BML posts Profit After Tax of MVR259mn in Q3-2020

Bank of Maldives posts a profit after tax of MVR259 million for the third quarter of 2020 – it reported on Wednesday, 28 October.

The bank reports that with anticipated higher provision charge, however the performance was below expectations and continues into the next quarter.

Moreover, this weaker performance, coming in light due to the ongoing Covid-19 pandemic, will be reflected on full year financials.

However, despite continued tight liquidity the bank remains at the forefront of supporting impacted sectors to combat “the financial and economic shocks facing businesses with new loans of over MVR2.2 billion.”

Furthermore, BML reports its liquidity and capital ratios remain strong and well above regulatory limits.