BML reports Operating Profit of MVR 592 million in 2QFY2022

BML Self-service ATM | Photo: BML

Malé, Maldives – Bank of Maldives on Sunday reported an Operating Profit of MVR 592 in the second quarter of the year 2022.

With good performance in all core business lines and improved assets quality, an Operating Profit of MVR 592 million was reported for the quarter, up 19% from the same period last year. Capital and liquidity ratios remain solid and well above regulatory requirements.

In-charge of the Bank and Acting MD, Aishath Noordeen commented, “The Bank remains optimistic about overall performance, driven by solid business volumes across all key sectors. We are in a solid position to deliver on our strategy which will see improved customer experience with continued investment in digitalization and operational excellence.”

Bank of Maldives is equipped with a nationwide network of 35 branches across all 20 atolls, 81 Self Service Banking Centres, 139 ATMs, over 200 agents and a full suite of Digital Banking services.

During the quarter, the Bank introduced its digital wallet BML Pay on the Mobile Banking app to enable contactless payments and wallet-to-wallet transfer services. Reinforcing its digital strategy, the Bank announced its partnership with Mastercard and MTCC to introduce the country’s first open loop transit card for the public transport network.

The Bank continued its monthly initiatives in the lead-up to its 40th anniversary with support to upgrade the Home for People with Special Needs (HPSN) in K. Guraidhoo, launch of Kindly by BML, an online fundraising platform for NGOs and the ‘BML Fehi Project’ to plant 50,000 trees annually across the country.