The Bank of Maldives (BML) has reported a strong start to 2025, posting an operating profit of MVR 698 million and a net profit of MVR 497 million for the first quarter. This performance underscores the bank’s continued growth trajectory following a record-breaking year in 2024.
A significant contributor to this success was the disbursement of MVR 1.7 billion in new loans to individuals and businesses during Q1, marking a 72% increase compared to the same period in 2024. The net loan portfolio expanded by over MVR 470 million, reflecting robust demand across key sectors.
BML’s capital and liquidity positions remained strong, comfortably exceeding regulatory requirements. The bank’s extensive network—comprising 39 branches across all 20 atolls, 107 self-service banking centers, 165 ATMs, agent banking services, and comprehensive digital banking solutions—continues to support its nationwide reach.
CEO and Managing Director Mohamed Shareef expressed confidence in the bank’s momentum, stating, “The Bank recorded its best ever financial performance last year, and we are pleased to continue this momentum into the first quarter of 2025. Our solid financial position enables us to further our mission of expanding banking access and enabling growth for individuals, businesses and communities across the country.”
In 2024, BML achieved a net profit of MVR 2.1 billion, a 4% increase from the previous year, and proposed its highest-ever dividend payout of MVR 296 million (MVR 55 per share). The bank also launched initiatives like the “Mulhi Raajje ah BML ATM” project, aiming to install ATMs on all inhabited islands by the end of 2025, and the ‘Bank Fund’ to support NGOs and sustainable development projects.
As BML continues to build on its strong foundation, the bank remains committed to driving inclusive growth and financial accessibility across the Maldives.
