The Bank of Maldives (BML) has stated that it paid MVR315 million last year as taxes to the state.
The bank invested MVR300 million last year as part of their Aharenge Bank Investment Programme and earned a profit of MVR1.6 billion, before taxes.
According to their 2018 annual report, this was a 13% increase compared to the previous year.
The report went on to state that total income earned last year reached MVR2.5 billion, which was a 10% increase compared to the year before.
Additionally, the report also stated that the bank’s income through interest rose by 12% and that nearly half of the total income was earned through income without interest. The official figure given was MVR606 million.
The BML Board of Directors decided that MVR129.2 million from the bank’s profits would be given as dividends. That comes up to about MVR24 per share.
The total amount deposited by the customers using BML is now about MVR15.3 billion while the total in loans given by the bank is about MVR12.2 billion.