Bank of Maldives (BML) recorded a significant rise in foreign exchange activity last year, with CEO and Managing Director Mohamed Shareef announcing a 70 percent increase in US Dollar sales.

According to the bank’s 2025 financial results, BML posted a net profit after tax of USD 162.14 million, reflecting a 9.87 percent increase compared to the previous year.

The performance highlights a strong year across multiple areas of the bank’s operations.

Shareef stated that the bank sold USD 36.64 million in foreign exchange to individuals and businesses.

He also noted that overseas transactions reached USD 33.98 million, covering card payments, ATM withdrawals, point-of-sale transactions, and online purchases.

This marked a substantial rise compared to previous years.

The bank also expanded access to US Dollars for telegraphic transfers, increasing allocation levels to 50 percent from just 5 percent previously.

Shareef said this move has benefited both customers and businesses, while strengthening the bank’s overall performance.

In terms of lending, BML issued USD 648.51 million in new loans to individuals and small and medium enterprises during the year.

This represents the highest volume of loans disbursed by the bank in a single year, underscoring its role in supporting economic growth.