Bank of Maldives (BML) had received a net profit of MVR 1.9 billion last year.
The banks unaudited financial reports indicate a 17% increase in their profits in comparison to the previous year. BML collected a revenue increase of 400 billion with an income of MVR 4.4 billion last year. This is a MVR 200 million increase compared to last year which generated an income of MVR 1.6 billion.
Last year marks their largest profit with the second highest income year being 2021 with a profit of MVR 1.7 billion. Despite facing significant losses due to the COVID-19 pandemic with a profit of 325—a 70% decrease--, the bank has overcome the pandemic inflicted casualties to their revenue and surpassed their best financial profit margins last year.
The company saw a profit of MVR 361 million in the last quarter of the previous year. Their best profit rate, however was during the second quarter of 2023 with an income of MVR 551 million.
The company had issued new loans with a grand total of MVR 5 billion, increasing the number of loans issued till present to 19 billion. Additionally, the deposited amount reaches MVR 31 billion.
The largest bank in the country, BML’s total capital reaches MVR 45 billion. With 340,000 customers utilizing their services, about MVR 85 million internet transactions have been conducted within the bank.