National bank, Bank of Maldives (BML)'s CEO Timothy Sawyer has decided to step down from his post.
In a letter sent to BML employees on Wednesday morning, Sawyer said he had already discussed not renewing his three-year contract with BML's board. Sawyer's contract expires in July.
Sawyer's message said the bank had seen difficult times in recent years. He said there were major challenges, especially with the COVID-19 pandemic. However, the bank has overcome those difficulties and is in a very good position to continue to succeed in the future, he said, adding that he had enjoyed his time at the bank and was proud of the bank's achievements and employees.
BML has been making significant financial progress after overcoming the COVID-19 pandemic. The bank posted a net profit of MVR 1.9 billion last year.
