MIB profits rise by 35 percent

Maldives Islamic Bank (MIB) recorded a profit of MVR 375 million at the end of last year, according to the bank’s unaudited financial statements.

The figure marks a 35 percent increase compared to the previous year. In 2024, the bank reported a net profit of MVR 278 million, reflecting a year-on-year increase of MVR 97 million.

MIB’s revenue reached MVR 895 million last year, up by MVR 186 million from MVR 709 million recorded in 2024. Total expenses for the year stood at MVR 394 million.

Established 15 years ago, MIB went public in 2019. Since its inception, the bank has consistently grown its profits while expanding its operations and market presence.