various leading insurance service providers, through RAKBANK Direct on www.rakbank.ae. It also gives customers the added advantage of connecting with the Bank’s social media accounts on Facebook and Twitter.

- ENDS –

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 700,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks.

RAKBANK offers a wide range of personal and business banking services, as well as Islamic Banking solutions via RAKBANK AMAL, throughout its 33 branches, and its Telephone, Online, and Mobile banking channels. A prominent player in small to medium enterprise finance and a leading provider of Credit Cards, the Bank received the title of ‘Bank of the Year’ in 2012 by Arabian Business Achievement Awards.

RAKBANK earned a reputation for extending one of the highest levels of customer service in the local industry by topping the annual Service Quality Bank Benchmarking Study, conducted by independent service specialists Ethos Consultancy, from 2005 to 2010.

For more information, please visit www.rakbank.ae or contact the Call Centre on +9714 213 0000. Alternatively, you can connect with RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.

02/02/2013

RAKBANK, the leading retail and small business bank in the UAE, announced the launch of the first card in the region that caters to its large Filipino community. The new Bayani card is the latest addition to RAKBANK’s portfolio of Prepaid Cards and aims to better serve Filipino customers in the country. Not only is it an ideal alternative to cash, but the Bayani Prepaid Card also allows customers to instantly send money in US dollars to their family in the Philippines through their computer or mobile phone.

Upon application for a Bayani Card, customers automatically receive an add-on card along with the main reloadable Prepaid Card to send to the customer’s loved ones back in the Philippines. By loading the main Bayani card here in the UAE, the cardholder can send money instantly to those in the Philippines by transferring money to the add-on card in US dollars through Online Banking or SMS. “Because RAKBANK values the large Filipino expatriate community in the UAE, it is extending the Bank’s pioneering products and award-winning customer service to this market segment through the innovative Bayani Prepaid Card,” said Graham Honeybill, RAKBANK Chief Executive Officer.

The Bayani main cardholders and add-on card holders can use their cards to withdraw cash from any ATM in the UAE and worldwide that accepts MasterCard cards, while the add-on card holders have the additional advantage of withdrawing funds in pesos from any ATM in the Philippines for free. Both the main and add-on cards are covered with free travel accident insurance cover and purchase protection insurance.

Additionally, Bayani Prepaid Cards include numerous offers on retail purchases to help customers save through a wide range of over 100 buy-one-get-one-free offers, including 30 exclusive benefits at Filipino outlets in the UAE. For a complete list, and for any other enquiries please click here. Also, customers will be pleased to know that the Bank is giving away 50 Samsung Galaxy SIII phones to Bayani card holders. This promotion, running until 31st May 2013, entitles customers one chance to enter the draw for every AED 250 spent on their main card, and two chances for every AED 250 spent in the Philippines using the add-on card.

In addition to Bayani, RAKBANK offers customers its Bling and Loaded Prepaid Cards. Available to both banking and non-banking customers, RAKBANK Prepaid Cards are superior to cash because they are safer, more convenient and work anywhere, even online, without the hassle of currency conversions. “Prepaid Cards are the easiest way to budget day-to-day expenses because they allow customers to spend only up to the amount loaded on their cards,” explained Anil Chander, RAKBANK Head of Cards. “The Cards are not linked to any current or savings account and therefore are available to everyone. Not only are they an efficient way of storing cash, but they also allow for unlimited cash withdrawals, online payments, and point of sale purchases whether locally or during travel.”

- ENDS –

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 700,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks.

RAKBANK offers a wide range of personal and business banking services, as well as Islamic Banking solutions via RAKBANK AMAL, throughout its 33 branches, and its Telephone, Online, and Mobile banking channels. A prominent player in small to medium enterprise finance and a leading provider of Credit Cards, the Bank received the title of ‘Bank of the Year’ in 2012 by Arabian Business Achievement Awards.

RAKBANK earned a reputation for extending one of the highest levels of customer service in the local industry by topping the annual Service Quality Bank Benchmarking Study, conducted by independent service specialists Ethos Consultancy, from 2005 to 2010.

29/01/2013

Chandana Nath Thakur could hardly believe her ears when she was announced the winner of RAKBANK’s semi-annual Millionaire draw. After much reassurance that her win is official, Chandana finally broke into smiles as she claimed her million dirham prize from RAKBANK where she has been banking for over 2 years.

Chandana came close to missing out on her prize though because she had changed her contact details and forgot to update the Bank. “I would like to thank RAKBANK for their dedication in contacting me and making me a millionaire!” said Chandana. “I consider this happy surprise as a reward for my benevolent actions,” added the mother of one who prioritizes the sponsorship of an underprivileged child’s education despite her financial struggles. Even after becoming a millionaire, the first thing Chandana said she will do is set aside a budget for the high school education of the child.

RAKBANK MasterCard Credit Cards entitle their holders to entry in a millionaire draw that takes place every six months, with chances of winning increasing with higher use of the card for payment. RAKBANK offers four MasterCard Credit Cards including its Titanium, NMC, Geant La Carte, and Standard Card. RAKBANK Credit Cards come with excellent rewards of up to 5% Cashback on purchases, no annual fee ever, competitive interest rates, and lifestyle privilege offers from over 120 outlets through the RAKfeast dining and discount program.

- ENDS –

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 700,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks.

RAKBANK offers a wide range of personal and business banking services, as well as Islamic Banking solutions via RAKBANK AMAL, throughout its 33 branches, and its Telephone, Online, and Mobile banking channels. A prominent player in small to medium enterprise finance and a leading provider of Credit Cards, the Bank received the title of ‘Bank of the Year’ in 2012 by Arabian Business Achievement Awards.

RAKBANK earned a reputation for extending one of the highest levels of customer service in the local industry by topping the annual Service Quality Bank Benchmarking Study, conducted by independent service specialists Ethos Consultancy, from 2005 to 2010.

26/01/2013

RAKBANK, the leading retail and small business bank in the UAE, announced AED1,402.8 million net profit for 2012, an increase of 16.6% over 2011. The Bank continues to report double digit growth year on year by consistently pursuing the Bank’s successful strategy towards the business and personal finance segments.

“2012 marks a very successful year for RAKBANK,” said Graham Honeybill, RAKBANK’s Chief Executive Officer. “Not only did it see the Bank’s implementation of its revamped core banking system, but 2012 also witnessed the preparations for the launch of RAKBANK’s Islamic Banking window.” With these achievements and many others, it is no surprise that RAKBANK was voted Bank of the Year in 2012 by an independent jury during the Arabian Business Achievement Awards.

In review, the Bank’s net interest income increased in 2012 by 12.5% over 2011 to AED 2,233 million. This was mainly a result of a 10.4% growth in loans and advances, which stood at AED 20.3 billion for the year. Fee income for 2012 exceeded 2011 levels despite the tariff restrictions imposed by the UAE Central Bank in May 2011, with total revenues climbing by 9.7% to AED 2.9 billion.

Meanwhile, credit losses were 30% lower than 2011 as the Bank continued to apply a conservative strategy to loan underwriting and provisioning. Consequently, non-performing loans remained steady, at a rate of 2.5% of gross loans. Deposits grew by 13.3% to AED 20.7 billion which, along with retained profits, was sufficient to support the growth in loans, investments and the repayment of the AED 684 million in debt to the Ministry of Finance.

Operating costs increased by 13% as RAKBANK expanded its branch and ATM network throughout 2012 by adding a branch in Sharjah, another in Abu Dhabi, and over 50 ATMs around the country. The Bank also launched 3 dedicated SME banking centres to ensure a convenient banking presence where small and medium sized companies are located.

In the meantime, the Bank continued to invest in online media channels including Online Banking, Mobile Banking, and RAKBANK Direct and RAKBANK Deals on www.rakbank.ae.

Besides its online innovations, RAKBANK is committed to taking advantage of opportunities in the marketplace that grow its customer base. The Bank recently introduced Islamic Banking services through a separate brand, RAKBANK AMAL, to take advantage of the growing local demand for Islamic finance. “RAKBANK is aligning itself with the country’s efforts to be at the forefront of Islamic Finance by bringing its trendsetting products, online solutions, and award-winning customer service into the local Islamic Banking market.”

Finally, the regulatory liquidity ratio at year end was 20% compared to 19% by end of 2011. RAKBANK is well positioned to comply with the new liquidity rules as and when they become effective. The Bank’s Tier 1 ratio as per Basel II is 28.78% as against the requirement of 12% set by the UAE Central bank and this level of capital provides the Bank ample room for growth during 2013.

RATINGS

The bank is currently rated by the following leading rating agencies. Their recent ratings have remained unchanged as follows:

Dividend

The Directors have recommended a stock dividend of 10% and a cash dividend of 40%. The dividend recommended will result in over 56% of the net profit being retained, thereby increasing capital and reserves to strengthen the Bank’s overall position and provide support for future growth.

- ENDS –

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 700,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks.

RAKBANK offers a wide range of personal and business banking services, as well as Islamic Banking solutions via RAKBANK AMAL, throughout its 33 branches, and its Telephone, Online, and Mobile banking channels. A prominent player in small to medium enterprise finance and a leading provider of Credit Cards, the Bank received the title of ‘Bank of the Year’ in 2012 by Arabian Business Achievement Awards.

RAKBANK earned a reputation for extending one of the highest levels of customer service in the local industry by topping the annual Service Quality Bank Benchmarking Study, conducted by independent service specialists Ethos Consultancy, from 2005 to 2010.

For more information, please visit www.rakbank.ae or contact the Call Centre on +9714 213 0000. Alternatively, you can connect with RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.

18/01/2013

RAKBANK, the leading retail and small business bank in the UAE, is starting 2013 with the launch of its new Islamic Banking window. The Bank’s Islamic Banking services will be offered through a separate brand, RAKBANK AMAL, to include a wide range of products from Accounts, Loans and Cards to Takaful policies.

“As the fastest growing bank in the region, introducing Islamic Banking is the natural direction for RAKBANK as it strives to better serve existing and potential customers in the country through added choice,” said Graham Honeybill, RAKBANK Chief Executive Officer.

Just like RAKBANK brought innovation into conventional banking through trendsetting products, online solutions, and award-winning customer service, RAKBANK AMAL aims to bring the same foundations into Islamic Banking to enhance the local Islamic Banking market. “The Bank’s solid reputation for success and its commitment to customer service pave the way for a promising foundation for AMAL with the potential to set itself apart in a crowded market,” added Mufaddal Khumri, RAKBANK Head of Islamic Banking.

Available throughout the Bank’s 33 branches, RAKBANK AMAL provides financial solutions to a wide customer base with a preference for Sharia-compliant products and services. “With rising investment flows in Islamic Finance in the UAE and Dubai’s ambitious plans to set up an integrated platform for an Islamic Economy, RAKBANK aims to be at the forefront of Islamic Banking solutions to meet growing local demand,” explained Khumri.

RAKBANK AMAL’s Sharia-compliant products include Jood Account, a unique Mudaraba-based savings account that allows customers to grow their savings while earning chances to win AED 500,000 in its quarterly draw. Also, two lucky winners will pocket AED 5,000 each per month and 100 others will receive AED 500 each.

In addition to its two Debit Cards, RAKBANK AMAL also offers two Credit Cards through RAK Islamic Finance Company, a fully owned subsidiary of RAKBANK. Sharing the trendsetting features of RAKBANK Cards, RAKBANK AMAL does not charge an annual fee on the sharia-compliant cards which are also eligible for up to 5% Cashback. In addition, it brings its cardholders exclusive dining and lifestyle privileges with RAK Islamic Feast and RAK Islamic Lifestyle. Customers are sure to receive continuous rewards and benefits through exclusive weekly deals, including 50% discounts at various Sharia-compliant outlets, through RAKBANK Deals, which is also supported by an interactive mobile application.

Moreover, Amal Auto Finance, based on the Islamic concept of Murabaha, helps customers get the car of their dreams with minimal documentation and quick approvals. No salary transfer is required and finance is available for up to 60 months at competitive profit rates and through flexible repayment periods.

In case of any queries, customers can contact the dedicated toll free number on 800 AMAL (2625) or click here. RAKBANK AMAL services are available on all existing and traditional Bank branches, Online Banking, Mobile banking, RAKBANK Direct, RAKdirect, and ATMs.

- ENDS –

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 700,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks.

RAKBANK offers a wide range of personal and business banking services, as well as Islamic Banking solutions via RAKBANK AMAL, throughout its 33 branches, and its Telephone, Online, and Mobile banking channels. A prominent player in small to medium enterprise finance and a leading provider of Credit Cards, the Bank received the title of ‘Bank of the Year’ in 2012 by Arabian Business Achievement Awards.

RAKBANK earned a reputation for extending one of the highest levels of customer service in the local industry by topping the annual Service Quality Bank Benchmarking Study, conducted by independent service specialists Ethos Consultancy, from 2005 to 2010.

11/01/2013

RAKBANK, the leading retail and small business bank in the UAE, is the official sponsor of the second Al Ain Motor Show, MOTEX 2013. Running from 17 to 20 January in Al Ain Convention Center, the show is under the patronage of His Highness Sheikh Hazza Bin Tahnoon Al Nahyan, General Manager of the Dewan of the Ruler’s Representative in the Eastern region. MOTEX 2013 includes distributors and vendors of cars and car accessories, as well as an exclusive presence by RAKBANK to give visitors the opportunity to avail of the Bank’s competitive car finance scheme on the spot.

“By participating in the second Al Ain Motor Show, RAKBANK aims to facilitate car finance for show visitors through added convenience and a prompt loan approval process,” said Lina Yahya, RAKBANK Head of Auto Loans. “The Bank is also going one step further by offering customers reduced Auto Loan rates and deferring their first installment to ensure that their MOTEX visit is worth their while!”

RAKBANK is extending special interest rates for show visitors from as little as 3.99%. Not only is the Bank offering MOTEX visitors Auto Loan approvals within 60 minutes, but customers can even choose to defer the first installment for 100 days. Along with the approved loans, RAKBANK is also extending finance for motor insurance policies, as well as service contracts, select accessory purchases, and rustproofing.

“RAKBANK is delighted to establish an exclusive banking presence in Al Ain Motor Show 2013,” said Graham Honeybill, RAKBANK Chief Executive Officer. “The Bank’s strong presence in the show complements its continuous efforts to meet the needs of potential and existing customers throughout the emirates.”

MOTEX 2013 gives visitors the chance to test drive all 2013 new cars free of charge and includes special offers on select vehicles. The motor show is open every day from January 17-20 from 03:00 – 11:00 pm in Al Khabisi Hall in Al Ain Convention Centre. Entry is free.

- ENDS –

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 700,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks.

RAKBANK offers a wide range of personal and business banking services, as well as Islamic Banking solutions via RAKBANK AMAL, throughout its 33 branches, and its Telephone, Online, and Mobile banking channels. A prominent player in small to medium enterprise finance and a leading provider of Credit Cards, the Bank received the title of ‘Bank of the Year’ in 2012 by Arabian Business Achievement Awards.

RAKBANK earned a reputation for extending one of the highest levels of customer service in the local industry by topping the annual Service Quality Bank Benchmarking Study, conducted by independent service specialists Ethos Consultancy, from 2005 to 2010.

For more information, please visitwww.rakbank.aeor contact the Call Centre on +9714 213 0000. Alternatively, you can connect with RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.

19/11/2012

RAKBANK was recently chosen as the Bank of the Year by an independent panel of business leaders from the region during the 2012 Arabian Business Achievement Awards. The award celebrates the Bank’s outstanding performance and excellence in retail and small business banking amongst banks operating in the country.

“RAKBANK is proud to have been selected as the leading bank in the UAE,” said Graham Honeybill, RAKBANK Chief Executive Officer. “This recognition is a testament to the Bank’s successful business strategy, which is championed by the diligence and dedication of our valued staff.”

Highlighted by its growing profits, RAKBANK managed to stand out in a crowded banking industry by launching trendsetting products and services within a solid lending approach. In addition to its heavy investments in technology and a range of new products and services over the last 12 months, the judges particularly lauded the Bank’s continuous support for the small business segment in the UAE. “Recognizing the importance of small businesses in the local economy, RAKBANK’s successful strategy ensures flexible financial solutions for businesses in the UAE through innovative products and award-winning customer service,” added Honeybill.

Its unwavering commitment to customer service also saw the Bank widen its portfolio of electronic services to complement its branch network and provide the utmost convenience for customers. “Superior service quality is a cornerstone of the RAKBANK experience and we aim to bolster customer convenience by ensuring a Bank presence wherever our modern customer is,” concluded Honeybill. Customers can visit www.rakbank.ae as a one-stop shop to learn about the bank’s products and services, perform their banking transactions, apply for insurance policies, and connect with the Bank via social media or real-time chat.

The Arabian Business Achievement Awards was held in Emirates Towers in Dubai on Monday 19th November. This year’s independent panel of judges included Mohamed Almulla from Arab Media Group, Osman Sultan from du, Adel Ali from Air Arabia, Osama Hamdan from Drake and Skull, Dr. Saad Al Barak formerly with Zain, Khalid Samawi from Ayyam Gallery, and Walid Akkawi from ITP.

- Ends –

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 700,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks.

RAKBANK offers a wide range of personal and business banking services, as well as Islamic Banking solutions via RAKBANK AMAL, throughout its 33 branches, and its Telephone, Online, and Mobile banking channels. A prominent player in small to medium enterprise finance and a leading provider of Credit Cards, the Bank received the title of ‘Bank of the Year’ in 2012 by Arabian Business Achievement Awards.

RAKBANK earned a reputation for extending one of the highest levels of customer service in the local industry by topping the annual Service Quality Bank Benchmarking Study, conducted by independent service specialists Ethos Consultancy, from 2005 to 2010.

For more information, please visit www.rakbank.aeor contact the Call Centre on +9714 213 0000. Alternatively, you can connect with RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.

04/11/2012

RAKBANK, the leading retail and small business bank in the UAE, is extending unmatched savings, convenience, and privileges to its customers with the launch of RAKBANK Value Collection (RVC). By adding one of the RVC tiers to their Current Account or Credit Cards, customers receive a collection of popular banking services plus complimentary insurance and lifestyle benefits in exchange for a minimal monthly fee.

“RAKBANK is proactively working to provide our customers with convenient solutions that not only cater to their banking needs but also add value to their banking experience,” said Graham Honeybill, RAKBANK Chief Executive Officer. “Through RVC, the Bank offers Account and Credit Card holders some of the most common banking services at reduced cost, in addition to a range of complimentary insurance and lifestyle privileges,” added Honeybill.

Account holders have a choice of 3 tiers of RVC: Extra, Superior, and Ultimate. From as little as 50 AED per month, Accountholders are entitled to one free international remittance per month, one free monthly chequebook, minimum of three free non-bank local ATM withdrawal per month, a free prepaid card, and more depending on the selected tier. As for Credit Card holders, RVC’s choice of Executive or Premium offer customers one free international remittance per month, one free duplicate statement per month, and one free Credit Card cheque per year, plus one free cheque collection service from home for Premium holders.

Insurance benefits for both Account and Credit Card holders include complimentary Life Insurance, Secure Wallet, Travel Insurance, and Motor Insurance discount. In addition, customers receive free local roadside assistance and concierge services. RVC also provides complimentary non-banking benefits through a maximum of 8 lifestyle privileges per month, which include free dining and shopping vouchers through RAKBANKDeals on www.rakbank.ae.

Existing Account and Credit Card holders can register for RVC by visiting any RAKBANK branch or by using Phone Banking, Online Banking, or RAKBANKDirect for added convenience. To learn more about RAKBANK Value Collection, customers are invited to visit www.rakbank.ae.

- Ends –

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 700,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks.

RAKBANK offers a wide range of personal and business banking services, as well as Islamic Banking solutions via RAKBANK AMAL, throughout its 33 branches, and its Telephone, Online, and Mobile banking channels. A prominent player in small to medium enterprise finance and a leading provider of Credit Cards, the Bank received the title of ‘Bank of the Year’ in 2012 by Arabian Business Achievement Awards.

RAKBANK earned a reputation for extending one of the highest levels of customer service in the local industry by topping the annual Service Quality Bank Benchmarking Study, conducted by independent service specialists Ethos Consultancy, from 2005 to 2010.

For more information, please visitwww.rakbank.aeor contact the Call Centre on +9714 213 0000. Alternatively, you can connect with RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.

30/10/2012

www.rakbank.ae Offers Visitors a Complete Banking Experience

Living in the UAE’s modern society, many residents are riding the online wave to fulfill their banking needs. RAKBANK, the UAE’s leading bank in innovation and customer service, launched its new and improved website to provide visitors with a friendlier and more convenient online experience.

RAKBANK currently has three existing online platforms: the Bank website, RAKBANKDirect, and RAKBANKDeals. With the new website,www.rakbank.ae is now a one-stop shop where customers can learn about the Bank’s products, apply for insurance products online, and avail special deals in a unified platform. Characterized by picture icons, the new website simplifies the homepage layout and presents the entire range of RAKBANK products and services in a single screen view.

“The new and contemporary design ofwww.rakbank.ae ensures a ‘See, Pick and Click’ concept where banking, insurance, and deals are easily viewed and accessed,” said Banali Malhotra, RAKBANK Head of Marketing. “Retaining the website’s core features, the revamp builds on customer feedback to create a visually enhanced interface and improve site navigation,” added Malhotra.

Throughwww.rakbank.ae, customers are just one click away from contacting a RAKBANK agent to address queries on the spot through the Live Chat window or to schedule a call back. Also, customers can easily access Online Banking to view balances, pay bills, and transfer funds and even to open an interest-bearing F@st S@ver savings account.

A market leader in innovation and customer service, RAKBANK’s new website is in line with the Bank’s commitment to providing customers with online solutions to complement its branch network. In addition to www.rakbank.ae, the Bank’s online portfolio includes Mobile Banking for customers who prefer to bank on the move via their handsets. RAKBANK Mobile Banking enables customers to track accounts, loans, and credit cards and to transfer funds and pay bills in a secure and simple process.

“Customer service has always been a central theme to the RAKBANK experience,” said Graham Honeybill, RAKBANK Chief Executive Officer. “By enhancing www.rakbank.ae, RAKBANK is constantly working to optimize its portfolio of online solutions and increase convenience by ensuring a Bank presence where our modern customer is,” added Honeybill.

RAKBANK customers can connect with the Bank through social media channels by clicking on the Facebook and Twitter handles available on www.rakbank.ae.

- ENDS –

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 700,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks.

RAKBANK offers a wide range of personal and business banking services, as well as Islamic Banking solutions via RAKBANK AMAL, throughout its 33 branches, and its Telephone, Online, and Mobile banking channels. A prominent player in small to medium enterprise finance and a leading provider of Credit Cards, the Bank received the title of ‘Bank of the Year’ in 2012 by Arabian Business Achievement Awards.

RAKBANK earned a reputation for extending one of the highest levels of customer service in the local industry by topping the annual Service Quality Bank Benchmarking Study, conducted by independent service specialists Ethos Consultancy, from 2005 to 2010.

For more information, please visitwww.rakbank.aeor contact the Call Centre on +9714 213 0000. Alternatively, you can connect with RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.

“With our frequent program of value-added promotions and benefits, RAKBANK is committed to its overall strategy of providing innovative, valuable and competitive financial solutions to our customers every season,” said Graham Honeybill, RAKBANK General Manager.

RAKBANK is also extending its spirit of giving with its Ramadan Loan Instalment Deferral, granting customers an automatic instalment deferment on personal loans and SME loans, as well as customers with existing Auto Loans. “With Ramadan falling during the summer season, customers may have additional expenses this year to cover summer vacations and Eid Al Fitr celebrations,” added Honeybill. “RAKBANK’s Ramadan promotions will help ease customers’ financial responsibilities during this season while maximizing their benefits.”

RAKBANK Auto Loan Promotion comes with a competitive interest rate of 4.75% per annum for all new vehicles, accompanied with flexible payment terms that stretch up to 84 months. In addition, RAKBANK brings its new and existing Auto Loan customers rewarding motor insurance policies from Oman Insurance Company, offered to customers with a promotional premium rate of 3.75% during the month of Ramadan. The motor insurance policy also presents customers, up until March 31st, 2011, with a chance to win a luxury Lexus SUV and free Motor Insurance as well as many unmatched benefits including free cover for the 13th month of insurance, attractive Cashback on using RAKBANK Credit Card for premium payment, and agency repair.

The RAKBANK Auto Loan Promotion will run through the month of Ramadan and will be available at select showrooms across the UAE. For further information, kindly contact RAKBANK at 04 213 0000.

09/11/2012

Fifty lucky customers win 3D LED TVs

It is a very rewarding time for RAKBANK customers to use their MasterCard Cards for international spends. In addition to the popular Cashback feature available to Credit and Debit cardholders, fifty lucky RAKBANK MasterCard customers, including Prepaid cardholders, now have the chance to win a cutting edge 40-inch 3D LED TV when using their Cards internationally.

Running until December 31st 2012, the promotion gives RAKBANK MasterCard customers one chance to win when they spend AED 5,000 on their Card during travel or when purchasing from international merchants online. After that, customers get a bonus chance for every additional AED 2,500 spent. Cardholders will be pleased to know that all international spends including retail, cash advances, and online transactions performed in any currency other than UAE dirhams are eligible for this promotion.

“RAKBANK is constantly working to offer cardholders attractive promotions and deals that enhance their banking experience,” said Graham Honeybill, RAKBANK CEO. “With holiday season around the corner, we are confident that participating in the MasterCard promotion will bring greater value to our Credit, Debit, and Prepaid cardholders.”

RAKBANK gives its customers a choice of four MasterCard Credit Cards: Titanium, Classic, NMC, and Géant La Carte, plus two MasterCard Debit Cards. The Cards are free for life with no annual fees, and come with a Cashback feature of up to 5% on international transactions and up to 3% on domestic purchases or La Carte points for the Géant Card. RAKBANK’s card portfolio also includes two MasterCard Prepaid Cards.

All RAKBANK cards entitle their holders to ongoing promotions and multiple dining and hospitality discounts through RAKBANK Deals via www.rakbank.ae. They also provide customers with convenient and instant access to funds anywhere in the world, and can be used at all ATMs and merchants that accept MasterCard, UAESWITCH or GCCNET cards.

- ENDS –

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 700,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks.

RAKBANK offers a wide range of personal and business banking services, as well as Islamic Banking solutions via RAKBANK AMAL, throughout its 33 branches, and its Telephone, Online, and Mobile banking channels. A prominent player in small to medium enterprise finance and a leading provider of Credit Cards, the Bank received the title of ‘Bank of the Year’ in 2012 by Arabian Business Achievement Awards.

RAKBANK earned a reputation for extending one of the highest levels of customer service in the local industry by topping the annual Service Quality Bank Benchmarking Study, conducted by independent service specialists Ethos Consultancy, from 2005 to 2010.

For more information, please visitwww.rakbank.ae or contact the Call Centre on +9714 213 0000. Alternatively, you can connect with RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.

20/10/2012

An increase of 11% compared to same period last year

RAKBANK, the leading retail and small business bank in the UAE, reported a net profit of AED 1.04 billion for the nine months ended 30th September 2012, recording 14.5% annual growth compared to the same period in 2011 and 7.6% quarter growth. The Bank continued to pursue a consistent and sustainable level of growth through a prudent lending strategy, while seeking new opportunities in the small business and personal finance segments.

Net interest income for the nine months increased by 14% to AED1.7 billion compared to the same period last year, and net loans and advances grew by 9.36%. With deposits up by 12.5% by AED 2.29 billion, the Bank was able to maintain healthy liquidity and loan to deposit ratios at 19.4% and 91.9% respectively.

“The positive results reported for the nine months reflect the continued growth in our customer base as a direct result of the Bank’s full range of evolutionary products and services supported by superior customer service,” said Graham Honeybill, RAKBANK’s Chief Executive Officer. The recent replacement of RAKBANK’s core banking system was another milestone in enhancing customers’ experience by ensuring a faster, smoother, and more efficient service.

“The technology upgrade helps support the Bank’s portfolio of e-solutions for customers and demonstrates the Bank’s commitment to achieving excellence in customer service, which is the driving force behind RAKBANK’s solid reputation and high levels of customer loyalty,” said Honeybill. In addition to its Online and Mobile Banking services, RAKBANK’s e-portfolio goes one step further to offer customers an online application process for customized insurance products from leading providers throughwww.rakbank.ae.

Due to the continuing investment in technology as well as branch and ATM networks, operating costs climbed by 13.7% compared to the same period last year. The total impairment charge for the nine months stood at AED 157.4 million against AED 223 million last year, and the total provisions held are considered conservatively adequate for the current loan portfolio.

Gross loans and advances increased by 9.36% to AED 20.4 billion during the nine months. Non-interest income at AED 489.7 million was down by 4% compared to the same period last year primarily because of the impact of regulatory restrictions on fees and charges imposed by the Central Bank since May 2011. However, RAKBANK’s growth in investment income, foreign exchange, and other fee lines achieved a healthy growth of 18.9% in fee income compared to the third quarter of 2011.

“As a leading retail and small business bank, we are constantly looking for new ways to boost the Bank’s capability to further grow our customer base and fee income. The introduction of Islamic Banking products and services planned for early 2013 will aim to capture a wider market by expanding the suite of RAKBANK offerings,” added Honeybill.

Total assets increased by 8.1% to reach AED 26.49 billion by the end of the nine months with Moody's Investors Service affirming RAKBANK’s stable outlook in September 2012. RAKBANK used its internal resources to fully settle the balance of subordinated debt of AED 684.47 million received from Ministry of Finance in December 2009.

Total Shareholder’s equity was AED 5.33 billion at the end of the third quarter after distributing the 2011 cash dividend of AED 415.6 million in May 2012. The Bank’s tier 1 and total ratio stands at 19.61% against the regulatory minimum of 12%. As a conservative measure, this ratio was calculated without taking into consideration the interim profit of AED1.04 billion.

RATINGS

The Bank enjoys the following ratings, which have remained unchanged since December 2011:

- ENDS –

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 700,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks.

RAKBANK offers a wide range of personal and business banking services, as well as Islamic Banking solutions via RAKBANK AMAL, throughout its 33 branches, and its Telephone, Online, and Mobile banking channels. A prominent player in small to medium enterprise finance and a leading provider of Credit Cards, the Bank received the title of ‘Bank of the Year’ in 2012 by Arabian Business Achievement Awards.

RAKBANK earned a reputation for extending one of the highest levels of customer service in the local industry by topping the annual Service Quality Bank Benchmarking Study, conducted by independent service specialists Ethos Consultancy, from 2005 to 2010.

For more information, please visit www.rakbank.ae or contact the Call Centre on +9714 213 0000. Alternatively, you can connect with RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.

22/07/2012

An increase of 13.5% over same period of 2011

The National Bank of Ras Al-Khaimah (P.S.C.) (RAKBANK) has reported a net profit of AED 668.7 million for the half year ended 30th June 2012, reflecting a 13.5% growth compared to same period of 2011 and 5.6% over the first quarter of 2012.

“We are pleased with the positive results reported for the first six months as they reflect the continued growth in our customer base,” says Graham Honeybill, Chief Executive Officer, RAKBANK. “As a leading Retail/SME national bank, we look to develop initiatives that enhance our customers’ banking experience. In the last quarter this included upgrading our IT systems to offer customers faster, easier, and more convenient services.”

The technology upgrade demonstrates the bank’s commitment to achieving excellence in customer service, the driving force behind RAKBANK’s solid reputation and high levels of customer loyalty.

FUNDED INCOME GROWS BY 17%

The bank has continued to follow a measured approach to expansion, with a focus on maintaining a consistent and sustainable level of growth through a careful lending policy and actively seeking new lending in its chosen fields, and has seen solid growth in the small business and personal finance segments. As a result, net interest income grew 17% over 2011 to AED1.1 billion.

Gross Loans and advances stood at AED 19.9 billion, an increase of 6.4% over 31st December 2011 and an increase of 11.5% compared to 30th June 2011.

Deposit growth and its costs have been managed effectively to maintain the expected margins, and prudent levels of liquidity.

The total impairment charge for the six months at AED 114.6 million and the total provisions held are considered conservatively adequate for the loan portfolio.

NON INTEREST INCOME

Non interest income at AED 320.1 million was down by 13% compared to 30th June 2011. This is primarily because of the impact of regulatory restrictions imposed since May 2011 on fees and charges. However the Bank has achieved a steady growth in various other fee income lines such as investment income, foreign exchange and others. As a result it achieved a growth of 7.4% in fee income compared to the previous quarter.

“The Bank will continue its focus on providing a full range of evolutionary products and services to its customers supported by excellent customer service,” added Honeybill. “The recent introduction of the core banking system will enhance the Bank’s capability to grow its customer base and fee income.”

ASSETS & LIABILITIES

Loans and advances, the main drivers of income, grew by AED 1.18 billion during this half year, and this growth has come across small business and personal finance, being the chosen segments. Deposits, on the other hand, have grown by AED 1.99 billion enabling the bank to maintain healthy loans to deposit and liquidity ratios. The Bank’s advances to deposits ratio and liquidity ratio stands comfortably at 92.4% and 20.3% respectively.

The bank took advantage of investment opportunities as and when it arose. Over AED 640 million of new investments were made in various debt instruments during the current half year. Investment book, as a result grew by AED 423 million, net of maturing instruments.

In the annual general meeting held in April the shareholders decided to retain 70% of 2011 profits. This enabled the bank to boost its capital base by AED 787 million and as a result an amount of AED 300 million of the subordinated debt, categorised as tier 2 capital was repaid to Ministry of Finance after obtaining the necessary regulatory approvals. In the same meeting the shareholders decided to allocate AED 240 million to a non-distributable regulatory credit risk reserve. All the above have improved the quality of the Bank’s capital base.

Total shareholder’s Equity stood at AED 4.96 billion at end of June after distribution of cash dividend of AED 415.6 million for the year 2011. The Bank’s tier 1 and total ratio stands at 20% and 21.8% respectively. The interim profit of AED668 million has not been considered in arriving at these ratios as a conservative measure adopted by the Bank.

RATINGS

The Bank enjoys the following ratings, which have remained unchanged since December 2011:

- Ends -

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 400,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks in the UAE.

RAKBANK offers a wide range of personal and business banking services throughout its 31 branches, as well as its telephone, Online, and Mobile banking channels. The Bank is a leading provider of credit cards and a prominent player in mortgage lending and small to medium enterprise finance.

Customer service excellence is a cornerstone of the Bank’s success, the bank having been voted in 2010 for the fifth consecutive year as as #1 Bank in Customer Service in the UAE Annual Bank Benchmarking Study. For more information, you can visit www.rakbank.ae, www.rakbankdirect.ae, or contact the Call Centre at +9714 213 0000. You can also connect to RAKBANK via www.rakbank.ae or contact the Call Centre on +9714 213 0000. Alternatively, you can connect with RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.

Chanchal Gala couldn’t have wished for a better start to 2012! RAKBANK has credited her account with one million dirhams.

A mother of two and an owner of an electronics business in Deira, Dubai, Chanchal was announced as the winner of RAKBANK’s biannual millionaire draw held for its MasterCard Credit Cardholders.

“This is a life changing prize! I am forever grateful to RAKBANK for once again helping me achieve one of my dreams,” said Chanchal who approached RAKBANK three years ago to help her realize her lifelong ambition of setting up her own business. “This prize money will enable me to properly invest in my children’s future, just the way I wanted!”

RAKBANK MasterCard Credit Cards entitle their holders to enter a millionaire draw that takes place every six months, with chances of winning increasing the more Cardholders spend on their cards. RAKBANK offers four MasterCard Credit Cards including its Titanium, NMC, Geant La Carte, and Standard MasterCard. RAKBANK Credit Cards come with excellent rewards of up to 5% cashback on purchases, no annual fee ever, competitive interest rates, lifestyle privilege offers from over 70 outlets through the Rakfeast dining and discount program as well as access to the Banks’s latest online platform RAKBANKdeals.ae which offers Cardholders discounts of 50% and more on deals from leading brands.

For a simpler and more flexible banking experience, RAKBANK offers the facility of applying for various products through an online-only process on rakbankdirect.ae. Apply now for your RAKBANK MasterCard Credit Card and you might be the next millionaire!

-Ends-
 

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 400,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks in the UAE.

RAKBANK offers a wide range of personal and business banking services throughout its 31 branches, as well as its telephone, Online, and Mobile banking channels. The Bank is a leading provider of credit cards and a prominent player in mortgage lending and small to medium enterprise finance.

Customer service excellence is a cornerstone of the Bank’s success, the bank having been voted in 2010 for the fifth consecutive year as as #1 Bank in Customer Service in the UAE Annual Bank Benchmarking Study. For more information, you can visit www.rakbank.ae or contact the Call Centre at +9714 213 0000. You can also connect to RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.

09/07/2012

Companies occasionally use famous songs in their TV commercials. Others sometimes modify the music of a popular song to create a jingle about their products. In either case, they aim to achieve one thing: enhanced consumer engagement.

The popularity of this trend is set to continue, especially since most of us are likely to associate brands with the music they play in their commercials.

In the UAE, RAKBANK has come up with yet another ‘first’ and is doing so in the field of branded music. This leading local financial institution, which has established a remarkable footprint in the UAE banking and finance industry through the launch of evolutionary products, has taken the tune of Ali Zafar’s famous Chal Dil Merey (Walk along my heart) to create its own song.

“We are known for our unconventional marketing approach. Using branded music to reach customers in a way that further raises our engagement levels with them demonstrates once again that we continue to set standards in the Retail/SME banking marketing,” says Graham Honeybill, Chief Executive Officer, RAKBANK.

RAKBANK has created a unique position for itself over the years, not only by offering innovative products and excellent service, but also through a bold and often light-hearted approach to marketing. The RAKBANK song is another addition to the Bank’s list of award-winning marketing initiatives.

The lyrics of the song remind customers of RAKBANK’s holistic approach to banking; they also name the different channels that customers can use to reach the bank, as well the various products and services it offers.

“Yeah! RAKBANK” was recomposed and sung by the renowned Ranjit Barot and can be downloaded as a ringtone from the Bank’s website.

- ENDS –

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 400,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks in the UAE.

RAKBANK offers a wide range of personal and business banking services throughout its 31 branches, as well as its telephone, Online, and Mobile banking channels. The Bank is a leading provider of credit cards and a prominent player in mortgage lending and small to medium enterprise finance.

Customer service excellence is a cornerstone of the Bank’s success, the bank having been voted in 2010 for the fifth consecutive year as as #1 Bank in Customer Service in the UAE Annual Bank Benchmarking Study. For more information, you can visit www.rakbank.ae, www.rakbankdirect.ae, or contact the Call Centre at +9714 213 0000. You can also connect to RAKBANK via www.rakbank.ae or contact the Call Centre on +9714 213 0000. Alternatively, you can connect with RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.

05/06/2012

RAKBANK has announced the launch of its new interactive mobile application developed to give Cardholders easier and faster access to the Bank’s value added deals and offers on RAKBANKdeals.ae.

“We are proud to be the first bank in the UAE to launch a mobile application for a deals platform,” says Graham Honeybill, Chief Executive Officer, RAKBANK. “The new engaging application reinforces RAKBANK’s position as a dynamic Bank which offers its customers innovative and flexible products and services that exceed their expectations.”

RAKBANKdeals.ae mobile app is compatible with most popular web-enabled smartphones such as iPhone, Blackberry and Android and can be downloaded from their online application stores.

For GPS enabled mobile phones, and once the user location is identified, the application will show a list of the deals and offers from RAKBANK that are the closest. Cardholders also have the option to select any of the various categories like dining, electronics, entertainment, etc. and all the relevant deals will be displayed. Alternatively, they can search by ‘location’ to find offers in a specific area.

For added convenience, Cardholders are able to share the deals with their family and friends via SMS, e-mail or through social networking sites like Facebook and Twitter.

“The new mobile application is the latest addition to our user-friendly, rewarding digital engagement channels such as our active presence on key social media platforms as well as the Bank’s innovative Mobile and Online Banking solutions,” says Banali Malhotra, Head of Marketing, RAKBANK. “With RAKBANKdeals.ae enjoying a growing popularity, we introduced this new application so our customers can access a wide array of exclusive, attractive deals while they are on the go.”

RAKBANKdeals.ae, launched late last year, is a one stop online destination to all RAKBANK Credit, Debit and Prepaid Cardholders exclusive privileges and loyalty programmes. This includes access to RAKBANKdeals.ae weekly deals offering discounts of 50% and more from leading brands, RAKfeast, a dining discount programme, Lifestyle Privileges, a programme for diverse benefits and privileges from more than 80 outlets, the Prepaid Card offer, buy 1 get 1 free, as well as RAKBANKdirect.ae and smartshop.ae discounted deals.

- ENDS –

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 400,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks in the UAE.

RAKBANK offers a wide range of personal and business banking services throughout its 31 branches, as well as its telephone, Online, and Mobile banking channels. The Bank is a leading provider of credit cards and a prominent player in mortgage lending and small to medium enterprise finance.

Customer service excellence is a cornerstone of the Bank’s success, the bank having been voted in 2010 for the fifth consecutive year as as #1 Bank in Customer Service in the UAE Annual Bank Benchmarking Study. For more information, you can visit www.rakbank.ae, www.rakbankdirect.ae, or contact the Call Centre at +9714 213 0000. You can also connect to RAKBANK via www.rakbank.ae or contact the Call Centre on +9714 213 0000. Alternatively, you can connect with RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.

13/05/2012

Making customers’ holiday twice as enjoyable

Once again, RAKBANK has spiced up summer time for its customers by making their vacation twice as enjoyable! The prominent financial institution dedicated to offering its customers evolutionary, rewarding banking solutions, has joined hands with Makemytrip.ae, a leading online travel agent, to offer Cardholders an amazing two-for-one holiday package deal.

Valid until the end of July and when purchasing any of five unforgettable holiday packages on Makemytrip.ae, this exclusive offer gives customers exceptional savings on accommodation and other package benefits. To avail of the promotion, customers simply need to pay for one holiday package using any of RAKBANK’s Cards; Debit, Credit or Prepaid; to get another one for their companion for free.

“Every month our customers look forward to the latest offers from RAKBANK, and we are proud to continue to exceed their expectations with this special deal.” said Graham Honeybill, Chief Executive Officer of RAKBANK. “By tying up with Makemytrip.ae, we are giving our customers double the reason to enjoy their holidays.”

RAKBANK’s deal is available on holiday packages to Thailand, Singapore, Malaysia, Turkey and Sri Lanka. It includes 4 nights/ 5 days stay in a 4-star hotel, daily breakfast, sightseeing tours, return airport transfers and hotel taxes as well as service charges.

“By creating alliances with strategic partners from various industries, we are able to provide our customers with not only well-timed exciting offers but also deals that add further value to their banking experience,” says Banali Malhotra, Head of Marketing at RAKBANK.

RAKBANK offers its customers the most rewarding Debit, Credit and Prepaid Cards as they all come loaded with various benefits and exclusive privileges. Also, the Bank has recently launched www.rakbankdeals.ae providing its Card customers with special weekly deals offering discounts of 50% and more at their favourite outlets.

RAKBANK customers can avail of this exclusive offer by visiting Makemytrip.ae website and looking out for RAKBANK’s special offers and then call 8000 141414.

- ENDS –

About RAKBANK

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a leading retail and small to medium business bank in the UAE, serving over 400,000 customers. Founded in 1976, the Bank is one of the country’s oldest local financial institutions and today one of its fastest growing and most dynamic banks in the UAE.

RAKBANK offers a wide range of personal and business banking services throughout its 31 branches, as well as its telephone, Online, and Mobile banking channels. The Bank is a leading provider of credit cards and a prominent player in mortgage lending and small to medium enterprise finance.

Customer service excellence is a cornerstone of the Bank’s success, the bank having been voted in 2010 for the fifth consecutive year as as #1 Bank in Customer Service in the UAE Annual Bank Benchmarking Study. For more information, you can visit www.rakbank.ae ,www.rakbankdirect.ae. You can also connect to RAKBANK viawww.rakbank.ae or contact the Call Centre on +9714 213 0000. Alternatively, you can connect with RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.