Bank of Maldives has reported a Net Profit After Tax of 212 million and an Operating Profit of MVR 489 million for the final quarter of 2022.
The unaudited full year Net Profit After Tax amounted to MVR 1.48 billion with underlying earnings increasing year-on-year. Total Assets for the year grew by almost MVR 3 billion with customer deposits growing by MVR 1.8 billion.
The Bank recorded MVR 4.3 billion in new loans to businesses and individuals in 2022, with continued improvement in the loan book quality.
Additionally, Capital and liquidity ratios remain well above regulatory requirements.
Commenting on the results, BML’s CEO and Managing Director, Karl Stumke said, that the bank now look forward with renewed focus on delivering their strategy in the year ahead, following a solid performance in the fourth quarter of the year.
Following a solid performance in the fourth quarter of the year, we now look forward with renewed focus on delivering on our strategy in the year ahead. I would like to thank our loyal customers, the Board of Directors and of course, our dedicated team for the great work over the past yearBML’s CEO and Managing Director, Karl Stumke
He went on to say that 2022 was a special year as the Bank celebrated its 40th anniversary.
The CEO noted the implementation of 12 high impact monthly community initiatives to benefit communities, customers and colleagues over the year, which saw the launch of initiatives in a wide range of sector including education, environment and health.
Bank of Maldives states that the bank is committed to supporting individuals, businesses and communities across Maldives.
As such, the bank currently has a nationwide network of 38 branches across all 20 atolls, 84 Self Service Banking Centers, 142 ATMs, 277 agents and a full suite of Digital Banking services,