Bank of Maldives' (BML) CEO and Managing Director (MD) Mohamed Shareef stated last night that the bank has not invested in any government T-bills or bonds in violation of or beyond the risk guidelines set by the bank's board.
As per BML's 2025 yearly report, the amount invested in government T-bills and treasury bonds (T-bonds) had gone up to MVR 15.4 billion.
That is an MVR 2 billion increase from 2024. The bank had invested MVR 13.2 billion in government issued securities in 2024.
Along with government T-bills, a total investment of MVR 20 billion was made towards Reverse Repurchase, Corporate Bonds and Wakalah investments. This is an MVR 6 billion increase from 2024.
Speaking at the bank's 43rd Annual General Meeting (AGM), Shareef stated last night that the bank has always invested in government T-bills and bonds.
Shareef gave his assurance that even though the invested amount in 2025 was higher compared to 2024, there have been no violations to the risk guidelines determined by their board.
"The bank's investments towards the Maldivian government's treasury bills and bonds always take capital into account and are more or less at the same level," said the MD.
"We have never been in violation of the risk appetite guidelines that have been set by the bank's board in the investment of T-bills."
According to Shareef, the bank generally invests in T-bills with a maturity of one year or less. He highlighted that the T-bills that were invested in last year would see a rollover in their numbers.
Shareef stated that the amount invested in T-bills and bonds last year are from the T-bills that had rolled over.
"These are not T-bills that have been newly invested in," said the CEO and MD.
Shareef also highlighted that of the USD 192.8 million in Maldivian Rufiyaa invested in T-bills, it includes a conversion to a USD T-bond.
He described this as a vital step that was taken towards the bank's Net Open Position (NOP) or in minimizing the dangers of the foreign currency exchange rate.
A record year financially
BML achieved a financial record last year.
As per Shareef, this result shows stable financial growth, efforts in expanding services and the attention paid in tending to the responsibilities as the national bank of Maldives.
BML received MVR 2.5 billion in net profit after taxes. This is a 9.8 percent increase from the previous year.
Shareef went on to say that this is the highest net profit that the bank has achieved in its 43 year history.
With the growth in BML's balance sheet, their total assets have gone up to MVR 55.8 billion.
Last year, BML had loaned out and financed MVR 10 billion for the first time for the needs of private individuals, small-and-medium enterprises, businesses of corporate customers and in developing and expanding important economic industries.
That year marked the highest loan amount that was given out in the history of the bank.
More than 30,000 new customers had signed up to BML in the last financial year, with a 16 percent increase in customer deposits compared to 2024.
