In 2024, BML welcomed over 21,000 new customers, reflecting the trust and confidence placed in the Bank by individuals and businesses across the Maldives.
Corporate Maldives
Bank of Maldives (BML) has announced its highest dividend proposal of MVR 296 million, at MVR 55 per share, following a year of exceptional financial performance in 2024.
The bank's audited financials show an Operating Profit of MVR 2.85 billion and a Net Profit of MVR 2.24 billion, driven by robust growth across key business areas. The Bank remains well capitalized with a Capital Adequacy Ratio of 58 percent, well above regulatory requirements; and liquidity in both MVR and USD remain strong.
In 2024, BML welcomed over 21,000 new customers, reflecting the trust and confidence placed in the Bank by individuals and businesses across the Maldives. Additionally, the Bank provided over MVR 5 billion in new loans and financing, further strengthening its role as a key driver of economic development.
We are proud to deliver this strong performance in 2024, and this is a testament to the resilience of our strategy and the dedication of our team. The proposed highest-dividend payout underscores our commitment to rewarding our shareholders while maintaining a solid financial foundation.
The Bank’s performance was achieved despite the bank profit tax rate of 25 percent, highlighting its operational efficiency and ability to deliver strong returns in a demanding fiscal environment. With a solid foundation and a clear strategy, Bank of Maldives is well-positioned to drive sustainable growth, innovate its offerings, and continue supporting individuals and businesses across the Maldives.
