BML disburses record MVR 12.1 billion in new loans in first nine months of 2026
Bank of Maldives (BML) has disbursed MVR 12.1 billion in new loans during the first nine months of 2026, exceeding the total value of loans disbursed throughout 2025, according to its third-quarter financial report released on Thursday.
The bank said the record level of lending reflected its continued expansion of financing to key sectors of the Maldivian economy.
Net loans and advances reached MVR 32.9 billion as of 30 September 2026, compared to MVR 25.2 billion at the end of December 2025.
The expansion in lending was supported by growth in the bank’s deposit base, with customer deposits increasing by 14% from MVR 37.19 billion at the end of 2025 to MVR 42.36 billion at the end of September 2026.
BML said it remained strongly capitalised despite the increase in lending and investments. Its capital adequacy ratio stood at 38% at the end of September, more than three times the regulatory minimum of 12%.
The ratio declined from 48% at the end of December 2025, which the bank attributed to the deployment of capital into new lending and investments in line with its capital management strategy.
The bank’s loan-to-deposit ratio was 77.6%, remaining within its internal limit of 90%, while liquid assets represented 36.5% of customer deposits.
Credit quality indicators also improved during the period. The proportion of Stage 3 credit-impaired loans fell from 6% at the end of December 2025 to 4.8% at the end of September, with provision coverage maintained at 100%.
BML said it intended to further diversify its funding sources, including by seeking long-term foreign currency financing from international markets.
The bank said this would support its capacity to provide financing to the tourism industry, businesses serving the sector and the wider Maldivian economy.
BML, which identifies itself as the country’s primary banking partner for the tourism industry, said its financing strategy would be accompanied by continued capital and liquidity management.
