Bank of Maldives has confirmed that its shareholders will receive a record dividend payment for a third consecutive year. Shareholders voted to approve the proposed pay-out of MVR 91.4 million (MVR 17 per share) at the Bank’s Annual General Meeting held at Kurumba Maldives tonight.
BML continued its positive momentum in 2015 with a Profit Before Tax of MVR 932 million, up 29% on 2014, a performance that was achieved while the Bank simultaneously invested MVR 150 million in new branches and services as part of its ongoing investment program.Bank of Maldives’ net loan book increased by 22% while loan book quality maintained its positive trend with solid reductions in non-performing assets across the portfolio.Capital and liquidity ratios finished the year at healthy levels and were well above regulatory requirements.The Bank’s share price appreciated by 30% over the course of the year.
Addressing shareholders at tonight’s AGM, BML’s CEO & Managing Director, Andrew Healy commented “I’m pleased to say that 2015 was a strong year for the Bank. Strong in terms of financial performance but - equally importantly - strong in terms of investment and giving back to the people and communities we serve. We committed to invest MVR 300 millionover the course of 2015 and 2016 and last year we completed the first half of that investment program through opening new branches and Self Service Banking Centres, rolling out cash agents to inhabited islands, refurbishing our premises and upgrading technology.”
Thanking staff, shareholders and customers for their support and loyalty, Andrew added “We have good momentum in our business and going forward we will invest further in supporting the country’s businesses, individuals and families to fulfil their ambitions. Bank of Maldives will continue to work hard and humbly to make our shareholders, our customers and our staff proud.”
With a nationwide network of 29 branches, 76 ATMs, 3,200 Point of Sale merchants, 177 cash agents, 14 Self Service Banking Centres and 5 Dhoni Banking Units, Bank of Maldives’ investment and presence far exceeds that of all other banks in the country combined.
Bank of Maldives was recently honored by Capital Finance International with a prestigious awardfor the Most Innovative Banking Team in the Indian Ocean.