The National Bank of Ras Al Khaimah (RakBank) on Monday reported a net profit of AED668.7m ($182m) for the first half of 2012, a 13.5 percent growth compared to same period of 2011.
The bank also said in a statement that profits in the second quarter of the year were 5.6 percent higher than the first quarter.
"We are pleased with the positive results reported for the first six months as they reflect the continued growth in our customer base," said Graham Honeybill, CEO, RakBank.
"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 bank said it 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".
It said it has seen solid growth in the small business and personal finance segments. As a result, net interest income grew 17 percent over 2011 to AED1.1bn.
Gross loans and advances stood at AED19.9bn, an increase of 6.4 percent over December 31 2011 and an increase of 11.5 percent year-on-year.
It added that the total impairment charge for the six months stodd at AED114.6m.
"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.
Loans and advances, the main drivers of income, grew by AED1.18bn during H1, while deposits grew by AED1.99bn enabling the bank to "maintain healthy loans to deposit and liquidity ratios", the statement added.