BML sees record performance, proposes highest-ever dividend

Bank of Maldives (BML) recorded its best-ever performance during 2023.

The country’s national bank revealed this via a press release issued on Thursday.

As such, BML revealed that a Profit After Tax (PAT) of MVR 2.07 billion was recorded in 2023.

BML’s Board of Directors has since recommended the highest-ever dividend payout of MVR 50 per share, to be approved at BML’s next Annual General Meeting (AGM).

BML’s CEO and Managing Director Karl Stumke revealed that this marks the first time the bank has crossed MVR two billion, due to which the board has proposed a total dividend payout of MVR 269 million which is the highest for our shareholders in the history of BML.

Further, he noted that as BML’s biggest shareholder, the government stands to benefit with MVR 136.6 million as dividend and a further MVR 628 million as tax for 2023.

Expressing gratitude to BML’s Board of Directors for their guidance and stewardship over the year, Stumke noted that the board has continued to but the bank’s customers first in their operations, with the additional responsibility of ensuring the stability of the financial sector of the island nation.

Stumke expressed sincere appreciation to his staff stationed across the Maldives, for their hard work and dedication.

The bank’s CEO and MD also expressed gratitude to shareholders for having faith in BML’s journey.