Bank of Maldives achieved a record-breaking net profit of MVR 2.25 billion in 2024, the highest in its history, according to Chief Operating Officer and Managing Director Mohamed Shareef.

He highlighted the milestone while speaking at the Bank’s 42nd Annual General Meeting (AGM), held on Wednesday night at Barceló Nasandhura.

Shareef stated that last year’s net profit of MVR 2.25 billion marked an 8 per cent increase compared to 2023. He further noted that the Bank of Maldives’ total assets had surpassed MVR 48 billion, while customer deposits stood at MVR 32 billion, representing 58 per cent of all deposits held in banks nationwide. 

Shareef stated that these figures reflect the strong trust and confidence customers place in the Bank of Maldives.

Further updating on the Bank’s operations, Shareef noted that 99 per cent of the Bank of Maldives' financial transactions are now conducted through digital channels, with the total number of transactions exceeding 220 million and the transaction value surpassing MVR 540 billion.

Shareef stated that the Bank is actively working toward its goal of becoming the leading digital bank in the region, reflecting its continued investment in digital innovation and customer-centric services.

Shareef emphasised that the team at Bank of Maldives remains its most valuable asset, expressing pride in the loyalty and long-standing service of its employees.

During its Annual General Meeting, Bank of Maldives announced a dividend payout of MVR 55 per share from its 2024 net profit.