Bank of Maldives (BML) has reported a net profit of MVR 2.1 billion for 2024, reflecting a 4 per cent increase from the previous year.

The bank’s total assets grew by MVR 3 billion, while loan disbursements to individuals and businesses reached MVR 5.2 billion, signalling strong financial growth.

In the fourth quarter of 2024, BML recorded an operating profit of MVR 685 million, with net profit rising to MVR 725 million, 47 per cent higher than in the previous quarter. The bank attributed this increase to the reversal of impairment provisions.

BML’s CEO and Managing Director, Mohamed Shareef, highlighted the bank’s strong financial performance and expressed gratitude to employees for their contributions. He reaffirmed BML’s commitment to driving positive change and supporting communities.

As part of its expansion plans, BML announced the "Mulhi Raajje ah BML ATM" project in the last quarter, aiming to install ATMs on all inhabited islands by the end of 2025. The bank also introduced the ‘Bank Fund’ initiative to support NGOs and sustainable development projects across the country.

With a nationwide network of branches, self-service banking centres, ATMs, and digital banking services, BML remains a key financial institution supporting businesses and individuals across the Maldives.