Bank of Maldives Reports 24% Surge in Q2 Net Profit, Hits MVR 558 Million

Bank of Maldives (BML) has reported robust financial results for the second quarter of 2025, with significant year-on-year growth in both operating and net profits, driven by continued expansion, customer engagement, and strategic initiatives.

The nation’s leading bank recorded an operating profit of MVR 790 million for the quarter, a 13% increase compared to the same period last year. Net profit surged by 24% year-on-year, reaching MVR 558 million. Total assets stood at MVR 51 billion at the end of June 2025, while the Bank’s loan book grew to MVR 21.3 billion and customer deposits totaled MVR 33.6 billion. So far this year, BML has issued MVR 3 billion in new loans and financial support to individuals and businesses nationwide.

Commenting on the Bank’s performance, CEO and Managing Director Mohamed Shareef attributed the strong results to the efforts of the team and the success of its strategic roadmap. “We are delighted to report a strong financial performance for the quarter, which reflects the dedication of our team and the effectiveness of our strategic direction. Our commitment to expanding reach, fostering sustainable practices and enhancing customer convenience remains paramount, driving both our profitability and our positive impact on the nation,” Shareef said.

During the quarter, BML held its Annual General Meeting, where shareholders approved a record dividend payout of MVR 296 million , equivalent to MVR 55 per share — underscoring the Bank’s continued commitment to delivering value to shareholders.

Progress on the Bank’s strategic projects was also notable this quarter. The “Mulhi Raajje ah BML ATM” initiative saw new ATMs installed across Noonu, Meemu, Shaviyani, and Kaafu Atoll Huraa, as part of its goal to expand physical banking access to all inhabited islands. Another milestone was the launch of the ENV POS, the first environmental contribution initiative of its kind in the local banking sector. Under this program, a portion of revenue from all POS terminal transactions will go towards funding environmental projects across the Maldives — at no added cost to merchants or customers.

BML continues to maintain capital and liquidity ratios well above regulatory requirements. With a network spanning 40 branches across all 20 atolls, 133 Self-Service Banking Centres, 188 ATMs, Agent Banking services, and comprehensive digital banking solutions, the Bank remains firmly positioned as the financial backbone of the country.

As it moves into the second half of the year, Bank of Maldives has reaffirmed its commitment to strengthening its support for individuals, businesses, and communities throughout the nation.