BML Announces Favorable Second Quarter Financial Performance

The second quarter of 2022 saw positive financial performance according to Bank of Maldives. An operating profit of MVR 592 million was reported for the quarter, an increase of 19% over the same period last year thanks to strong performance in all core business lines and improved asset quality. The capital and liquidity ratios are still strong and far above the required levels.
 
In order to support contactless payments and wallet-to-wallet transfers, the Bank launched its digital wallet BML Pay during the quarter. The Bank announced its collaboration with Mastercard and MTCC to launch the first open loop transit card in the nation for the public transportation network, strengthening its digital strategy.
 
In the run-up to its 40th anniversary, the Bank continued its monthly initiatives with support for an upgrade at the Home for People with Special Needs (HPSN) in K. Guraidhoo, the introduction of Kindly by BML, an online platform for NGOs to raise money, and the "BML Fehi Project," which aims to plant 50,000 trees annually across the nation.
 
In-charge of the Bank and Acting MD, Aishath Noordeen shared her insights regarding the performance, “The Bank remains optimistic about overall performance, driven by solid business volumes across all key sectors. We are in a solid position to deliver on our strategy which will see improved customer experience with continued investment in digitalization and operational excellence.”
 
Bank of Maldives is dedicated to assisting people, businesses, and communities throughout Maldives. To that end, the bank has a national network of 35 branches spread out among all 20 atolls, 81 self-service banking centers, 139 ATMs, over 200 agents, and a full range of digital banking services.