Bank of Maldives (BML) has reported MVR 592 million in profit for its second quarter of 2022.

BML statistics revealed a 19% increase in profits compared to second quarter of 2021. BML reported good performance in all the core business lines and improved assets quality, while capital and liquidity ratios remained well above regulatory requirements.

BML introduced digital wallet, BML Pay, on its Mobile Banking application during the second quarter of 2022 to enable contactless payments and wallet-to-wallet transfer services. BML also announced a partnership with Mastercard and MTCC, to introduce the first open loop transit card for public transport network in the country.

BML in-charge of Banking and Acting MD, Aishath Noreen said BML remains optimistic about the overall performance and BML is driven by solid business volumes across all key sectors.

"We are in a solid position to deliver on our strategy which will see improved customer experience with continued investment in digitalization and operational excellence", she said.

BML has a nationwide network of 35 branches across 20 atolls, 81 Self Service Banking Centres, 139 ATMs, over 200 agents, a full suite of Digital Banking services.