The Bank of Maldives (BML) has reported a net profit of MVR 475 million for the third quarter of this year, reflecting strong financial performance and sustained growth across its operations.

According to the national bank, operating profit for the quarter reached MVR 791 million  a 10 percent increase compared to the same period last year. BML said it has disbursed MVR 6.5 billion in loans to individuals and businesses so far this year, underlining its continued role in driving economic activity across the Maldives.

As of the third quarter, the bank’s total assets stood at MVR 51.1 billion, while customer deposits rose to MVR 33.7 billion. BML noted that its capital and liquidity ratios remain comfortably above regulatory requirements, maintaining a strong and stable balance sheet.

BML CEO and Managing Director Mohamed Shareef said the results are a reflection of both financial strength and the bank’s wider contribution to national progress.

During the last quarter, BML also achieved a major operational milestone with the completion of its “BML ATMs for the Whole Country” project.

The initiative extended ATM services to 105 islands since February, achieving full nationwide coverage this month.

Additionally, BML finalized the acquisition of the SME Development Finance Corporation (SDFC) during the quarter.

The bank stated that SDFC will be transformed into a digital-first, Sharia-compliant subsidiary focused on delivering innovative financial solutions to micro, small, and medium enterprises (MSMEs) across the country.