Bank of Maldives (BML) recorded a net profit of MVR 2.1 billion last year.
Bank of Maldives (BML) recorded a net profit of MVR 2.1 billion last year.
According to the bank's unaudited financial statements, it is an increase of 4 percent compared to 2023. The bank's total revenue stood at MVR 4.7 billion. Compared to 2023, the bank's total assets increased by MVR 3 billion last year.
The bank disbursed MVR 5.2 billion in new loans to the public, individuals and businesses last year. According to the statements, the bank's capital and liquidity ratios were also maintained above the legal requirements.
Data shows BML recorded a net profit of MVR 725 million in the fourth quarter of last year, which is a 47 percent increase over the third quarter. The bank posted an operating profit of MVR 685 million for the quarter.
BML's CEO and Managing Director Mohamed Shareef said this year the bank will work to achieve a better result than last year.
"The strong financial performance in 2024 reflects the bank's growth and the bank's commitment to serving the society. In 2025, the bank will work with the confidence of further success with this result," he said.
BML's key projects in the last quarter of last year included the launch of a project to install ATMs in all residential islands and the provision of "bank funds" to five beneficiaries.
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