Best bank: Bank of Maldives
Under the leadership of chief executive Karl Stumke, Bank of Maldives, the country’s best bank, has delivered on its strategic priorities in 2023, resulting in a strong financial performance and substantial customer acquisition.
The bank, which is listed but majority owned by the government, has achieved a record-breaking profit after tax of approximately $129 million. This has prompted the bank to propose its highest ever dividend payout. Total assets have witnessed a robust 9% growth, while operating profit has surged by 7% year on year.
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