Bank of Maldives (BML) has been recognised in Forbes’ World’s Top Performing Banks 2026 ranking, placing the country’s largest banking institution among 500 banks selected from 89 countries based on their financial performance and operational strength.
The recognition marks a milestone for the Maldivian banking sector, with BML securing a place in the inaugural edition of the international ranking, developed by Forbes in collaboration with global market research company Statista.
Unlike rankings based primarily on customer opinions or brand reputation, the assessment examines financial and operational indicators to evaluate how banks perform against international standards.
BML was placed in Tier 6, a category covering financial institutions with total assets ranging from USD 3 billion to USD 10 billion.
This means the bank was assessed against international institutions operating at a comparable scale, rather than being directly measured against the world’s largest banking groups.
The ranking evaluates banks across four main areas: profitability, growth and earnings quality, capital and funding resilience, and asset quality and efficiency.
These indicators are intended to provide a broader assessment of a bank’s financial position, including its ability to generate sustainable earnings, maintain sufficient capital and manage risks associated with lending and other operations.
The analysis draws on financial information from established data providers, including S&P Capital IQ, alongside independent research and publicly available financial disclosures from banks.
Forbes and Statista divided the recognised institutions into six tiers, allowing banks of different sizes to be evaluated within relevant categories.
Major international financial institutions, including JPMorganChase, DBS, OCBC and HDFC Bank, feature in Tier 1 of the ranking.
BML’s inclusion in Tier 6 places it among internationally recognised banks within its asset-size category and provides an additional external reference point for assessing its financial performance.
Commenting on the recognition, BML Chief Executive Officer and Managing Director Mohamed Shareef said the ranking reflected the bank’s financial results and its approach to managing risk.
He noted that the assessment was based on financial data and comparisons with banks of similar size around the world.
According to Shareef, the recognition demonstrates the importance of maintaining strong capital levels, responsible lending practices and effective governance.
He said the bank’s financial position should provide reassurance to customers while demonstrating its ability to create long-term value for shareholders.
Shareef also reaffirmed BML’s responsibility to the wider Maldivian economy, saying the institution would continue strengthening its operations, investing in employees and technology, and supporting businesses and communities.
As the country’s national bank, BML occupies a central position in the Maldives’ financial system, providing banking services to individuals, businesses and institutions across the archipelago.
Its operations include personal and business banking, financing, payment services and digital banking facilities, making the institution an important part of everyday financial activity.
The bank’s lending and financing services also contribute to economic activity by supporting businesses and individuals seeking access to capital.
In recent years, digital banking has become an increasingly important component of financial services in the Maldives, where the country’s dispersed geography presents challenges for delivering conventional banking services to every community.
Investments in digital platforms and banking infrastructure have helped expand the ways customers can access financial services without relying exclusively on physical branches.
Against this backdrop, financial stability and effective risk management remain important considerations for institutions serving a relatively small economy with significant exposure to tourism and international economic conditions.
BML said the Forbes recognition reflects its commitment to maintaining a resilient financial position while continuing to expand access to banking services.
The bank described the achievement as an incentive to further improve its operations and strengthen the services it provides to customers, shareholders and the wider Maldivian economy.
