The Minister of Finance and Planning, Moosa Zameer, has highlighted the strong financial performance of Bank of Maldives (BML) alongside its continued expansion of banking services, during the inauguration of the Bank’s new branch in Dh. Kudahuvadhoo today.

Speaking at the ceremony, the Minister noted that the opening of the new Kudahuvadhoo branch reflects the Bank’s broader efforts to enhance financial inclusion and improve access to banking services across the Maldives. He referred to the successful completion of the nationwide ATM rollout, which has resulted in ATMs being installed in all inhabited islands, and outlined further plans to strengthen the Bank’s physical and digital presence.

The Minister stated that 2026 will be a key year for the expansion of services, with approximately 70 US dollar ATMs scheduled to be installed nationwide and 12 new branches planned to open by the end of March. He expressed confidence that these initiatives would be completed as scheduled, citing the Bank’s track record of delivering projects within agreed timelines.

In addition to service expansion, the Minister highlighted Bank of Maldives’ financial results, noting that the Bank recorded an operating profit of MVR 828 million in the fourth quarter of 2025 and achieved a profit of MVR 3.2 billion before tax for the full year. As the Government is the majority shareholder of the Bank, he welcomed the continued strong performance, stating that the results reflect both sound financial management and sustained efforts to serve the public.

The newly built Kudahuvadhoo branch replaces the Bank’s previous facility on the island and is intended to better meet the growing needs of customers in Kudahuvadhoo and neighbouring islands. The branch will provide banking services to support local economic activity, including the fishing industry and the expanding guesthouse sector, and will operate in line with Islamic finance principles. The facility is also designed as a paperless branch, with services delivered digitally to improve efficiency and customer convenience.

The Minister expressed appreciation to Mohamed Shareef, the Board, management, and employees of Bank of Maldives for their contribution to the Bank’s performance and service delivery. He acknowledged the commitment of His Excellency President Dr Mohamed Muizzu to expanding access to comprehensive financial services for the Maldivian people.