Bank of Maldives (BML) has reported a strong close to 2025, posting robust fourth-quarter earnings and achieving record full-year financial performance, according to its unaudited results released this week.
The bank recorded an operating profit of MVR 828.7 million in the fourth quarter of 2025, while net profit for the quarter reached MVR 837.5 million, marking a 76.2 percent increase compared to the previous quarter.
For the full year, BML’s gross income exceeded MVR 5.5 billion, representing a 16.1 percent increase over 2024. Profit before tax climbed to a record MVR 3.2 billion, up 10 percent year-on-year, reflecting sustained growth across the bank’s core business lines.
The bank’s total assets rose to over MVR 55.7 billion, a 15 percent increase compared to the previous year, underscoring continued balance sheet strength. BML also maintained a cost-to-income ratio of 27 percent, indicating strong operational efficiency. Capital and liquidity ratios remained well above regulatory requirements, the bank said.
During 2025, BML disbursed MVR 10 billion in new loans to individuals and businesses, supporting economic activity across the country.
Commenting on the results, Mohamed Shareef, Chief Executive Officer and Managing Director of Bank of Maldives, said the strong performance reflected the bank’s strategic focus and disciplined approach.
“We were pleased to close 2025 with strong fourth-quarter results, highlighting the strength of our strategic direction and the continued commitment of our people,” he said. “Growth across our core business lines, combined with disciplined risk management, enabled us to deliver solid results while maintaining a strong balance sheet.”
Beyond financial performance, 2025 marked a significant year of strategic expansion and innovation for the bank. BML introduced Green Resort Financing, launched Hiyavehi Financing at a preferential 5 percent rate in partnership with the Ministry of Construction, Housing and Infrastructure, and reduced equity requirements for home purchase loans to five percent. The year also saw the establishment of BML Affordable Home Leasing Pvt Ltd.
The bank expanded nationwide access by opening its 40th branch in R. Dhuvaafaru and completing the “Mulhi Raajje ah BML ATM” project, achieving a BML presence on every inhabited island.
Digital banking and payment services also saw major advancements. BML rolled out online applications for all services, launched the Swipe digital wallet, Visa Platinum Debit Card, Visa Infinite Credit Card, and introduced Indian Rupee and Chinese Yuan accounts. Strategic partnerships with Visa, American Express, Alipay+, Weixin Pay, UnionPay, and Mastercard further strengthened the country’s digital payments ecosystem.
Additional initiatives included the launch of the BML Student Card, the Masveriyaa Portal to support fishermen, the ENV POS initiative focused on environmental protection, the Experience Maldives campaign with American Express, and the acquisition of SDFC, now operating as SME Digital, to enhance support for small and medium-sized enterprises. Merchant fees were also reduced to 1 percent to support local businesses.
BML’s efforts were recognised internationally during the year, with awards from Qorus and Mastercard for excellence in financial inclusion and digital transformation.
As the country’s leading financial institution, Bank of Maldives currently operates a nationwide network of 42 branches across all 20 atolls, 267 ATMs, self-service banking centres on every inhabited island, and advanced digital banking platforms. The bank said it remains committed to supporting communities and driving sustainable growth through expanded access and innovative financial solutions.
