BML claims record MVR 2.5bn profit amid aggressive expansion drive
Over the same period, more than 30,000 new customers joined the bank, highlighting what it characterized as the accessibility and relevance of its services.
BML described 2025 as one defined by strong financial growth | BML | BML
Bank of Maldives (BML) has announced record financial results for the year ending 31 December 2025, describing the period as one defined by strong financial growth, expanded services, and continued emphasis on its role as the national bank of the Maldives.
The country’s national bank closed the year with its highest-ever Net Profit After Tax of MVR 2.5 billion, reflecting a 9.8 percent increase compared to the previous year. Total assets rose to MVR 55.8 million, while total deposits climbed to MVR 37.2 billion.
During the year, the bank disbursed MVR 10.0 billion in new loans and financing, marking the largest annual lending volume in its history and underscoring its support for individuals, small and medium enterprises, corporates and key sectors of the economy.
Over the same period, more than 30,000 new customers joined the bank, highlighting what it characterized as the accessibility and relevance of its services.
Chief Executive Officer and Managing Director Mohamed Shareef described the year as a pivotal period for the institution, stating that the bank sought to demonstrate that a national bank could achieve record financial performance while also delivering social impact. He pointed to the record profit and highest-ever annual lending as evidence of the bank’s business strength and its role in driving the Maldivian economy.
He also cited the expansion of the bank’s physical network alongside digital innovation efforts as part of its commitment to ensuring nationwide access to essential financial services, regardless of location.
Shareef expressed appreciation to the bank’s staff for their work over the year, acknowledged the Board of Directors for its leadership and guidance, and conveyed gratitude to shareholders and customers for their continued trust and confidence.
Among the year’s most significant milestones was the completion of a nationwide project to establish ATM services on every inhabited island of the Maldives. The initiative received both local and international recognition and earned the bank the Outstanding Achievement in Financial Inclusion award from Qorus, a global authority in financial services benchmarking.
At the same time, the bank advanced its digital transformation efforts by enabling customers to submit all applications, including account openings and loan requests, through Internet Banking and its Mobile App. It also introduced Swipe, a fully Maldivian-built, multicurrency digital wallet intended to support the long-term development of the country’s digital economy.
