Saturday, 31st July – Bank of Maldives reports a net profit of MVR299 million recorded for the second quarter of 2021.
Moreover, according to the national bank of Maldives their net profit for the review quarter observed 181% increase in comparison with the corresponding quarter of 2020. During the same period of the previous year, BML made a net profit of just MVR106 million.
According the bank’s latest financial revelations, BML generated a total revenue of MVR785 million, with a profit-before-tax of MVR409 million.
Furthermore, the bank showed visible signs of recovery with an operating profit of MVR496 million, which is a 38% improvement in comparison with the same period of 2020.
During the review quarter, the bank collected over MVR506 million as interest charges with another MVR244 million made as fees and commissions. Meanwhile, the bank had collected just MVR95 million in fees and charges during the second quarter of the previous year.
The bank’s recent statement had further detailed on various other developments made by the bank including the most recent “Aharenge Bank Community Fund” program, during the review quarter, where an additional 5 projects were selected for funding.