- Successful half year for the bank
- MVR 571 million as net profits
- Capital, liquidity ratios above state mandated levels
Bank of Maldives (BML) posted an astounding 152 percent increase in net profits for the first half of this year, with MVR 152 million in net profits.
A statement released by the Bank said this was the "best ever half year performances", adding that capital and liquidity ratios were well above state mandated levels.
BML has been continuing its policy of re-investment of its profits to support communities through its MVR 300 million investment program. In the first half of the year, the Bank had established a branch on all 20 atolls and introduced cash agent services in all inhabited islands under this initiative.
Additionally, the Bank had repriced their policies, with a two percent reduction in housing sector finance loans and a six percent reduction in personal loans.
“These results give us a good platform to continue to invest in supporting individuals, families and businesses across the country. I would like to thank our staff for all their hard work and commitment and our customers for their continued loyalty. We are confident we can keep the positive momentum going through the second half of the year," BML CEO and MD Andrew Healy said.
In May, Bank of Maldives was honored by Capital Finance International with a prestigious award for “Most Innovative Banking Team in the Indian Ocean”. The award recognizes the Bank’s extensive commitment to providing financial services and community support right across this geographically dispersed country in a creative and customer focused manner.
With a nationwide network of 29 branches across all 20 atolls, 76 ATMs, 3200 POS merchants, 177 cash agents, 14 self service banking centers and five dhoni banking units, BML is the largest bank in the country.
