Bank of Maldives opens seven new branches, expanding network to 55

Bank of Maldives (BML) opened seven new branches on Wednesday, bringing its total nationwide network to 55 branches across all 20 atolls, the bank said in a statement.

President Dr. Mohamed Muizzu formally inaugurated the branches at a ceremony held in Malé on the morning of July 15, 2026. Dhivehi-language outlet Dhauru reported the event took place at Nasandhura Hotel.

The new branches are located in HA. Hoarafushi, Sh. Kanditheemu, R. Alifushi, Lh. Hinnavaru, ADh. Maamigili, L. Maavah, and GA. Gemanafushi.

BML said 17 of its 55 branches have opened in the past two years, as part of what the bank described as sustained investment in nationwide access to financial services.

BML CEO and Managing Director Mohamed Shareef said the bank reinvests its growth to expand its reach and deepen its presence in the communities it serves. He said the bank's financial performance has allowed continued investment in its nationwide network, with the aim of bringing banking services closer to Maldivians and making financial services more accessible to individuals and businesses.

BML describes itself as the country's largest banking institution, operating 55 branches across all 20 atolls alongside 340 self-service banking ATMs, which it says cover every inhabited island. The bank also offers digital banking platforms.

The expansion continues a steady climb in BML's branch count over the past two years. Maldives Business Review has previously reported the network growing from around 38 branches in mid-2024 to 40 by July 2025, and 42 by late 2025, alongside parallel growth in self-service banking centres and ATMs under the bank's "Mulhi Raajje ah BML ATM" (Banking For The Whole Maldives) programme.

BML is majority government-owned and is regulated by the Maldives Monetary Authority (MMA).