Bank of Maldives has announced its financial performance for the third quarter of 2022. The bank posted a Net Profit After Tax of MVR 367 million and an Operating Profit of MVR 694 million, a 17% increase over the previous quarter.
BML noted that their volumes across all key sectors were robust whilst maintaining a quality loan portfolio. Capital and liquidity ratios are well above regulatory requirements and the Bank expects to close the year strongly, BML said.
Throughout the year, BML has continued its support to local communities, opening two new Self Service Banking Centres in Haa Alif Atoll Filladhooo and Vashafaru. The bank also established a dedicated Oncology Ward at Indira Gandhi Memorial Hospital (IGMH) and supported the upgrade of National Museum, as well as announced BML’s Sports Scholarship program.
Commenting on the results, the CEO, Karl Stumke, said, “This quarter’s financial performance is encouraging with all core business lines performing well. We will work harder to meet our customers’ expectations and continue to support the people of the Maldives by seeking to be their bank of choice. We look forward to a strong end to the year and I would like to thank our customers for their loyalty and support, the Board of Directors for their guidance and oversight and our hardworking team for their continued commitment and dedication.
BML has a network of 35 branches across all 20 atolls, 82 Self Service Banking Centre’s, 140 ATMs, 7,900 Point of Sale merchants, over 200 agents and a full suite of Digital Banking services.