Bank of Maldives (BML) has reported a net profit of MVR 631 million for the first quarter of this year, marking a significant 26.9% increase compared to the same period last year. The Bank’s total revenue rose to MVR 1.24 billion, driven by robust performance in loans and financing, as well as a growth in fee and commission-based income. While operating expenses were effectively managed, the Bank’s total assets surpassed the MVR 60 billion milestone for the first time in its history.
Furthermore, customer deposits grew to MVR 40.7 billion, and the total loan portfolio expanded to MVR 27.6 billion. The Bank also observed a substantial year-on-year increase in the volume of US Dollars provided for foreign remittances and card transactions. This strong financial performance underscores the Bank’s notable achievements and growth across all key business segments.
