Bank of Maldives (BML) has recorded MVR 504 million in profit after tax for the first quarter of 2022.

BML's operating profit in Q1 of 2023 amounted to MVR 1.1 billion - an 8.9% increase compared to first quarter in 2023.

BML attributed profit to the strong performance in all business lines. BML's assets are valued at MVR 43 billion while customer deposits stood at MMVR 30 billion.

BML's capital adequacy ratios and liquidity position remained solid and above regulatory requirements as per the quarterly report. As such, BML loaned MVR 1 billion to customers in Q1 of 2023.

BML also gained over 25,000 customers in the first quarter of the year. BML also recorded over 232,000 mobile banking and internet banking transactions in the first quarter.