Business

BML Has Positive First Quarter with Strong Financial Results and Increased Investment Nationwide

Bank of Maldives has made a positive start to the year with a strong first quarter in terms of both financial results and community investment.

Earlier this month, BML reported a record Profit After Tax of MVR 1.02 billion for 2016. The positive momentum has continued and today the Bank reported a Profit After Tax of MVR 260 million for the first quarter of 2017, representing a 23% increase on the same period last year. Business volumes were healthy across all key sectors and loan book quality was robust. Capital and liquidity ratios finished the quarter well in excess of regulatory requirements.

The first quarter saw BML continue its investment program with the addition of 3 new branches and 7 new Self Service Banking Centres. Support was also extended to 8 different community organizations through donations and collaboration projects. The Bank has committed to invest MVR 300 million in at least 22 different islands this year, creating 150 new jobs in the process.

CEO and Managing Director, Andrew Healy, commented, “We are pleased with the positive start to the year. Our staff has shown terrific commitment during a very busy quarter, not least in February when we held 28 events in 28 days to mark the launch of ‘Aharenge Bank’, a campaign that is designed to demonstrate our commitment to, and bond with, the communities we serve. We will work hard to continue this positive momentum throughout the rest of the year”.

Full details are available from the link below:

Source URL: Corporate Maldives

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