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BML reports profits worth MVR 1.2 billion

Ahmed Aiham
21 October 2019, MVT 16:59
Bank of Maldives (BML) CEO and Managing Director Tim Sawyer. BML noted MVR 1.2 billion in profit following the end of the third quarter. PHOTO: BANK OF MALDIVES
Ahmed Aiham
21 October 2019, MVT 16:59

Bank of Maldives (BML) on Monday announced that the bank recorded its operating profit at MVR 1.2 million by the third quarter of 2019.

This is an increase of four percent compared to the same period in 2018.

Reaching MVR 307 million in the third quarter as Profit Before Tax (PBT), BML noted a five percent increase compared to the second quarter.

A total of five Self Service Banking Centers were established in four Atolls during the third quarter. The bank also opened a US Dollar ATM in reclaimed suburb Hulhumale'.

Furthermore, BML invested in over 40 activities within the areas of education, environment, sports and community development as part of it's Corporate Social Responsibility (CSR) Program.

“With our sustained strong financial performance, we are pleased to continue the positive momentum created during the first half of the year", said BML CEO and Managing Director Tim Sawyer.

"We look forward to a positive end to the year and I would like to thank our hardworking team for their continued commitment and dedication".

BML's nationwide network comprises of 37 branches across 20 atolls, 49 Self Service Banking Centres, 113 ATMs, 5,700 Point of Sale merchants and 277 agents and a suite of Digital Banking services.

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