BML reports MVR260 mn Q1 profit

The Bank of Maldives recorded a net profit of MVR260 million (US$16.6 million) for this year’s first quarter.

It said its operating profit was up 11 percent compared to the same period last year.

“We are pleased with the positive start to the year and we will work hard to continue this positive momentum throughout the rest of the year,” said the bank’s boss Andrew Healy. “I would like to thank our staff across the country for their dedication and commitment during a very busy quarter where we were delighted to continue our Aharenge Bank program, the highlight being 28 different events in February.”

Although BML’s business value has increased, its net profit is similar to the first quarter of last year as is its dividend at MVR193, local media reported.

BML operates 34 branches across the country.