Bank of Maldives finished 2014 with a strong final quarter as it recorded an operating profit of MVR 434 million, an increase of 74% on the previous quarter.
In terms of the full year 2014, BML advised that its financials have not yet been audited but that preliminary figures show good year on year growth in most areas.
The Bank expects to report a satisfactory overall outcome for 2014, with like-for-like profits well up on 2013. Unaudited 2014 financials show an increase in operating profit of 43% versus 2013 while loan book quality improved and capital levels are well in excess of regulatory requirements.
Commenting on the results, CEO and Managing Director Andrew Healy stated “I would like to thank all our staff for their hard work in finishing the year so positively. We will report more fully when our audited financials are available but it is pleasing that the positive momentum in our business continues as the Q4 numbers suggest. Equally pleasing is that loan book quality and service levels are trending in the right direction, though we of course recognise the potential to continue to improve.”