- Deposits at MVR 31 billion
- MVR 17.7 billion on loans by individuals
- Loans issued increased significantly
Central Bank, Maldives Monetary Authority (MMA) says the deposits for the first quarter had increased by 10 percent, with banks issuing 20 percent more loans to individual businesses.
MMA said by the end of June, the deposits in bank amounted to MVR 31.6 billion. The loans issued by commercial banks for individual businesses had also increased by 20 percent, with loans issued at MVR 17.7 billion. Most of private sector loans was issued to tourism sector.
The financial sector of the country is reporting better returns. Commercial Bank of Maldives (CBM) was opened recently.
