Bank of Maldives (BML) has reported a net profit after tax of USD13.7 million and an Operating Profit of USD31.7 million for the final quarter of 2022.
BML stated that the unaudited full year net profit after tax amounted to USD9.5 million with underlying earnings increasing year-on-year. Total Assets for the year grew by almost USD194 million with customer deposits growing by USD116 million. The bank recorded USD278 million in new loans to businesses and individuals in 2022, with continued improvement in the loan book quality. Capital and liquidity ratios remain well above regulatory requirements.
Chief Executive Officer (CEO) and Managing Director Karl Stumke said BML now look forward with renewed focus on delivering on its strategy in the year ahead following a
solid performance in the fourth quarter of the year. He said he is grateful for the loyal customers, the Board of Directors and the dedicated team.