Private-sector lending by financial institutions in the Maldives increased strongly in September 2026, reaching MVR 47.7 billion as financing continued to expand across key areas of the economy, according to the latest data from the Maldives Monetary Authority.
Total loans and advances to the private sector stood at MVR 47.69 billion at the end of September, representing an increase of 18.9 percent compared with MVR 40.12 billion recorded during the same month in 2025. Lending also rose from MVR 46.40 billion in August, reflecting continued growth in credit activity during the year.
Tourism remained the largest recipient of private-sector financing, with outstanding loans reaching MVR 15.08 billion, equivalent to 31.6 percent of total lending. The strong level of financing to the tourism sector reflects its continued central role in the Maldivian economy, supporting investment in resorts, tourism infrastructure, redevelopment projects, operational expansion and related business activities.
The Maldives has continued to strengthen its position as a leading international tourism destination, supported by ongoing investment in resort development, infrastructure improvements and initiatives aimed at expanding and diversifying the country’s tourism offering. Continued access to financing for the sector is expected to support further development of tourism properties and related services while contributing to employment, foreign exchange earnings and broader economic activity.
Construction was the second-largest recipient of financing, with outstanding loans amounting to MVR 11.18 billion, accounting for 23.4 percent of total private-sector lending. The significant level of lending to construction comes as the Government continues to advance housing, infrastructure and development projects across the country, alongside continued private-sector investment.
Personal loans reached MVR 9.61 billion, while lending to the real estate sector stood at MVR 4.20 billion. Loans to the commerce sector amounted to MVR 3.90 billion. Tourism, construction and personal lending together represented around three-quarters of all outstanding private-sector loans, demonstrating the importance of these areas in driving credit demand.
Agriculture remained the smallest lending category, with outstanding financing of MVR 20.1 million.
Private-sector lending has maintained an upward trend throughout 2026, increasing from MVR 41.97 billion in January to MVR 47.69 billion by September. The continued expansion in financing highlights growing credit activity across the economy and supports the Government’s broader efforts to promote investment, private-sector development and sustainable economic growth.
The MMA statistics cover loans and advances provided to the private sector by commercial banks and other financial corporations operating in the Maldives.
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