BML reports MVR 1.3 billion net profit for first half of 2026

Bank of Maldives (BML) recorded a net profit after tax of MVR 1.3 billion during the first six months of 2026, an increase of 21% compared with the same period last year.

The bank released its financial results for the second quarter on Thursday.

According to the financial statements, BML generated total revenue of MVR 3.2 billion during the first half of the year. This included MVR 1.6 billion in net interest income and MVR 830 million in fee and commission income.

The bank reported an operating cost-to-income ratio of 28%.

Operating profit for the first six months reached MVR 1.8 billion, while net profit after tax totalled MVR 1.3 billion.

For the second quarter alone, operating profit stood at MVR 887 million and net profit after tax reached MVR 647 million.

BML also reported growth in its balance sheet during the second quarter. Total assets stood at MVR 62.8 billion at the end of June.

Customer deposits increased to MVR 41.6 billion, while the bank’s gross loan portfolio reached MVR 30.5 billion.

During the first six months of the year, BML issued MVR 8 billion in new loans across a range of sectors.