Friday
31st Jul 2026
Dhivehi Edition
The Bank of Maldives. | Photo: TMJ
The Bank of Maldives (BML) has reported a record financial performance for the first six months of 2026, posting a net profit after tax of MVR 1.3 billion, according to its second-quarter financial results released on Thursday.
The bank said the first-half net profit represents a 21 percent increase compared with the same period last year. Operating profit rose to MVR 1.8 billion, while net profit for the second quarter alone reached MVR 647 million.
BML attributed the strong results to disciplined risk management and operational efficiency despite continued changes and challenges in the global financial environment.
During the first six months of the year, the bank generated MVR 3.2 billion in total income, including MVR 1.6 billion in net interest income and MVR 830 million from fees and commissions.
The bank's total assets increased to MVR 62.8 billion, while customer deposits grew to MVR 41.6 billion.
BML also continued to play a significant role in providing foreign currency to businesses and individuals. During the first half of 2026, the bank supplied more than USD 478 million in foreign exchange, averaging approximately USD 80 million per month.
Of that amount, USD 166 million was provided for telegraphic transfers (TT), while USD 226 million was allocated for card transactions.
The bank said it continues to invest heavily in digital banking services and innovation initiatives, including the Maldives AI Lab. Looking ahead, BML said it remains well positioned with a strong balance sheet, solid liquidity and financial resilience to support future growth.