Private-sector lending climbs 19% to MVR 47.7 billion

Private-sector lending rises 19% to MVR 47.7 billion in September

The story has strong figures, clear year-on-year growth and an easy sector comparison. A short data-led Reel could show the MVR 47.7 billion total followed by tourism, construction and personal lending as the three largest categories.

Mohamed Hilmy

08 November 2026, 21:59

Private-sector lending by financial institutions in the Maldives rose to MVR 47.7 billion in September, an increase of 18.9% compared with the same month last year, latest data from the Maldives Monetary Authority (MMA) shows.

Total loans and advances stood at MVR 47.69 billion at the end of September, up from MVR 40.12 billion in September 2025. Lending also increased from MVR 46.40 billion in August.

Tourism remained the largest recipient of private-sector financing, with outstanding loans of MVR 15.08 billion, accounting for 31.6% of total lending.

Construction followed with MVR 11.18 billion, representing 23.4% of the total, while personal loans reached MVR 9.61 billion.

Together, tourism, construction and personal lending accounted for around three-quarters of outstanding private-sector loans.

Loans to the commerce sector stood at MVR 3.90 billion, while real estate lending amounted to MVR 4.20 billion. Lending to agriculture remained the smallest category at MVR 20.1 million.

Private-sector lending has continued to expand during 2026, rising from MVR 41.97 billion in January to MVR 47.69 billion by September.

The MMA figures cover loans and advances to the private sector by commercial banks and other financial corporations.

Private-sector lending rises 19% to MVR 47.7 billion in September

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