Bank of Maldives (BML) CEO Mohamed Shareef has said the bank’s record profits last year were the result of business growth rather than increased interest rates or fees.
Speaking to PSM yesterday, Shareef highlighted that BML disbursed over MVR 10 billion in new loans in 2025, the highest in a single year in the bank’s 43 year history.
“With that, our net loans and advances stood at MVR 25.2 billion, a 25 percent increase over the previous year,” he said.
Shareef also noted improvements in the bank’s financial health, including a one percent reduction in the default rate and a capital adequacy ratio of 48.1 percent, four times above the legal requirement.
Last year, BML attracted 30,000 new customers, with total deposits rising 16 percent to MVR 37.2 billion, reflecting growing trust in the bank.
After tax, BML reported a net profit of MVR 2.5 billion, a 10 percent increase from the previous year.
“We have proved that the national bank can deliver positive change across the country socially, along with achieving financial excellence,” Shareef said.
“We are not running a bank that makes only financial gains. We are building a bank for all, for today and for future generations.”
