Bank of Maldives (BML) reports positive financial performance for the second quarter of 2022.
The bank observed good performance in all core business lines and improved assets quality, reflecting an operating profit of MVR592 million for the review quarter, up by 19% on the same period in 2021.
Capital liquidity ratios remain solid and well above regulatory requirements.
Notable achievements during the quarter include introduction of the digital wallet BML Pay on the Mobile Banking app enabling contactless payments and wallet-to-wallet transfer services.
Reinforcing the digital strategy, the national bank of the island nation announced its partnership with MasterCard and Maldives Transport and Contracting Company (MTCC) to introduce the first open-loop transit card in the Maldives for the public transport network; Raajje-Transport Link (RTL).
Other notable initiatives for the lead-up to its 40th anniversary include upgrading the Home for People with Special Needs (HPSN) in K. Guraidhoo, launch of the Kindly by BML; an online fundraising platform for NGOs and the most recent “BML Fehi Project” to plant 50,000 trees annually across the country.
Speaking about the bank’s performance for the review quarter, BML’s in-charge and Acting MD Ms. Aishath Noordeen comments, “The bank remains optimistic about overall performance, driven by solid business volumes across all key sectors.”
“We are in a solid position to deliver on our strategy which will see improved customer experience with continued investment in digitalization and operational excellence,” she adds.