Bank of Maldives has reported its financial results for the second quarter of 2021. Driven by solid business volumes across all key sectors, the quarter saw encouraging signs of recovery with Operating Profit at MVR 496 million, up 38% on the same period last year. Profit After Tax of MVR 299 million was reported for the quarter. Capital and liquidity ratios remain solid and well above regulatory requirements.
As part of its network expansion and support to provide banking services to communities, BML introduced Self Service Banking ATM Centres in 5 islands: H.Dh. Makunudhoo, Sh. Maaungoodhoo, Sh. Komandoo, K. Himmafushi and K. Dhiffushi. The Bank also expanded its Agent Banking service with additional 12 Agents providing cash deposit and payment services. Today, there are over 200 agents providing cash withdrawal services and over 60 agents providing cash deposits as well as payment services for free.
During the quarter, the Bank announced positive changes to its BML Islamic Personal Financing eligibility criteria to offer more flexibility for customers. In support of the government’s Economic Stimulus package, the Bank of Maldives partnered with the Ministry of Finance to support the implementation of the Covid-19 Economic Stimulus Loan targeted to businesses financially affected by the pandemic.
Under the ‘Aharenge Bank Community Fund’ program, the Bank selected an additional 5 projects for the quarter. This is the third year running for the project, which has now seen over 50 projects awarded. As part of its work with the community, the Bank also donated MVR 100,000 to Advocating the Rights of Children to support 150 children and continued its work on fraud awareness through its “Samaaluvey” campaign.
As part of its network expansion and support to provide banking services to communities, BML introduced Self Service Banking ATM Centres in 5 islands: H.Dh. Makunudhoo, Sh. Maaungoodhoo, Sh. Komandoo, K. Himmafushi and K. Dhiffushi. The Bank also expanded its Agent Banking service with additional 12 Agents providing cash deposit and payment services. Today, there are over 200 agents providing cash withdrawal services and over 60 agents providing cash deposits as well as payment services for free.
During the quarter, the Bank announced positive changes to its BML Islamic Personal Financing eligibility criteria to offer more flexibility for customers. In support of the government’s Economic Stimulus package, the Bank of Maldives partnered with the Ministry of Finance to support the implementation of the Covid-19 Economic Stimulus Loan targeted to businesses financially affected by the pandemic.
Under the ‘Aharenge Bank Community Fund’ program, the Bank selected an additional 5 projects for the quarter. This is the third year running for the project, which has now seen over 50 projects awarded. As part of its work with the community, the Bank also donated MVR 100,000 to Advocating the Rights of Children to support 150 children and continued its work on fraud awareness through its “Samaaluvey” campaign.
