Bank of Maldives delivers most successful year in their 43 years journey

Bank of Maldives has reported its strongest financial performance to date, announcing record results for the year ended 31 December 2025 as the national bank expanded lending, strengthened nationwide banking access and accelerated its digital transformation.

The bank posted net profit after tax of MVR 2.5 billion, an increase of 9.8 percent compared to the previous year. Total deposits rose to MVR 37.2 billion while total assets reached MVR 55.8 billion, reflecting continued balance sheet expansion and sustained credit demand across the economy.

During the year, Bank of Maldives disbursed MVR 10.0 billion in new loans and financing, marking the highest annual lending volume in its history. The financing supported individuals, small and medium enterprises, corporates and key economic sectors, reinforcing the institution’s role as the country’s primary domestic lender. More than 30,000 new customers joined the bank during the year, highlighting continued growth in formal financial participation.

Chief Executive Officer and Managing Director Mohamed Shareef described the year as a defining chapter for the bank, noting that record profitability alongside historic lending levels demonstrates the institution’s ability to deliver both financial performance and social impact. He said expansion of the physical banking network combined with digital innovation was aimed at ensuring equitable access to essential financial services across the Maldives.

A major milestone was the completion of ATM deployment across every inhabited island, a project widely viewed as a significant step in national financial inclusion. The initiative received international recognition, including the Outstanding Achievement in Financial Inclusion award from Qorus, an organisation that benchmarks innovation in financial services.

Alongside its physical expansion, the bank intensified digital service delivery. Customers can now submit applications for accounts, loans and other services fully through internet banking and the mobile application, reducing geographic barriers to banking. The introduction of Swipe, a locally developed multicurrency digital wallet, reflects the bank’s strategy to support the country’s evolving digital payments ecosystem.

The record results come as credit demand remains closely linked to tourism recovery, infrastructure investment and SME growth. As the dominant domestic lender, Bank of Maldives’ lending trajectory is often seen as an indicator of wider economic momentum and household confidence.

With nationwide banking infrastructure largely established and digital services expanding, the bank’s 2025 performance signals a maturing financial sector. For businesses and consumers, increased lending capacity and digital payment tools are expected to improve access to finance, support entrepreneurship and contribute to a more resilient and diversified Maldivian economy.