The Bank of Maldives (BML) reports a net profit of MVR211 million in the final quarter of 2022. Its annual net profit reached MVR1.49 billion.
The bank reported a net profit of MVR367.5 million in Q3-2022.
BML’s gross income for the review quarter stood at MVR995 million whereas it stood at MVR1.0 billion in Q3-2022; indicating a slight decline. The bank reported an annual gross income of MVR3.89 billion; which is the unaudited total.
The operating income for Q4-2022 stood at MVR747 million and reached MVR3.07 billion annually. The operating profit of the bank reached MVR488.7 million in the review quarter, and MVR2.39 billion annually. BML reported an operating profit of MVR694.8 million in Q3-2022.
During the quarter, the bank appointed its new Chief Executive Officer Karl Stumke on 23rd October 2022. The bank also concluded its 12 high-impact monthly community initiatives during the quarter. BML launched the initiatives as part of its 40th-anniversary celebrations.
BML also signed as the official partner with the Maldives Surfing Association (MSA). The bank also donated 33 motorized wheelchairs in December to support people with mobility impairments.
Additionally, the bank enabled authenticator apps to generate One-Time Passwords (OTPs) for all internet and mobile banking transactions.