BML Issued MVR 10 Billion in New Credit Last Year, Marking Historic High

The Bank of Maldives issued MVR 10 billion in new loans and financing last year, the highest annual credit disbursement in the bank’s history, according to its annual report released today.

The new credit supported personal borrowing, Small and Medium Enterprises, corporate clients and key sectors of the economy. The scale of lending reflects sustained demand for financing across households and businesses, reinforcing the bank’s central role in funding economic activity nationwide.

Alongside record lending, BML reported a net profit of MVR 2.5 billion after tax for the year, representing a 9.8 percent increase compared to the preceding year. The growth was driven by substantial expansion in the bank’s balance sheet, with total assets rising to MVR 55.8 billion.

Customer growth also accelerated during the period. More than 30,000 new customers joined the bank over the past financial year, while customer deposits increased by 16 percent compared to 2024. The rise in deposits indicates stronger savings mobilisation and a stable funding base to sustain continued credit expansion.

The MVR 10 billion in new lending marks a significant milestone for the bank, reflecting increased financing needs across sectors including trade, services and small business development. For SMEs in particular, access to credit remains critical to scaling operations, managing cash flow and investing in productivity.

With assets nearing MVR 56 billion and profitability continuing to grow, BML’s performance signals strengthening financial intermediation within the domestic economy. Record lending and deposit growth highlight sustained confidence in the banking system and underscore its importance in supporting private sector expansion and broader economic resilience in the Maldives.