Fitch Ratings has upgraded Bank of Maldives’ (BML) Long-Term Issuer Default Rating (IDR) to ‘CCC-‘ and revised its outlook to ‘Stable’. This upgrade follows the positive shift in the Maldives’ sovereign rating, while the bank’s Viability Rating was also elevated to ‘ccc+’ reflecting its strengthened standalone financial profile. Fitch highlighted BML’s dominant market position, robust risk management frameworks, and consistent profitability as key drivers for this rating. Commenting on the achievement, BML CEO Mohamed Shareef stated that the rating reflects the bank’s financial resilience and its capacity to navigate economic challenges. This international recognition further cements BML’s position as the cornerstone of the Maldivian financial system.
