Bank of Maldives (BML) recorded a net profit of MVR 1.93 billion for the nine months ended September 30, 2026, its financial results show.
The after-tax result was 26% higher than the MVR 1.53 billion recorded in the corresponding period of 2025. Third-quarter net profit reached MVR 647.2 million, up 36% year on year.
Interest income for the quarter rose to MVR 874.8 million from MVR 729.7 million a year earlier. Non-interest income also increased, reaching MVR 377.5 million compared with MVR 355.9 million.
BML attributed the performance to increased lending to key economic sectors, a broader deposit base and growth in digital transactions. The bank reported a cost-to-income ratio of 28% and a return on equity of 14%.
Chief Executive Officer and Managing Director Mohamed Shareef said 2026 was on course to become the bank’s strongest financial year. He described its capital and liquidity positions as strong, saying customer confidence was supporting continued growth in its balance sheet.
Looking ahead, BML said it planned to diversify its funding sources, including seeking long-term foreign-currency financing from international markets.
The bank said the move would strengthen its capacity to finance tourism, businesses serving that sector and the wider Maldivian economy. The plans form part of its approach to expanding access to funding while maintaining capital and liquidity.
BML expects the tourism season to bring increased foreign-currency inflows during the final quarter of 2026. It said it remained optimistic about its full-year performance.
The bank also reiterated its commitment to disciplined risk management and high governance standards, alongside maintaining strong capital and liquidity for customers, shareholders and the country.
BML said the results had been achieved despite a challenging economic environment. It cited the effects of conflict in the Middle East and shifting global geopolitics on the Maldivian economy, describing the performance as encouraging for its outlook.