End to the year marks one of our strongest years: Shareef

Bank of Maldives (BML) CEO and Managing Director Mohamed Shareef has said that the end of the year marks one of the most successful years for the bank as of yet.

While speaking during a PSM program yesterday, he said that the financial status of the biggest bank in Maldives is quite good, with their profits and financial ratios showing "one of the strongest" years they have had by the end of the year.

"We can see this when we look at our numbers up until October," said Shareef.

As per the BML CEO, their strategic plan shows that their business is further expanding as well. Shareef believes that due to this, next year will see even more success.

He went on to say that the bank started off with just MVR 10 million in capital, with it now being at MVR 10 billion, allowing them to offer major assistance to the public. Shareef said that the purpose of giving out big loans and making large profits is to make them a "big bank."

"We want to increase our capital even further and expand our business internationally. We can honestly say that the bank is at such a level. The bank's businesses are good and our risk management is quite strong," said the CEO.

As per Shareef, there are international parties that believe in BML's strength.

While gesturing to the criticism the bank faces, Shareef said that the bank operates within their rules and regulations. He also assured that they have not stepped beyond the bounds of international rules and regulations.

"This can be properly assured from our audits. We are a company that conducts audits once a month. There is an ongoing year-end audit as well. We have annual general meetings. We are responsible towards our shareholders. We submit all this information to the AGM as well," said Shareef.

"The bank will see even further progress many times over. I even assure our shareholders that profits will increase and what we can do will increase as well," said the BML CEO.