Bank of Maldives introduces transactions in Emirati Dirham and Chinese Yuan
At the Bank of Maldives’ Annual General Meeting, held tonight, CEO and Managing Director Karl Stumke highlighted a significant advancement in the bank's services.
BML has now enabled transactions in both the Emirati Dirham (AED) and the Chinese Yuan (Renminbi), catering to the evolving needs of its customers.
Karl Stumke expressed pride in the bank's numerous accomplishments over the past year, including substantial investments in customer service, infrastructure, and digital solutions, alongside a steadfast commitment to sustainability and community support.
In 2023, we achieved our highest-ever net profit of MVR 2.07 billion
Stumke announced
He attributed this success to effective liquidity management, increased investments in Treasury Bills, and a growing loan portfolio.
The bank's customer deposits grew by MVR 1.6 billion, securing BML's position as the leading bank in the Maldives with over 55% of the market share, reflecting the strong trust of its customers.
Expressing gratitude to customers for their loyalty,
I extend my deepest gratitude for your unwavering trust. Your support is the cornerstone of our success, and we are truly honored to have you as part of the Bank’s successful journey. We are committed to continuously improving your experience with us and making banking as seamless and convenient as possible
Stumke stated
Addressing the bank's recent advancements, Stumke mentioned the new system configuration that facilitates transactions in both AED and Renminbi.
We are now able to provide Renminbi accounts to our customers who wish to receive settlements and manage future payment obligations in this currency,
he explained.
Looking towards the future, Stumke reaffirmed the bank’s vision to remain the bank of choice in the Maldives.
We will continue to uphold the highest standards of governance and customer centricity, with a focus on digitalization. Our aim is to create a more sustainable and inclusive future for all. Together, we will continue to build a stronger, more prosperous future for Bank of Maldives and the nation we serve
he concluded.
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