Chief Executive Officer and Managing Director of Bank of Maldives, Mohamed Shareef, has stated that the bank’s capital adequacy stands at four times the level required by law.

Speaking at a press conference today, CEO Shareef said the bank has maintained strong financial performance into the new year following record results in 2025. He noted that operating profit reached MVR 879 million in the first quarter, compared to MVR 698 million in the same period last year, while net profit rose to MVR 631 million, marking a 27 per cent increase year-on-year. Total revenue for the quarter stood at MVR 1.24 billion.

He added that the bank’s total assets exceeded MVR 60 billion for the first time, increasing by approximately MVR 4.8 billion compared to the final quarter of 2025, reflecting continued balance sheet growth.

Shareef attributed the performance to strong governance and financial management, adding that the bank aims to sustain its growth trajectory in 2026 after recording its most successful year in its 43-year history in 2025.