Bank of Maldives (BML) has reported an unaudited annual net profit (after tax) of MVR 1.48 billion.
The largest bank in the country reported a quarterly net profit of MVR211 million in the final quarter.
According to the bank’s fourth-quarter financial report, BML generated MVR995 million in gross income in the final quarter of last year. The bank generated an annual income of MVR3.89 billion in 2022.
BML reported an operating income of MVR747 million and an operating profit of MVR488 million in the review quarter. The bank’s annual operating income stood at MVR3.07 billion, and its annual operating profit reached MVR2.39 billion.
The bank’s total assets for the year grew by almost MVR3 billion. Customer deposits increased by MVR1.8 billion. BML recorded MVR4.3 billion in new loans to businesses and individuals in 2022.
The capital and liquidity ratios of the bank remained solid and well above regulatory requirements.