For the third quarter of this year, Bank of Maldives (BML) has announced 259 million as a net profit after deducting tax pay.
As per the statement released posting its financial performance, BML has stated that a higher provision charge is anticipated, however, this performance is not expected to continue into the next quarter or be reflected in the full-year financials.
BML has also stated that despite the tight liquidity due to Covid-19, the Bank has continued to support impacted sectors to combat the financial and economic shocks facing businesses with new loans of over MVR 2.2 billion. The Bank’s liquidity and capital ratios remain very strong and well above regulatory limits.
As per the statement, the third quarter of the BML saw several measures extended to continue mitigating the risks of Covid-19. The loan and financing moratorium for personal and business customers was extended by a further three months to provide support in easing the liquidity stress of impacted customers. The Bank also continues to administer funds for the government’s Covid-19 Recovery Scheme for businesses.
As part of the Bank’s continuous support to provide banking services to communities across the country, a new Self Service Banking ATM was opened in A.Dh Maamigili, ATMs in H.a Dhidhdhoo, and S. Hulhumeedhoo branches were upgraded to modern Self Service ATMs, and the Cash Agent withdrawal services in the atolls expanded with 40 agents, providing cash deposit and payment services.
BML also continued its investment in the community, supporting initiatives in the areas of education, sports, environment, and community development.
BML has generated total revenue of 646 million in the third quarter of this year, while 551 million in the second quarter of this year and 106 million in the first quarter of this year.
As per the statement released posting its financial performance, BML has stated that a higher provision charge is anticipated, however, this performance is not expected to continue into the next quarter or be reflected in the full-year financials.
BML has also stated that despite the tight liquidity due to Covid-19, the Bank has continued to support impacted sectors to combat the financial and economic shocks facing businesses with new loans of over MVR 2.2 billion. The Bank’s liquidity and capital ratios remain very strong and well above regulatory limits.
As per the statement, the third quarter of the BML saw several measures extended to continue mitigating the risks of Covid-19. The loan and financing moratorium for personal and business customers was extended by a further three months to provide support in easing the liquidity stress of impacted customers. The Bank also continues to administer funds for the government’s Covid-19 Recovery Scheme for businesses.
As part of the Bank’s continuous support to provide banking services to communities across the country, a new Self Service Banking ATM was opened in A.Dh Maamigili, ATMs in H.a Dhidhdhoo, and S. Hulhumeedhoo branches were upgraded to modern Self Service ATMs, and the Cash Agent withdrawal services in the atolls expanded with 40 agents, providing cash deposit and payment services.
BML also continued its investment in the community, supporting initiatives in the areas of education, sports, environment, and community development.
BML has generated total revenue of 646 million in the third quarter of this year, while 551 million in the second quarter of this year and 106 million in the first quarter of this year.
