This is most recent bank opened in Maldives and commenced operations on 26th September 2016, catering for Personal, SME and Corporate customers. CBM is a joint venture between the Commercial Bank of Ceylon Plc. (CBC) holding a majority stake of 55% and with the remaining stake held by the Maldivian company, Tree Top Investments Pvt. Ltd. (TTIL). This joint venture was formed with the hope of combining the local knowledge and experience of TTIL and the banking expertise of CBC to provide reliable, innovative and customer friendly services to customers.
CBM recognizes the challenges in the banking sector in Maldives due to the geographical dispersion and the limited access of banking services to all residents and businesses. Therefore, CBM envisages to implement technological solutions to bridge the gap and accessibility to banking services thereby supporting the growing needs of businesses and consumers in the country. At the end of 2021, the bank had assets of over MVR2.32 billion and loans at over MVR582 million.