Bank of Maldives (BML) has reported an Operating Profit of USD39 million for the second quarter of 2022, up 19% from the same period last year.
BML stated that it is seeing a positive financial performance in all core business lines and improved assets quality, while capital and liquidity ratios remain solid and well above regulatory requirements.
BML stated it introduced its digital wallet BML Pay on the Mobile Banking app to enable contactless payments and wallet-to-wallet transfer services during the second quarter. The bank also announced its partnership with Mastercard and Maldives Transport and Contracting Company (MTCC) to introduce the country’s first open loop transit card for the public transport network, reinforcing its digital strategy.
Furthermore, BML stated that it continued its monthly initiatives in the lead-up to its 40th anniversary with support to upgrade the Home for People with Special Needs (HPSN) in Guraidhoo, Kaafu Atoll, the launch of Kindly by BML, an online fundraising platform for non-governmental organisations (NGOs) and the BML Fehi Project to plant 50,000 trees annually across the country.
Acting Managing Director Aishath Noordeen said the bank remains optimistic about overall performance, driven by solid business volumes across all key sectors and that it is in a solid position to deliver on its strategy which will see improved customer experience with continued investment in digitalisation and operational excellence.