Tim Sawyer announces decision to step down as BML CEO after contract due


Photo: Nishan Ali | Mihaaru

The Chief Executive Officer of Bank of Maldives (BML) Mr. Tim Sawyer has announced possibility of stepping down from his position following contract due.

As per Mr. Sawyer, his three-year contract made with the bank is coming to a conclusion and added that he does not have any immediate decision of renewing his contract for another term.

Earlier, he had discussed his plans of stepping down with the board of directors of BML has well.

“I will be working for a month or two before stepping down,” said Mr. Sawyer.

“The past few years have been challenging, especially during the Covid-19 pandemic. However, we have overcome the obstacles and the bank is currently at its best position till date,” he commented further.

The national bank’s CEO also acknowledged the bank’s multitude of achievements over the past years, and especially through the global pandemic outbreak.

He extended his gratitude and praise to the bank’s employees and noted that it was an honor to have been a part of the largest bank in the Maldives.

BML had announced a profit after tax of MVR1.9 billion for 2021 and settled a total of MVR543 million in taxes. Moreover, the bank will be paying a dividend of MVR131 million to the Maldives government, its biggest shareholder.