Rakbank Kept at Accumulate as FAB Notes Q2 Results

03:00 AM EDT, 07/28/2026 (MT Newswires) -- FAB Securities reiterated its investment view and price target of The National Bank of Ras Al-Khaimah (ADX:RAKBANK), d/b/a Rakbank, following the release of the lender's second-quarter results. "We maintain our ACCUMULATE rating on RAKBANK with a target price of AED 10.0. The Bank's share price rose marginally since our last rating. RAKBANK reported resilient profitability growth in 2Q26, primarily driven by higher net funded and non-funded income, supported by continued loan and investment growth, stronger foreign exchange income and higher investment income, despite higher funding costs, impairment charges and disciplined cost management, with continued investments in technology and customer experience," analysts said in a Monday note. For the three-month period, the bank logged a 5.4% year-over-year increase in attributable net profit to 702 million dirhams, surpassing the research firm's 552 million-dirham estimate. Net funded income rose 1.1% annually to 919 million Emirati dirhams, against FAB's estimate of 932 million dirhams. "With a resilient balance sheet, strong capital buffers and improving asset quality, RAKBANK remains well positioned to deliver sustainable profit in 2026," the research firm added.