Bank of Maldives (BML) disbursed MVR 12.1 billion in loans during the first nine months of 2026, exceeding its total lending for the whole of last year.

The bank attributed the increase to lending to key economic sectors and the expansion of digital banking services.

BML recorded a net profit of MVR 1.93 billion during the period, up 26 per cent compared with the same period in 2025. Third-quarter net profit reached MVR 647.2 million, an increase of 36 per cent year-on-year.

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

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

The bank also processed more than 373,600 remittances, facilitating USD 2.86 billion in outward transfers. Monthly foreign currency sales averaged USD 80.2 million, up 31 per cent year-on-year.

BML reported a cost-to-income ratio of 28 per cent, reflecting efforts to reduce operating costs and improve efficiency.