Banks in the Maldives posted a combined net profit of MVR 3.8 billion in 2025, reflecting a strong performance across the banking sector.

Figures released by the Maldives Monetary Authority (MMA) show that banks generated a pre-tax income of MVR 5.2 billion during the year, after deducting all operating and financing costs. Of this amount, MVR 1.3 billion was paid to the State in income tax.

From January to December 2025, banks earned MVR 6.5 billion in interest income and MVR 3.1 billion in non-interest income. After deducting MVR 1.4 billion in interest-related expenses, total operating income stood at MVR 8.2 billion.

During the year, banks spent MVR 924.3 million on personnel costs and MVR 2.1 billion on other operating expenses.

Income tax payments by banks reached MVR 1.37 billion in 2025, marking a 14.1 percent increase compared to the previous year. Net profit for the sector rose by 15.3 percent year-on-year.

Overall, banks recorded increases in income, profitability and tax contributions to the State in 2025. The year was also a strong one for the national bank, Bank of Maldives, reflecting growth across the banking industry.