Maldives Islamic Bank (MIB) recorded a net profit of MVR 113.5 million in the first quarter of this year, according to the bank’s latest financial statistics.
The bank reported that this figure represents an increase of MVR 18.12 million compared to the final quarter of last year, marking an 11.11 percent growth in profitability.
MIB’s total asset value rose to MVR 18.50 billion by the end of the first quarter, up from MVR 16.65 billion in the final quarter of last year. This is a growth of MVR 1.85 billion in assets.
"Looking at MIB’s statistics for the first quarter of 2026, the bank achieved an operating profit of MVR 163 million, which is an increase of MVR 47 million compared to the previous quarter. Total deposits reached MVR 15.40 billion during this period, reflecting a growth of MVR 1.76 billion or 12.89 percent compared to the last quarter of the previous year," the bank stated.
The bank noted that the consistent daily increase in customer deposits is a testament to the growing public trust and confidence in the institution. MIB further highlighted that it achieved a growth of over MVR 5 billion between the first quarter of last year and the first quarter of this year.
MIB reiterated its commitment to providing high-quality services that earn customer trust. The bank is recognized for its technology-driven approach, offering a wide range of digital services, including the ability to open accounts online.
