Bank of Maldives (BML) has stated that it has recorded its strongest financial performance to date, posting strong earnings in the fourth quarter of 2025 and a record profit for the entire financial year.
According to the bank’s unaudited results released this week, operating profit for the fourth quarter stood at USD 53.7 million, while net profit reached USD 54.3 million. This represents an increase of more than 76 percent compared with the previous quarter.
For the year, BML reported gross income of over USD 356.7 million, up 16.1 percent from 2024. Profits before tax rose to a record USD 207.5 million, marking a 10 percent year-on-year increase.
The bank’s total assets increased by 15 percent to USD 3.61 billion, reflecting strong growth. BML said its cost-to-income ratio remained at 27 percent, while capital and liquidity levels stayed well above regulatory requirements.
During 2025, the bank disbursed USD 648.5 million in new loans to individuals and businesses, supporting economic activity across the Maldives.
Commenting on the results, BML’s Chief Executive Officer and Managing Director, Mohamed Shareef, said the performance reflected the bank’s strategic focus and disciplined management approach.
Beyond its financial results, the bank highlighted several initiatives introduced during the year. These included new financing schemes such as Green Resort Financing and Hiyavehi Financing, launched in partnership with the Ministry of Construction, Housing and Infrastructure, as well as a reduction in equity requirements for home purchase loans to five percent. The bank also established BML Affordable Home Leasing Pvt Ltd.
BML expanded its physical presence by opening its 40th branch in Raa Atoll Dhuvaafaru and completing its nationwide ATM rollout, ensuring a presence on every inhabited island.
The bank also reported progress in digital banking and payments, including the launch of online service applications, new debit and credit card products, a digital wallet, and foreign currency accounts. Partnerships were established with several international payment providers to expand digital payment options in the country.
Additional initiatives during the year included the launch of a student card, a digital platform for fishermen, environmental payment solutions, and enhanced support for small and medium-sized enterprises following the acquisition of SDFC, now operating as SME Digital. Merchant fees were also reduced to one percent.
Bank of Maldives currently operates 42 branches across all 20 atolls, along with 267 ATMs and digital banking services nationwide. The bank said it remains focused on expanding access to financial services and supporting long-term, sustainable economic growth.