Bank of Maldives Reports Strong Q4 Results, Records Highest-Ever Performance in 2025

Bank of Maldives (BML) has reported strong financial results for the fourth quarter of 2025, closing the year with its highest-ever annual performance.

According to the bank’s unaudited financial results, operating profit for the fourth quarter stood at MVR 828.7 million, while net profit reached MVR 837.5 million. This represents a 76.2 per cent increase compared to the previous quarter.

For the full year 2025, BML recorded gross income exceeding MVR 5.5 billion, marking a 16.1 per cent increase compared to 2024. Profit before tax reached a record MVR 3.2 billion, reflecting a 10 per cent year-on-year growth.

The bank’s total assets rose to over MVR 55.7 billion, an increase of 15 per cent from the previous year, demonstrating continued balance sheet strength. BML also maintained a healthy cost-to-income ratio of 27 per cent.

During the year, the bank disbursed MVR 10 billion in new loans to individuals and businesses, supporting economic activity across the country. Capital and liquidity ratios remained strong and well above regulatory requirements.

BML’s Chief Executive Officer and Managing Director, Mohamed Shareef, said the strong performance reflected disciplined risk management and growth across core business lines.

He noted that the bank remains committed to supporting individuals, businesses, and communities while driving sustainable growth.

The year 2025 marked a period of significant expansion and innovation for the bank. BML launched several new financing and housing initiatives, including Green Resort Financing, Hiyavehi Financing at a preferential rate of five per cent in partnership with the Ministry of Construction, Housing and Infrastructure, and reduced equity requirements for home purchase loans to five per cent. The bank also established BML Affordable Home Leasing Pvt Ltd.

Nationwide access was expanded with the opening of the bank’s 40th branch in R. Dhuvaafaru and the completion of the “Mulhi Raajje ah BML ATM” project, ensuring a BML presence in all inhabited islands.

Digital and payment services were strengthened through the introduction of online applications for all services, the Swipe digital wallet, Visa Platinum Debit Card, Visa Infinite Credit Card, and new Indian Rupee and Chinese Yuan accounts.

BML also formed strategic partnerships with international payment networks including Visa, American Express, Alipay+, Weixin Pay, UnionPay, and Mastercard, further enhancing the country’s digital payments ecosystem.

Other initiatives introduced in 2025 included the BML Student Card, Masveriyaa Portal for fishermen financing, ENV POS programme for environmental protection, the “Experience Maldives” campaign with American Express, and the acquisition of SME Development Finance Corporation, now operating as SME Digital.

The bank also reduced merchant fees to one per cent to support businesses and received international recognition from Qorus and Mastercard for its work in financial inclusion and digital transformation.

As the country’s leading financial institution, Bank of Maldives currently operates 42 branches across all 20 atolls, 267 ATMs, self-service banking centres on every inhabited island, and advanced digital banking platforms.

The bank said it remains committed to strengthening financial inclusion and expanding access to banking services across the Maldives.