Bank of Maldives (BML) recorded a profit of MVR 1.3 billion during the first six months of this year, marking a 21 percent increase compared with the same period last year.

The bank said its operating profit for the first half of the year stood at MVR 1.8 billion.

BML reported total revenue of MVR 3.2 billion during the six-month period, with interest income accounting for MVR 1.6 billion and fees and commissions contributing MVR 830 million.

Operating expenses accounted for 28 percent of the bank's revenue.

BML attributed its continued growth to sustained business performance, strong risk management practices and efforts to strengthen its operations despite challenges in the global financial environment.

The bank's total assets increased to MVR 62.8 billion during the first half of the year, while deposits reached MVR 41.6 billion and its total loan portfolio stood at MVR 30.5 billion.

BML said the growth reflects its support for individuals, businesses and key sectors of the economy.

The bank disbursed MVR 8 billion in new loans during the first six months of the year.