Bank of Maldives (BML) has maintained a cost-to-income ratio of 28 per cent, placing it among the most efficient banks in the region, as it strengthens operations and expands digital banking services.

BML recorded a net profit of MVR 1.93 billion in the first nine months of 2026, a 26 per cent increase compared with the same period last year. Third-quarter net profit reached MVR 647.2 million, up 36 per cent year-on-year.

The bank attributed its performance to cost management, increased lending to key economic sectors and the expansion of digital banking services.

BML’s capital adequacy ratio stood at 38 per cent, well above the regulatory minimum of 12 per cent. Deposits increased by 14 per cent to MVR 42.36 billion.

The bank also disbursed a record MVR 12.1 billion in new loans during the first nine months of the year, exceeding its total lending for the whole of 2025.

BML Chief Executive Officer and Managing Director Mohamed Shareef said the bank was on track to achieve its most successful year, supported by strong capital and liquidity positions and growing customer confidence.

During the period, the bank processed more than 373,600 remittances, facilitating USD 2.86 billion in outward transfers. Monthly foreign currency sales averaged USD 80.2 million, an increase of 31 per cent compared with the same period last year.