National Bank of Ras Al Khaimah P S C : Annual Report

Titanium Award

Best SME Bank

Best SME Bank in UAE

The Asset ESG Awards

Banking Excellence Awards

Global Finance Magazine

UAE's SME Bank of the Year

UAE's Mid-Sized Domestic

UAE's Fraud Initiative of the

Asian Banking & Finance Awards

Retail Bank of the Year

Year

Asian Banking & Finance Awards

Asian Banking & Finance Awards

The Number 2 Top

Excellence in SME Banking

Advertiser of the Year

Investment House in MENA

Finnovex Awards

MMA Awards

The Asset Benchmark Research

Machine Learning and AI

Audio Sonic Branding

Customer Experience

MMA Awards

MMA Awards

MMA Awards

Data Insights

Lead Generation / Direct

Best Vertical Acceptance

MMA Awards

Response / Conversions

Product MENA for Skiply

MMA Awards

EDGE 2022

Net Profit increased by

Impairment Charges

Gross Loans and

Return on Equity was

AED 405.1 million

decreased by

Advances increased by

13.5%

YoY

AED 272.6 million

AED 2,687.9 million

for FY 22

YoY

YoY

Full Year Results

FY'18

FY'19

FY'20

FY'21

FY'22

(AED million)

Net Interest Income

2,768.7

2,802.1

2,525.6

2,168.4

2,489.3

Non-Interest Income

1,058.3

1,176.8

1,038.4

1,062.1

962.5

Total Income

3,827.0

3,978.9

3,564.0

3,230.5

3,451.8

Operating Expenditures

(1,488.3)

(1,570.4)

(1,395.3)

(1,395.6)

(1,484.4)

Operating Profit Before Provisions

2,338.7

2,408.5

2,168.7

1,835.0

1,967.5

for Impairment

Provisions for Impairment

(1,421.1)

(1,313.2)

(1,663.3)

(1,076.7)

(804.0)

Net Profit

917.5

1,095.3

505.4

758.3

1,163.4

Balance Sheet Highlights

FY'18

FY'19

FY'20

FY'21

FY'22

(AED billion)

Total Assets

52.7

57.1

52.8

57.6

66.5

Gross Loans and Advances

34.8

36.3

32.2

35.5

38.1

Deposits

34.1

36.8

36.9

38.9

44.9

Digital Transformation

FY'18

FY'19

FY'20

FY'21

FY'22

Number of Digital Transactions

4,775,486

6,202,560

7,499,599

9,204,447

10,595,609

Logins made by Customers

23,939,907

29,891,658

32,309,338

34,674,183

38,310,369

% Senior Management positions

Number of nationalities

Emiratisation ratio:

occupied by women:

represented on RAKBANK

19%

workforce:

20%

(2021: 16%)

56

(2021: 18%)

(2021: 49)

Preserving Natural Resources

Contents

2022 At a Glance

2

YEAR IN REVIEW

7

RAKBANK Overview

10

Chairman's Statement

10

Our Business in Context

12

WHO WE ARE

12

WHAT WE DO

12

WHERE WE OPERATE

13

VISION, MISSION, VALUES AND PERSONALITY

14

OUR KEY RELATIONSHIPS

15

OUR BUSINESS MODEL

16

Strategic Review

17

CEO's Statement

17

Our Value Creating Business Strategy

19

Group performance

21

Digital Transformation and Innovation

25

Personal Banking

26

Business Banking

29

Wholesale Banking Group

31

Islamic Banking

35

RAKINSURANCE

37

Sustainability Review

38

Our Sustainability Management Approach

38

A new sustainability management strategy

38

Vision 2031

39

Looking ahead: Our commitments for 2023

39

Our Materiality

40

Developing Our Workforce

43

Diversity, Inclusion and Talent Attraction

43