Banking for a
Sustainable Future
Bank of Maldives delivered its strongest financial performance in history — record profits, transformative financial inclusion across every inhabited island, and accelerated digital innovation.
Download Annual ReportRecord performance across every key metric in our 43-year history.
The Bank delivered another year of excellent financial results, recording a profit after tax of MVR 2.5 billion, representing a 9.8% increase compared to 2024. Total assets increased to MVR 55.8 billion, while customer deposits grew to MVR 37.2 billion.
Key achievements that defined the year.
As the national bank, we have not only strengthened our role as a key driver of the Maldivian economy but have also delivered record sustainable financial performance, invested more than ever in our people, businesses, and communities, and continued to expand our services across the country.
"The ability to operate effectively with such significant responsibility as the national bank, benefits the nation in every aspect."
Ahmed Ali Habeeb · ChairpersonBroad-based growth underpinned by balance sheet strength and prudent risk management.
| Metric | 2025 | 2024 | Change |
|---|---|---|---|
| Operating Profit (MVR '000) | 3,094,473 | 2,847,583 | +8.7% |
| Net Profit After Tax (MVR '000) | 2,465,453 | 2,245,536 | +9.8% |
| Net Loans & Advances (MVR '000) | 25,204,565 | 20,208,810 | +24.7% |
| Customer Deposits (MVR '000) | 37,190,667 | 32,032,041 | +16.1% |
| Total Assets (MVR '000) | 55,823,790 | 48,439,022 | +15.2% |
| Shareholders' Fund (MVR '000) | 16,402,453 | 14,202,912 | +15.5% |
| Earnings Per Share (MVR) | 458 | 417 | +9.8% |
| Dividend Per Share (MVR)* | 60 | 55 | +9.1% |
| Capital Adequacy Ratio | 48.11% | 58.34% | Well capitalised |
| Stage 3 Loans Ratio | 5.96% | 6.90% | Improved |
| Gross NPA Ratio (MMA) | 1.50% | 1.40% | — |
* Proposed. Subject to shareholders' approval. Includes proposal to issue 2 bonus shares for each existing share as part of the final dividend.
We aspire to be the
digital bank of choice in the region.
Three strategic pillars, supported by an engaged and committed workforce and strong, robust risk management.
Digital First
100% digital penetration across customer segments. Full network coverage. Expansion of self-service banking in every island. Full merchant digital payment acceptance. End-to-end paperless processes across core banking.
Customer Service Excellence
Growing market share across all key business segments. Achieving 100% resort coverage. Consistent service quality across physical, digital, and hybrid channels. Becoming the biggest Islamic bank in the country.
Sustainability & Responsible Banking
Supporting financial inclusion through island-wide access. Enabling sustainable business growth via SME and Islamic banking. Maintaining prudent and robust risk management frameworks.
The Maldivian economy demonstrated resilience in 2025, with real GDP growth estimated at 5.4% according to the Ministry of Finance and Planning. Growth was driven by the strength of the tourism sector. The medium-term outlook is projected to exceed 4.5%.
Asset quality improved — the Stage 3 loan ratio declined from 6.9% to 5.96%. Gross NPA ratio stood at 1.5% with 100% provision coverage. Interest income grew 12.9%. Fee-based income accounts for 35.6% of total gross income. Cost-to-income ratio maintained at 25%.
Liquidity remained robust: LCR of 350% (MVR) and 131% (USD), both above Basel requirements. The Bank established two subsidiaries — SME Digital and BML Affordable Home Leasing — supporting economic development and the national housing scheme.
Landmark achievements that defined 2025.
ATMs on Every Inhabited Island
Completed the "Mulhi Raajje ah BML ATM" project. 105 new islands connected in nine months — 268 ATMs nationwide. Received "Outstanding Achievement in Financial Inclusion" from Qorus.
Swipe Digital Wallet
100% Maldivian-developed multicurrency digital wallet built to meet international regulations. Supports freelancers, online businesses, and provides tourists with convenient payment options.
Islamic Banking — 10 Years
Marked a decade of Islamic banking services. All 33 atoll branches rebranded under the "Islamic Finance First" policy as BML Islamic branches.
Global Payment Partnerships
Partnered with Alipay+, Weixin Pay, and UnionPay. Introduced Indian Rupee and Chinese Yuan accounts to support tourism and international trade.
Masveriyaa Portal
Dedicated financing portal for fishermen registered in the National Fishermen's Registry. Enables online applications for personal financing, credit cards, housing, and education.
SME Digital & Housing
Acquired SDFC, now operating as SME Digital — a Shari'ah compliant, digital-first subsidiary. Established BML Affordable Home Leasing for 3,260 housing units.
Annual Report and key documents.