Bank of Maldives (BML) made MVR 724 million in profits during the first six months of 2019, before deduction of taxes.
According to the statement by BML, it is a 5% increase compared to the MVR 499 million made during the first half of the previous year and is higher than what they had estimated.
BML further explained that even though their expenses increased they managed to increase their profits by increasing the number of loans issued and through their other services. In addition to this, their capital was higher than the standard required by law.
During the first six months, BML has initiated 50 projects in the field of education, sports, environmental conservation as well as in collaboration with nonprofit organizations. They invested a total of MVR 300 million in the programs
