BML reports MVR 1.48 billion in net profit for 2022

30 Jan 2023 | 22:17
Bank of Maldives head office. Source: Bank of Maldives

Bank of Maldives (BML) reported a Net Profit of MVR 1.4 billion last year. 

The national bank announced on Monday its financial results for the final three months of 2022. The report states that BML made a net profit of MVR 212 million and an operational profit of MVR 489 million in the fourth quarter of 2022.

According to a press statement from BML, the company's total assets increased by over MVR 3 billion last year, while customer deposits increased by MVR 1.8 million.

The bank also recorded MVR 4.3 billion in new loans to individuals and businesses last year, as well as continuous progress in the load book quality. According to BML, the capital and liquidity ratios also continue to be very high.

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

 Said Karl Stumke 

He continued by saying that 2022 was a significant year because it marked the Bank's 40th anniversary.

The Bank of Maldives is dedicated to assisting people, businesses, and communities throughout the Maldives and has a statewide network of 38 branches spanning all 20 atolls, 84 Self Service Banking Centers, 142 ATMs, 277 agents, and a full suite of Digital Banking services.