Bank of Maldives (BML) has approved a record total dividend payout of MVR 269 million at MVR 50 per share at the bank’s Annual General Meeting held Tuesday night.
The government, as the biggest shareholder, stands to benefit with MVR 136.6 million as dividends and a further MVR 628 million as tax for the year 2023.
Speaking at the Annual General Meeting held at Hotel Jen in Male', BML’s CEO and Managing Director Karl Stumke said the record total dividend payout was achieved because of the bank's performance in 2023.
He thanked customers for their continued loyalty and reiterated his commitment to continuously improving customer experience and making banking with BML as seamless and convenient as possible.
“We will continue to uphold the highest standards of governance and customer centricity, with a focus on digitalization while striving to create a more sustainable and inclusive future for all. Together, we will continue to build a stronger, more prosperous future for Bank of Maldives and the nation we serve," he stated.
Hu further thanked BML's Board of Directors for their guidance and stewardship over the year and said the bank will remain steadfast in the vision to be the bank of choice in the Maldives.
BML posted a profit of MVR 2.07 billion last year. It is the highest net profit in the bank's history. Currently, BML customers account for 55 percent of the banking sector in Maldives making it the largest bank in Maldives.
