MIB released its second quarter statistics today.
Maldives Islamic Bank (MIB) has declared a total of MVR 79.39 million as net revenue during the second quarter of this year.
This is a 97 percent increase from the second quarter of 2023.
According to MIB's quarterly report, the bank documented MVR 56 million as revenue, while the total amount of money deposited to the bank reached MVR 8.21 billion. This value was at MVR 7.58 billion during this year's first quarter. These figures suggest that the amount of funds being maintained at the bank is increasing.
MIB attributes this success to the revolutionary changes the bank brought to the country's banking system, and the public's trust despite the country's economic plight. MIB also says that youth now opt for the bank when starting businesses as well.
They also said that the secret behind this is the ability to open bank accounts without having to physically be present at a bank branch, the possibility for customers to set up internet banking by themselves, bank cards being issued instantly, and the strong safety features of the bank.
MIB is also in the process of bringing further modern changes and expanding its online services to different parts of the country.
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