Bank of Maldives (BML) has reported its strongest financial performance to date, delivering robust earnings in the fourth quarter of 2025 and achieving a record profit for the full financial year, reflecting the bank’s continued resilience, strategic direction, and pivotal role in supporting the Maldivian economy. According to the bank’s unaudited results released this week, operating profit for the fourth quarter reached USD 53.7 million, while net profit stood at USD 54.3 million, representing an increase of more than 76 percent compared to the previous quarter. For the full year, gross income surpassed USD 356.7 million, marking a 16.1 percent increase over 2024, while profits before tax rose to a record USD 207.5 million, a 10 percent year-on-year growth. Total assets increased by 15 percent to USD 3.61 billion, underlining the strength of the bank’s balance sheet, with the cost-to-income ratio maintained at a prudent 27 percent and capital and liquidity positions remaining well above regulatory thresholds.
Throughout 2025, BML disbursed USD 648.5 million in new loans to individuals and businesses, reinforcing its role as a key financial partner in driving economic activity across the Maldives. Commenting on the results, Chief Executive Officer and Managing Director Mohamed Shareef noted that the performance reflects the bank’s strategic focus, disciplined management approach, and commitment to delivering sustainable value to customers and stakeholders. He emphasized that the results also demonstrate BML’s ability to adapt to evolving market conditions while continuing to invest in growth-oriented and customer-centric initiatives.
The bank highlighted a range of new financing solutions introduced during the year, including Green Resort Financing and Hiyavehi Financing, developed in partnership with the Ministry of Construction, Housing and Infrastructure. These facilities are designed to support sustainable resort development and housing initiatives, contributing directly to the long-term resilience of the Maldives’ tourism and construction sectors. The Green Resort Financing scheme, in particular, provides tailored financial solutions for resorts seeking to invest in environmentally responsible infrastructure, renewable energy, and resource-efficient operations, strengthening the country’s positioning as a leading sustainable tourism destination. In addition, BML reduced equity requirements for home purchase loans to five percent and established BML Affordable Home Leasing Pvt Ltd, further expanding access to housing solutions for Maldivians.
BML also continued to strengthen its nationwide presence by opening its 40th branch in Raa Atoll Dhuvaafaru and completing its ATM rollout across all inhabited islands, ensuring that banking services are accessible to communities throughout the country. The bank’s physical expansion has been complemented by significant progress in digital banking and payments, with the introduction of online service applications, new debit and credit card products, a digital wallet, and foreign currency accounts. Strategic partnerships with international payment providers have expanded digital payment options, supporting both local commerce and the growing needs of the tourism sector.
Additional initiatives during the year included the launch of a student card, a dedicated digital platform for fishermen, environmental payment solutions, and enhanced support for small and medium-sized enterprises following the acquisition of SDFC, now operating as SME Digital. Merchant fees were also reduced to one percent, easing costs for businesses and encouraging greater adoption of electronic payments. Bank of Maldives currently operates 42 branches across all 20 atolls, along with 267 ATMs and comprehensive digital banking services nationwide. The bank reaffirmed its commitment to broadening financial inclusion, strengthening key sectors such as tourism and resort development, and supporting the Maldives’ long-term, sustainable economic growth for the benefit of present and future generations.
advertisment
advertisment
