The Bank of Maldives (BML) has announced an unprecedented share profit distribution following its robust financial results for 2024.

In its latest financial statement, the bank disclosed its proposal to distribute a total of MVR 296 million as share profit, amounting to MVR 55 per share, subject to approval at the forthcoming Annual General Meeting. This represents the highest shareholder return in the institution’s history.

CEO and Managing Director Mohamed Shareef stated that this record distribution highlights the bank’s commitment to maintaining a solid financial foundation while maximising value for its shareholders.

The bank reported a net profit of MVR 2.85 billion, with a net operating profit of MVR 2.24 billion. Additionally, its capital position remained strong, surpassing regulatory requirements, with a capital adequacy ratio of 58 per cent.

BML also emphasised its expanding customer base, having welcomed 21,000 new customers over the past year. In alignment with its broader economic role, the bank provided more than MVR 5 billion in loans and financing in 2024 to support both individual clients and corporate entities.

Shareef attributed the bank’s success to the dedication and diligence of its governance and employees, recognising their contributions to achieving these strong financial results.