Bank of Maldives (BML) has posted a net profit of USD 35.8 million in the second quarter of 2023.
Due to solid performance in all core business lines, with improving loan quality, resulted in a 55% year-on-year increase in net profit (after tax).
The national bank reported a quarterly revenue of USD 68.7 million for the second quarter this year, and an operating profit of USD 43.97 million which is a 15% increase compared to the same quarter in 2022.
During the review quarter, BML introduced ‘Aaya’, as part of the bank’s commitment to enhance customer experience.
Additionally, as part of the bank’s ongoing efforts to enhance security and protect its customers from scams, BML introduced Two Factor Authentication (2FA) for internet and mobile banking logins and self-service “kill switch” to disable access to internet banking and cards in emergencies.
Speaking about the bank’s quarterly performance was its CEO Karl Stumke who said, “We are pleased with the positive first half results which gives us the financial platform to continue to invest in the communities we serve. We will work hard to continue the positive momentum throughout the rest of the year.”
In May, BML partnered with American Express to launch the year-long destination campaign ‘Experience Maldives’ offering unique, authentic experiences for AmEx card members.