Bank of Maldives CEO and Managing Director Mohamed Shareef confirmed that BML has submitted an application to the Central Bank of Sri Lanka for a license to open a branch in Sri Lanka. The bank reported 2024 net profit of MVR 2.5 billion, up 9.8 percent year-on-year, with total assets of MVR 55.8 billion.
One outlet so far Only The Standard has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
Capital requirements in foreign jurisdictions are substantial. Although a representative office is an option, we believe establishing a full branch in Sri Lanka is achievable, and we have proceeded accordingly
Nothing to compare yet. If another monitored source reports it, its headline appears beside this one.
While BML's current capital base stands at MVR 16 billion, Shareef emphasized the need for further strengthening to meet international standards.
Word for word from the report in The Standard. Open the report
The bank currently operates 42 branches and 179 self-service banking centres across 18 atolls
Word for word from the report in The Standard. Open the report
Earlier reports gave 42 branches 27 Oct, 21:22 The Standard
The bank currently operates 42 branches and 179 self-service banking centres across 18 atolls
Word for word from the report in The Standard. Open the report
Earlier reports gave 200 centres 27 Oct, 21:22 The Standard194 centres 21 Oct, 14:02 The Standard
The bank currently operates 42 branches and 179 self-service banking centres across 18 atolls
Word for word from the report in The Standard. Open the report
Earlier reports gave 20 atolls 31 Jan, 14:08 The Standard20 atolls 27 Oct, 21:22 The Standard
the bank delivered a strong performance in 2024, posting a net profit of MVR 2.5 billion, a 9.8 percent increase year-on-year.
Word for word from the report in The Standard. Open the report
Earlier reports gave MVR 475 million 2 Nov, 13:11 The StandardMVR 163 million 30 Jul, 20:25 The Standard
posting a net profit of MVR 2.5 billion, a 9.8 percent increase year-on-year.
Word for word from the report in The Standard. Open the report
Earlier reports gave 8% 29 May, 11:28 The Standard
Total assets rose to MVR 55.8 billion, reflecting balance sheet expansion driven by increased lending and deposit growth.
Word for word from the report in The Standard. Open the report
Earlier reports gave MVR 51.5 billion 2 Nov, 13:11 The StandardMVR 34.3 billion 3 Jun, 16:55 The Standard
During the year, BML disbursed MVR 10 billion in loans and financing, the highest annual figure in its history
Word for word from the report in The Standard. Open the report
The bank also added more than 30,000 new customers
Word for word from the report in The Standard. Open the report
customer deposits grew by 16 percent compared to 2023.
Word for word from the report in The Standard. Open the report
the bank has formally applied for a license to establish a branch in Sri Lanka. Speaking on the “Raajje Miadhu” programme aired by Public Service Media, Shareef revealed that the application has been submitted to the Central Bank of Sri Lanka
Word for word from the report in The Standard. Open the report
Its nationwide footprint was further strengthened last year with ATMs installed on every inhabited island.
Word for word from the report in The Standard. Open the report