Bank of Maldives (BML) has reported strong financial results for the third quarter of 2025, reflecting sustained growth and continued nationwide expansion.
According to the bank’s statement, operating profit for the quarter reached MVR 791 million, matching the previous quarter and marking a 10 percent increase compared to the same period last year. Net profit stood at MVR 475 million, underscoring the bank’s solid profitability and operational efficiency.
Expanding Lending and Asset Base
The bank’s total assets climbed to MVR 51.5 billion, with customer deposits rising to MVR 33.7 billion by the end of Q3. Lending activity remained strong, as MVR 6.5 billion in new loans were issued to individuals and businesses year-to-date. BML confirmed that its capital adequacy ratio remains well above regulatory thresholds, reinforcing its stable financial position.
CEO Emphasizes Community Growth
Commenting on the results, CEO and Managing Director Mohamed Shareef highlighted BML’s dual focus on performance and purpose.
“We take great pride not only in our strong financial performance but also in our unwavering commitment to shaping the nation’s future—by empowering communities, supporting local businesses, and driving inclusive economic growth,” he said, expressing confidence in maintaining positive momentum through the rest of the year.
Major Expansion and Strategic Acquisition
During the quarter, BML achieved a key milestone with the completion of the “Mulhi Raajje ah BML ATM” project, launched in February 2025. Within just nine months, the initiative established Self-Service Banking ATMs across 105 islands, significantly improving financial accessibility nationwide.
The bank also announced the acquisition of the SME Development Finance Corporation (SDFC), which will be transformed into a Shari’ah-compliant, digital-first subsidiary. This strategic shift aims to broaden financing opportunities for micro, small, and medium enterprises (MSMEs) through technology-driven solutions.
Nationwide Network and Vision
As the largest financial institution in the Maldives, BML now maintains a presence in every inhabited island, offering services through branches, ATMs, self-service centers, cash agents, and digital platforms. The bank reaffirmed its commitment to advancing financial inclusion and empowering both individuals and businesses across the archipelago.
