Bank of Maldives (BML) shareholders have voted last night to approve the payment of a record dividend of MVR 86.1 million- 16 Rufiyaa share for 2014.
With an increase of 22 per cent of profits from the year 2013, 2014 was a strong financial year for the Bank with Operating Profit exceeding MVR 1 billion for the first time.
The Bank noted that as the Bank continued to lend to Maldivian individuals, businesses and corporates, Total Assets increased by 23 per cent and Deposits up to 25 per cent.
Speaking at the conference held last night, CEO and Managing Director of BML – Mr. Andrew Healy stated that one of the most pleasing aspects of looking back on 2014 was that they made a number of key investments which will be beneficial to their customers and country over the years to come. He added that these investments included one of their largest ever technology changes program –a financial inclusion project - the introduction of Self Service Banking and branch refurbishment program which was introduced as a means of providing those services to all inhabited islands of the country, which is currently halfway through being accomplished.
Mr. Healy noted that therefore, their profitability in 2014 was not achieved at the expense of failing to invest, yet that they had in fact invested more than ever before in communities, in technology, in building a platform for continuing success.
Furthermore, Mr. Healy congratulated and expressed his gratitude to the employees of the Bank, as well Heads of the company for their hard work and continuous support.
“We’ll need to remain focused and resolute to keep the positive momentum going. During 2015 we’ll work hard to continue to improve. We’ll invest more in financial inclusion, in supporting individuals and businesses to fulfill their ambitions and in improving customer service standards. We’ll continue to build a Bank we can all be proud of,” he added.