MIB posts strong financial growth in first half of 2025

Maldives Islamic Bank (MIB) has reported significant growth across key business areas in the first six months of the year, according to its latest quarterly financial report.

The bank posted a net profit of MVR 183 million for the first half of 2025; a 30 percent increase compared to the MVR 135 million recorded during the same period last year.

Net profit for the second quarter stood at MVR 96 million, marking a 10 percent rise from the first quarter.

Revenue for the first half reached MVR 419 million, up 25 percent compared to the first six months of 2024. MIB also recorded substantial growth in both its asset base and deposit base, each increasing by MVR 1 billion between the first and second quarters.

By the end of the second quarter, the bank’s assets totaled MVR 13 billion, up from MVR 12 billion in the previous quarter. Customer deposits grew from MVR 10 billion to MVR 11 billion, while total financing by MIB stood at MVR 6 billion.

Digital banking services also saw a notable increase. Internet and mobile banking transactions rose from 12 million to 15 million, while card transactions grew from 1.89 million to 2.29 million during the quarter.

MIB reported an annual profit of MVR 278 million in 2024.

As the country’s first only full-fledged Islamic bank, MIB has continued to expand its services across Maldives. The bank offers modern, customer-friendly solutions, including instant online account opening and full access to banking services without the need to visit a physical branch.