BML’s lending reaches MVR 12.1 billion, surpassing full-year 2025 total

Bank of Maldives disbursed MVR 12.1 billion in new loans during the first nine months of 2026, surpassing its total loan disbursements for the whole of 2025 with three months of the year remaining.

The milestone came as the bank expanded lending to key sectors of the Maldivian economy, according to its third-quarter report.

Net loans and advances grew to MVR 32.9 billion at September 30, up from MVR 25.2 billion at the end of last year — an increase of approximately 31 percent.

The expansion was accompanied by growth in customer deposits, which reached MVR 42.36 billion, up 14 percent from MVR 37.19 billion at the end of 2025. Total assets increased to MVR 65.6 billion from MVR 55.8 billion.

BML said its growing and diversified deposit base provided a stable source of funding to support lending.

The bank maintained a capital adequacy ratio of 38 percent, more than three times the regulatory minimum of 12 percent. It said this provided substantial capacity to absorb shocks while continuing to finance economic activity.

Its loan-to-deposit ratio stood at 77.6 percent, within its internal limit of 90 percent, while liquid assets represented 36.5 percent of customer deposits. BML said it met all regulatory liquidity requirements throughout the year.

Loan quality improved alongside the growth in lending. The credit-impaired loan ratio fell to 4.8 percent from 6 percent at the end of 2025, with provision coverage of 100 percent.

Looking ahead, BML said it would seek long-term foreign currency funding from international markets to expand its capacity to finance tourism, businesses serving the sector and the wider Maldivian economy.