MIB received MVR 82 million in profit in third quarter

Maldives Islamic Bank (MIB) has earned MVR 82 million as net profit in the third quarter of this year.

This is a 54 percent increase when compared to 2023.

The third quarter report published by MIB shows that the bank's asset value has reached MVR 10 billion in this quarter. This is the first time that this amount has been reached, and is a 34 percent increase when compared to the third quarter of last year.

The report indicates that the bank's financing portfolio has increased to MVR 5 billion. This is a 45 percent increased compared to the same period last year.

As per the report, the bank's deposit base reached MVR 8 billion in the second quarter, which is 26 percent improvement achieved over the past year.

The bank's revenues have also increased by 51 percent compared to the third quarter last year.

MIB highlights that it has seen consistent improvement in all three quarters this year.