MIB records MVR 100 million profit in the last quarter of last year

Maldives Islamic Bank (MIB) has stated that it earned a profit of MVR 100 million during the last quarter of last year.

MIB reported that the bank's assets increased by MVR 1.6 billion in the fourth quarter, bringing the total asset value to MVR 16.6 billion. Additionally, MVR 100 million was received as net profit.

Looking at MIB's statistics for the third quarter of last year, the operating profit received during that quarter was MVR 126 million.

Furthermore, although a total of MVR 12.11 billion was received as deposits in that quarter, that figure increased to MVR 13.64 billion in the final quarter. This is an increase of MVR 1.53 billion compared to the third quarter.

MIB stated that the increase in the amount of money deposited by customers during the final quarter is evidence of the growing trust in the bank. In this regard, a growth of more than MVR 1 billion was also achieved between the second and third quarters of last year.

The bank said it is working to provide high-quality services that gain the trust of customers.

MIB also carried out various activities beneficial to the community during the last quarter.

Accordingly, an agreement was made and work has commenced with Soneva Namoona to conduct a waste management project in Baa Atoll.

MIB is a bank that provides many services online, including the service of opening accounts online.