Bank of Maldives Announces Successful Third Quarter With Strong Financial Performance
Yesterday, Bank of Maldives announced its third-quarter results, depicting a positive image with strong financial performance. The Bank acquired a Net Profit After Tax of MVR 367 Million and an Operating Profit of MVR 694 Million, which is a 17% increment when compared to the previous quarter.
The Bank reported a sturdy performance across all business volumes of prominent sectors and maintained a quality loan portfolio. Moreover, this quarter also saw capital and liquidity ratios sustained above the regulatory requirements and the Bank forecasts to close the year strongly.
Additionally, Bank of Maldives (BML) remains committed to supporting local communities and has established two new Self Service Banking Centres in Filladhoo and Vashafaru in Haa Alifu Atoll. In honour of its 40th anniversary, the Bank has been carrying out high-impact community initiatives each month since last November. So far, some of the initiatives featured under the campaign include extending support to build a dedicated Oncology ward at IGMH Hospital, upgrading the National Museum and announcing the Sports Scholarship program.
Reflecting on the quarter, CEO of BML, Karl Stumke remarked “This quarter’s financial performance is encouraging with all core business lines performing well. We will work harder to meet our customers’ expectations and continue to support the people of the Maldives by seeking to be their bank of choice. We look forward to a strong end to the year and I would like to thank our customers for their loyalty and support, the Board of Directors for their guidance and oversight and our hardworking team for their continued commitment and dedication”.
Boasting an impressive 35 branches across 20 atolls, 82 Self Service Banking Centres, 140 ATMs, 7900 Point of Sale merchants and 200+ agents along with a full suite of Digital Banking Services, BML continues in its wake to support individuals, businesses and communities all over the Maldives.