Thursday 30th May 2024
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Bank of Maldives

Bank of Maldives Continues Strong Performance with Nationwide Network and Digital Services

The Bank of Maldives (BML) has reported strong financial results for the final quarter of 2022 with a Net Profit After Tax (NPAT) of 212 million and an Operating Profit of MVR 489 million.
BML's unaudited full-year NPAT was MVR 1.48 billion, a year-on-year increase in underlying earnings. Total assets grew by nearly MVR 3 billion, and customer deposits increased by MVR 1.8 billion. The bank recorded MVR 4.3 billion in new loans to businesses and individuals, with continued improvement in loan book quality. Capital and liquidity ratios remained well above regulatory requirements.

BML's CEO and Managing Director, Karl Stumke, commented on the results, expressing his gratitude for the hard work of BML's dedicated team, loyal customers, and Board of Directors. Stumke also highlighted the special significance of 2022 as the bank celebrated its 40th anniversary, implementing 12 community initiatives to benefit customers and communities across the Maldives.

BML has a widespread presence in the country, with 38 branches, 84 Self Service Banking Centres, 142 ATMs, 277 agents, and a comprehensive range of digital banking services. The bank is dedicated to supporting individuals, businesses, and communities throughout the Maldives.

In conclusion, the Bank of Maldives continues to deliver solid financial performance, as demonstrated by its Q4 2022 results. The bank's commitment to serving the Maldives and its communities is evident, and its investment in digital banking services and nationwide network of branches makes it well-positioned for continued growth and success in the future.