The Bank of Maldives (BML) has made a net profit of MVR 527 million in Q1 of 2013.
BML said in its quarterly report published today, that it made a record net profit of MVR 527 million in Q1 of 2013 (January to March 2013). This is an increase in net profit of MVR 354 million when compared with Q1 of 2012.
BML also made MVR 303.3 million as operating profit, which is a 106 percent increase compared with Q4 of 2012.
Its deposits increased by MVR 1.45 billion to reach MVR 9.25 billion, and total assets increased from MVR 10.16 billion to MVR 12.23 billion.
BML said that the bank’s financial position has improved, and that MVR 1.7 billion will be distributed as dividends to shareholders. BML’s present Capital Adequacy Ratio is 26 percent, which according to the bank is remarkable when compared with the minimum requirement of 12 percent.