Bank of Maldives Posts Record-Breaking Results for 2025, Driven by Strong Q4 Performance and Strategic Growth

Bank of Maldives has reported a landmark year for 2025, closing the fourth quarter with an Operating Profit of MVR 828.7 million and a Net Profit of MVR 837.5 million, representing a remarkable 76.2% increase quarter-on-quarter.

The bank's unaudited full-year results paint an equally impressive picture. Gross income surpassed MVR 5.5 billion, reflecting a 16.1% increase compared to 2024, while Profit Before Tax reached a record MVR 3.2 billion, up 10% year-on-year. Total assets exceeded MVR 55.7 billion, a 15% growth compared to the previous year, underscoring the bank's continued balance sheet strength. Throughout this period of expansion, BML maintained a healthy Cost-to-Income ratio of 27%, a testament to its disciplined financial management.

During the year, the bank disbursed MVR 10 billion in new loans to individuals and businesses, while capital and liquidity ratios remained strong and well above regulatory requirements.

Reflecting on the results, BML CEO and Managing Director Mohamed Shareef said, "We were pleased to close 2025 with strong fourth quarter results, highlighting the strength of our strategic focus and the continued commitment of our people. Growth across our core business lines, coupled with disciplined risk management, has enabled us to deliver solid financial results while maintaining a strong balance sheet. We remain committed to supporting individuals, businesses, and communities across the Maldives as we continue to drive sustainable growth."

Beyond the numbers, 2025 proved to be a defining year for Bank of Maldives, marked by significant strides in financial inclusion, digital innovation, and national development. The bank launched Green Resort Financing and Hiyavehi Financing at a preferential rate of 5% in partnership with the Ministry of Construction, Housing and Infrastructure, while also reducing equity requirements for home purchase loans to 5%. The year also saw the establishment of BML Affordable Home Leasing Pvt Ltd, further cementing the bank's role in addressing the nation's housing needs.

Nationwide access was expanded with the opening of the 40th branch in R. Dhuvaafaru and the completion of the "Mulhi Raajje ah BML ATM" project, achieving a BML presence on every inhabited island across the Maldives. The bank also opened its 42nd branch, further strengthening its footprint across all 20 atolls.

On the digital front, BML made significant advances with the introduction of online applications for all services, the launch of the Swipe digital wallet, Visa Platinum Debit Card, Visa Infinite Credit Card, and new Indian Rupee and Chinese Yuan accounts. Strategic partnerships with Visa, Amex, Alipay+, Weixin Pay, UnionPay, and Mastercard further strengthened the Maldives' digital payments ecosystem.

The year also saw the launch of the BML Student Card, the Masveriyaa Portal to support financing for fishermen, the ENV POS initiative for environmental protection and ocean conservation, and the Experience Maldives campaign with Amex. The acquisition of SDFC (now SME Digital) enhanced the bank's SME offerings, while merchant fees were reduced to 1% to ease the burden on businesses. BML also received prestigious recognition from Qorus and Mastercard for excellence in financial inclusion and digital transformation.

As the nation's leading financial institution, Bank of Maldives continues to operate an extensive nationwide network of 42 branches across all 20 atolls, 266 ATMs, Self-Service Banking ATM Centres on every inhabited island, and advanced digital banking platforms, remaining steadfast in its mission to serve every Maldivian.