BML reports operating profit of MVR 592 million for the 2nd quarter

Bank of Maldives has reported an operating profit of MVR 592 million for the second quarter of 2022.

Disclosing that the bank reported a positive financial performance for the second quarter of 2022, BML highlights that operating profit reported for the second quarter of this year is a 19 percent increase compared to the same period last year.

BML states that the bank showed good performance in all core business lines and improved assets quality during the second quarter.

Additionally, the bank notes that the capital and liquidity ratios remain solid and well above regulatory requirements during the period.

During the second quarter of 2022, BML 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.

Moreover, 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.

The bank's Acting MD, Aishath Noordeen notes that the Bank remains optimistic about overall performance, driven by solid business volumes across all key sectors. She stated that the bank is in a solid position to deliver on their strategy which will see improved customer experience with continued investment in digitalization and operational excellence.

BML has 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.

Bank of Maldives highlights that the bank is committed to supporting individuals, businesses and communities across Maldives.