Bank of Maldives (BML) posts a net profit of MVR299 million for the second quarter of 2021.
According to the national bank of Maldives, their net profit margin observed a significant 181% increment in comparison with the corresponding quarter of 2020.
Earlier, during the second quarter of 2020 the bank’s net profit stood at MVR106 million, largely due to the economic wind-down from the Covid-19 impact.
The bank reports a total revenue of MVR785 million along with an operating profit of MVR496 million, which is a 38% increase when compared with the same quarter of the previous year.
Moreover, the bank’s profit before tax stood at MVR409 million during review quarter.
As per the statistics, BML made over MVR506 million in interest charges during the second quarter along with another MVR244 million in fees and commissions.