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BML posts strong Q3 financial performance

Mohamed Rehan
31 October 2022, MVT 11:06
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Mohamed Rehan
31 October 2022, MVT 11:06

Bank of Maldives (BML) published its financial performance for 2022 third quarter.

The national bank reports a net profit after tax of MVR 367 million, and an operating profit of MVR 694 million which is a 17 percent increment from Q2 of this year.

Business volumes across all key sectors "were robust" while maintaining a quality loan portfolio. Capital and liquidity ratios of the bank were well above regulatory requirements.

Commenting on the bank's performance, its newly appointed Chief Executive Officer Karl Stumke said, "This quarter's financial performance is encouraging with all core business lines performing well. We will work harder to meet our customers' expectations and continue to support the people of the Maldives by seeking to be their bank of choice."

"We look forward to a strong end to the year and I would like to thank our customers for their loyalty and support, the board of directors for their guidance and oversight and our hardworking team for their continued commitment and dedication," Mr. Stumke added.

The national bank currently boasts of a nationwide network of 35 branches across 20 atolls, 82 self service banking centers, 140 ATMs, 7,900 point-of-sale (POS) merchants and over 200 agents. The bank also provides its services from a full suite of digital banking services; including internet and mobile banking platforms.

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