The Bank of Maldives (BML) has achieved a historic milestone, doubling its ATM network within a single year, surpassing the total expansion recorded over the past 24 years.
Speaking at a special ceremony held last night to mark the simultaneous launch of 90 new Cash Recycling ATMs, CEO and Managing Director Mohamed Shareef highlighted the scale and significance of the bank’s rapid infrastructure growth.
“Currently, there are 340 ATMs established across 187 islands throughout the Maldives. The total number of ATMs inaugurated since early 2025 effectively doubles the entire network that existed prior to this period,” Shareef said.
He emphasized that self-service banking continues to see strong demand nationwide, with both Malé and island communities increasingly relying on ATM-based services for daily transactions.
Providing insight into usage trends, Shareef revealed that BML’s ATM network processed 8.4 million transactions in 2025, facilitating deposits totaling MVR 17.1 billion.
He further noted that the ATMs installed across 105 islands last year alone contributed MVR 356 million in deposits, underscoring the growing dependence on accessible banking infrastructure.
The expansion reflects BML’s broader strategy to strengthen financial accessibility and enhance customer convenience across the country, particularly in remote and underserved islands.
