BML posts positive second quarter results

National bank, Bank of Maldives (BML) has reported positive financial performance for the second quarter of 2022.

BML reported good performance in all core business lines and improved assets quality, with an Operating Profit of MVR 592 million. This figure is up 19% on the same period last year. Capital and liquidity ratios remained solid and well above regulatory requirements, said BML.

During the quarter, the Bank introduced its digital wallet BML Pay on the Mobile Banking app to enable contactless payments and wallet-to-wallet transfer services. Reinforcing its digital strategy, the Bank announced its partnership with Mastercard and MTCC to introduce the country’s first open loop transit card for the public transport network. 

The Bank continued its monthly initiatives in the lead-up to its 40th anniversary with support to upgrade the Home for People with Special Needs (HPSN) in K. Guraidhoo, launch of Kindly by BML, an online fundraising platform for NGOs and the ‘BML Fehi Project’ to plant 50,000 trees annually across the country. 

In-charge of the Bank and Acting MD, Aishath Noordeen said the bank remains optimistic about overall performance, driven by solid business volumes across all key sectors. She said the bank is in a solid position to deliver on its strategy which will see improved customer experience with continued investment in digitalization and operational excellence.

With a nationwide network of 35 branches across all 20 atolls, 81 Self Service Banking Centres, 139 ATMs, over 200 agents and a full suite of Digital Banking services, Bank of Maldives is committed to supporting individuals, businesses and communities across Maldives.