Bank of Maldives (BML) has secured a spot on Forbes magazine’s inaugural list of the World’s Best-Performing Banks.
Compiled in collaboration with market research firm Statista, the ranking is based on an extensive analysis of the financial performance and growth of banking institutions globally.
Bank of Maldives was ranked in Tier 6, a category designated for smaller banks with assets valued between $3 billion and $10 billion.
BML achieved the 39th position within this category. The comprehensive global list features a total of 500 banks from 89 countries.
Forbes utilised public financial data to compile this list. Sources included platforms such as S&P Capital IQ and the latest audited financial statements provided by the institutions.
The selection process evaluated banks across four key pillars: profitability (30%), growth and revenue quality (20%), capital and funding resilience (25%), and asset quality and efficiency (25%).
Specific metrics used by Forbes for the evaluation included Return on Average Assets (ROAA), cost-to-income ratio, and net interest margin. Additionally, the assessment considered customer deposit growth over three years, equity ratios, and loan-to-deposit ratios.
To be eligible for inclusion in the ranking, a bank must hold a minimum of $3 billion in total assets.
This international recognition comes as BML reports a net profit of MVR 1.9 billion for the first nine months of this year. The bank’s CEO and Managing Director, Mohamed Shareef, has said that this year is projected to be the most successful in the institution's history.
