Bank of Maldives (BML) has approved a dividend of 55 rufiyaa per share at its Annual General Meeting. This is the largest dividend amount approved in BML’s history. Many shareholders participated in the Annual General Meeting held by Bank of Maldives at Nasandhura Palace Hotel. At this meeting, the bank approved distributing 55 rufiyaa per share for shares with a face value of 50 rufiyaa.
BML stated that the past year was the best financial year in Bank of Maldives’ history. The bank earned a revenue of 2.8 billion rufiyaa last year. While 643 million rufiyaa was paid in taxes last year, the net profit after tax was 2.25 billion rufiyaa. This is an 8 percent increase compared to the previous year. Speaking at the meeting, Bank of Maldives CEO Mohamed Shareef said that this success demonstrates the bank’s robust management and stability. He also said that this is the result of the hard work of the bank’s employees.
Furthermore, Shareef highlighted that they are maintaining this success this year as well, similar to last year. “In the first quarter of this year, we have earned an operating profit of 698 million rufiyaa and a net profit of 497 million rufiyaa. In the first quarter, BML has newly disbursed 1.7 billion rufiyaa in loans to individuals and businesses, which is a 72% increase compared to the first quarter of last year. These results are evidence of our robust principles in implementing our strategy, risk management, and the trust customers have in the bank,” said Shareef.
While Bank of Maldives has approved the dividend amount to be distributed to shareholders, BML stated that this money will be deposited to shareholders on Thursday.
