Bank of Maldives operating profits up 65 percent

The Bank of Maldives (BML) has announced that operating profit in the second quarter of 2014 increased 65 percent from the previous quarter, reaching MVR353 million (US$23 million).

“The Bank continues to move in the right direction. We are steadily building a sustainable financial base to support our strategic pillars of financial inclusion, customer service and support for business,” CEO and Managing Director Andrew Healy was quoted as saying in a press release.

“Since announcing these strategic priorities at its AGM in May, the bank has made a number of positive changes including the introduction of free cash withdrawals at ATMs and free transfers from one branch to another,” the press release continued.

“It has also recommenced issuing Visa Debit cards for rufiyaa accounts. Furthermore, the bank has started a programme to bring banking services to all inhabited islands across the country.”

“As part of its strategy, Bank of Maldives is also heavily investing in state-of-the-art technology and went live with T24, one of the world’s most advanced Branch Banking Systems on last Sunday, 3rd August 2014.”