Bank of Maldives Records Favourable Financial Performance in Q4 of 2022

The Bank of Maldives (BML) has disclosed a Net After Tax of 212 million and an Operating Profit of MVR 489 million for the fourth quarter of 2022. The bank revealed that the unaudited full-year Net After Tax accounted for MVR 1.48 billion with underlying earnings incrementing year-on-year. The Total Assets of 2022 grew by approximately MVR 3 billion with customer deposits growing by MVR 1.8 billion.

Moreover, BML also reported MVR 4.3 billion in new loans to businesses and individuals in the preceding year, with continued improvement in the loan book quality. The bank also noted that its capital and liquidity ratios were also maintained above the regulatory requirements. Thus, overall depicting a solid financial performance in the final quarter of last year.

Speaking on the results, BML’s CEO and Managing Director, Karl Stumke remarked “Following a solid performance in the fourth quarter of the year, we now look forward with a renewed focus on delivering on our strategy in the year ahead. I would like to thank our loyal customers, the Board of Directors and of course, our dedicated team for the great work over the past year.

Commenting further he said “The year 2022 was a special year as the Bank celebrated its 40^th anniversary. We implemented 12 high-impact monthly community initiatives to benefit communities, customers and colleagues over the year which saw the launch of initiatives in a wide range of sectors including education, environment and health.”

BML currently hosts a nationwide network of 38 branches scattered across 20 atolls, 84 Self-Service Banking Centres, 142 ATMs, 227 agents and a comprehensive range of Digital Banking services. With its commitment to expand banking services across the country, BML continues to support individuals, businesses and communities in all parts of the Maldives.