- 20 million dollars invested in past two years
- BML ahead of local and regional rivals
- Maldives an attractive place to invest
Bank of Maldives benchmarks well against other local and regional banks, Andrew Healy, CEO and Managing Director of Bank of Maldives (BML) has said.
Healy speaking during the AGM of the Asian Bankers Association (ABA) in Vietnam last week where he was re-elected to the Board of Directors pointed out that the increased competition in the Maldives financial services market, an expanding stock exchange and the recent allocation of a sovereign credit rating were positive developments for the country.
“A vibrant, competitive banking sector is essential for any developing country and the sector in the Maldives continues to move in the right direction. Over the last few months alone we have seen a new bank enter the market and a number of new companies choose to list on the local stock exchange. Bank of Maldives is proud to play a leading role in the country’s economic development as a vital partner for thousands of individuals, families and businesses," he said.
"When I look at our financial, credit and capital ratios, our Bank benchmarks well against other Asian banks. We have been growing our presence and improving the lives of communities through investing 10 million US dollars each year over the past two years and this investment will be stepped up even further going forward.”
Healy also stressed that Maldives continues to be an increasingly attractive place to do business with a supportive legal, taxation and trade environment already in place.
"The recent publishing of the country’s first sovereign credit rating represents a positive and welcome development which will hopefully give investors the confidence to pursue opportunities here," Healy said.
