The Bank of Maldives (BML) has announced its highest dividend proposal of MVR 296 million, at MVR 55 per share.

The national bank's audited financials reveal an operating profit of MVR 2.85 billion and a net profit of MVR 2.24 billion.

"The bank remains well capitalized with a Capital Adequacy Ratio of 58 percent, well above regulatory requirements; and liquidity in both MVR and USD remain strong," BML said in a statement.

In 2024, BML welcomed over 21,000 new customers and provided over MVR 5 billion in new loans and financing.

“We are proud to deliver this strong performance in 2024, and this is testament to the resilience of our strategy and the dedication of our team. The proposed highest-dividend payout underscores our commitment to rewarding our shareholders while maintaining a solid financial foundation," BML CEO and Managing Director Mohamed Shareef said.

BML said the bank’s performance was achieved despite the bank profit tax rate of 25 percent, highlighting its operational efficiency and ability to deliver strong returns in a demanding fiscal environment.