The National Bank of Ras Al Khaimah (RAKBANK) has completed the sale of its merchant acquiring business line to Network International for a total consideration of AED 551 million, according to a disclosure to the Abu Dhabi Securities Exchange dated 23 March 2026.
As part of the transaction, RAKBANK will enter into a long-term strategic partnership with Network International for the exclusive provision of merchant acquiring services. The bank said the disposal was executed to realise value for the bank and its shareholders while enabling the continued growth and development of the business. The financial impact will be reflected in its results for the first quarter of 2026.
MERCHANT TRANSITION
The sale, first reported in November 2025, covers about 5,000 merchants served by RAKBANK's merchant acquiring business. Network International is integrating them into its systems in phases over six to eight months.
The two companies said the transaction closed after receiving all required regulatory approvals from the Central Bank of the UAE. Under the partnership, Network International will provide its payment solutions directly to RAKBANK's customer base, which spans small and medium-sized enterprises (SMEs) and large corporates, together with value-added digital commerce services.
The companies said they would work with existing merchants to ensure a seamless transition. The deal also enables Network International to serve growing merchant demand for digital commerce solutions in Ras Al Khaimah, and the partners said it supports the goals of the UAE's Digital Economy Strategy.
Following the disposal, RAKBANK said it continues to maintain a robust balance sheet, with one of the strongest capital and liquidity positions in the UAE banking sector. The disclosure to the exchange was signed by Group Chief Financial Officer Mohammed Jaffer Nini.