Bank loans issued during the second quarter of the year increased by 5% compared to the previous year.
According to the quarterly bulletin report published by Maldives Monetary Authority (MMA) MVR 1.4 billion worth loans have been issued by the banks.
The report also shows an increment of 22% in the pre-tax profits in the banking sector, reaching over MVR 1.3 billion compared to the same period last year.
In addition to this non-performing loans (NPLs) also increased by 14%, reaching MVR 302 million.
A total of six banks including he banks are national bank Bank of Maldives, Bank of India, Bank of Ceylon, Habib Bank, Mauritius Commercial Bank, Maldives Islamic Bank, MCB and HSBC are currently operated in the Maldives banking sector
