BML posts MVR 475 million net profit in third quarter amid strong financial performance

Bank of Maldives (BML) has reported a net profit of MVR 475 million for the third quarter of this year, reflecting a strong financial performance and continued business growth.

According to the national bank, operating profit for the quarter stood at MVR 791 million, marking a 10 percent increase compared to the same period last year.

BML said it has disbursed MVR 6.5 billion to individuals and businesses so far this year. As of the third quarter, the bank’s total assets stood at MVR 51.1 billion, while customer deposits rose to MVR 33.7 billion.

The bank’s capital and liquidity ratios also remained above regulatory requirements.

BML CEO and Managing Director Mohamed Shareef said the results were a source of pride not only for their financial success but also for the bank’s role in national development.

“We are proud of the bank’s commitment to building the future of the country by supporting communities, businesses, and economic growth,” Shareef said.

During the last quarter, BML expanded its services nationwide, completing its ‘BML ATMs for the Whole Country’ project. Under the initiative, ATM services were installed in 105 islands since February, achieving full national coverage this month.

The bank also acquired SME Development Finance Corporation (SDFC) during the quarter. BML said SDFC will be transformed into a digital-first, Sharia-compliant subsidiary, providing modern financial services to micro, small, and medium enterprises across Maldives.