Bank of Maldives (BML), the country’s leading financial institution, has reported a robust financial performance in the first six months of 2025, achieving a net profit of MVR 1 billion. This marks a 12% increase compared to the same period in 2024, highlighting the bank’s sound financial strategies and operational resilience amidst ongoing service expansion efforts across the Maldives.
The bank’s second quarter results were particularly strong, recording a profit of MVR 790 million, a remarkable 24% growth from Q2 2024. This represents an increase of MVR 232 million year-on-year, further reinforcing BML’s role as a key driver of economic stability and development in the country.
As of the end of the second quarter, BML’s total assets had reached MVR 51 billion, with MVR 33.6 billion in deposits. The bank disbursed MVR 3 billion in loans to individuals and businesses during this period, bringing the total value of loans issued to MVR 21.3 billion. These figures reflect strong investor confidence and the bank’s growing relevance in supporting both the private sector and everyday Maldivians.
BML CEO and Managing Director, Mr. Mohamed Shareef, credited the success to strategic decision-making focused on enhancing customer convenience, broadening the bank’s national footprint, and reinforcing long-term sustainability. “We are committed to delivering results that benefit our customers and the wider Maldivian economy. As we expand our network and services, we continue to align our financial performance with national progress,” he said.
In 2024, BML reported a total profit of MVR 2.25 billion, representing a 5% increase over 2023. The bank’s total income stood at MVR 4.7 billion last year. Its asset portfolio grew by MVR 3 billion in 2024, underscoring continued growth and stability.
BML’s commitment to shareholder returns was demonstrated in the last quarter with a record dividend payout of MVR 55 per share, totaling MVR 296 million.
The bank has also made headway in expanding financial access across the nation through its “Mulhi Raajje ah BML ATM” campaign. As of this quarter, all inhabited islands in Shaviyani, Noonu, and Meemu atolls are equipped with BML ATMs. With the successful installation of an ATM in Kaafu Huraa, the campaign has completed ATM coverage across all inhabited islands in Kaafu Atoll. These developments reflect BML’s ongoing efforts to ensure that reliable banking services are within reach for every Maldivian, regardless of geography.
Currently, BML operates a vast network that includes 40 branches, 133 self-service banking centres, and 188 ATMs across 20 atolls. This extensive infrastructure plays a vital role in enhancing economic inclusion and financial access throughout the archipelago, which is key to supporting tourism, commerce, and local livelihoods.
With a forward-looking strategy grounded in customer service, innovation, and national development, Bank of Maldives continues to play a pivotal role in shaping the fiscal and financial landscape of the Maldives. For foreign investors and tourists alike, the strength of the national bank reflects the growing maturity and reliability of the Maldivian economy.
advertisment
advertisment
