The Bank of Maldives (BML) has been recognised among the World’s Top Performing Banks by Forbes, placing the country’s national bank among 500 financial institutions from 89 countries and marking a significant international achievement for the Maldivian banking sector.
The global ranking, compiled by Forbes in partnership with market research firm Statista, assessed banks using objective financial data gathered from leading data providers, independent research and information submitted by participating financial institutions. Banks were evaluated across four key areas: profitability, growth and earnings, capital and funding strength, and asset quality and operational performance.
To ensure comparable assessments, eligible banks were divided into six tiers according to their total assets. BML was placed in the sixth tier, comprising financial institutions with total assets ranging from USD 3 billion to USD 10 billion, allowing its performance to be measured against banks of a similar scale internationally.
BML said its inclusion reflects the bank’s strong financial performance, prudent risk management and lending practices, sustained growth and robust balance sheet. The recognition also highlights the progress achieved by the Maldivian banking sector as the country continues to strengthen its financial infrastructure and create a more resilient environment for businesses, investors and communities.
As the national bank, BML plays a central role in supporting economic activity across the Maldives, providing banking services to individuals and businesses throughout the country while extending loans and financing facilities to support personal development, entrepreneurship and commercial expansion. Continued investment in digital banking and financial technology has also strengthened access to modern banking services across the geographically dispersed island nation.
BML Chief Executive Officer and Managing Director Mohamed Shareef said the Forbes ranking provides an international comparison of the bank’s financial performance against institutions of a similar size. He noted that the recognition demonstrates BML’s financial strength, adequate capital position and sound management, providing customers with further confidence in the bank and its services.
Shareef said BML would continue strengthening its institutional foundations while investing in its employees and technology and supporting the growth of businesses and communities throughout the Maldives.
The international recognition comes as the Maldives continues to strengthen its financial and economic sectors, with the development of resilient institutions, digital services and improved access to finance supporting the Government’s broader efforts to promote sustainable economic growth and private-sector development. BML’s inclusion among the world’s top-performing banks further enhances the Maldives’ international profile and reflects the increasing capacity of Maldivian financial institutions to perform alongside established banks in global markets.
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