Rank 4

Bank of Ceylon (BOC)

BOC started its operations in Maldives on 7 May 1981 and is one of the oldest bank in the Maldives and this year marks the 40 years of operations. The bank currently employs more than 35 Maldivian nationals. To date Bank of Ceylon has expanded its overseas operations to London, Maldives (Malé and Hulhumale), Chennai and Seychelles, with five foreign counterparts under the Bank of Ceylon brand.

Since its establishment Bank of Ceylon, Maldives has been a partner in developing the economy of the Republic of Maldives over the last four decades. BOC actively contributed by funding the Hulhumalé Reclamation Project Phase II, which is one of the largest projects ever undertaken in Maldives to date.

BOC Maldives is at the third position in terms of market share, considering the total assets. With the advent of digital banking, BOC Maldives has accelerated its digital drive with products such as B-app, IPG, and Smart Passbook among others.