Maldives Islamic Bank (MIB) has delivered a record-breaking financial performance in 2025, marking three consecutive years of accelerated growth and celebrating a major milestone as the Bank commemorates its 15-year anniversary.
Key highlights for 2025:
- Revenue (Total Operating Income): MVR 897.44 million (+26.6% YoY)
- Net profit (Profit after Tax): MVR 370.74 million (+33.4% YoY)
- Customer deposits: Exceeding MVR 13 billion
- Total assets: Surpassing MVR 16 billion
- Proposed dividend: MVR 5.41 per share (+26% YoY of total dividend)
Over the past three years, MIB has demonstrated consistent growth across all major financial indicators, underpinned by operational efficiency, strategic expansion, and strong customer trust.
In 2023, the Bank recorded MVR 475.56 million in revenue and a net profit of MVR 176.5 million, laying the foundation for sustainable growth. By 2024, MIB delivered its strongest performance to date, with revenue rising to MVR 709.26 million and net profit climbing to MVR 277.91 million. During this period, financing assets increased by 40% and customer deposits rose by 33%, pushing total assets beyond MVR 11 billion. The Bank also translated this growth into tangible shareholder returns, declaring a 50% cash dividend and issuing over 1.4 million bonus shares, reinforcing investor confidence and its commitment to value creation.
In 2025, MIB sustained its upward trajectory. The Bank’s balance sheet strengthened further, with customer deposits exceeding MVR 13 billion and total assets surpassing MVR 16 billion, reflecting strong liquidity, growing market share, and increasing customer confidence.
A key driver of this performance has been continued investment in digital banking. Platforms such as FaisaNet and FaisaMobileX have enhanced customer experience through seamless, real-time banking services, contributing to higher transaction volumes, improved efficiency, and broader access to financial services across the Maldives. Simultaneously, MIB has expanded its nationwide footprint with additional branches and ATMs, ensuring greater accessibility for customers in both urban centres and remote islands.
Dividend Growth: Over the past three years, MIB has steadily increased its dividend payouts, reflecting its commitment to shareholder value. In 2023, the Bank declared a dividend of MVR 2.90 per share (MVR 65.25 million). This rose significantly in 2024 to MVR 4.58 per share, comprising 50% cash dividend and 50% bonus shares, totaling MVR 103.05 million, a 58% increase from 2023. For 2025, the Bank has proposed a cash dividend of MVR 5.41 per share, totaling MVR 129.65 million, representing a further 26% increase over 2024.
As MIB celebrates 15 years of operations, its carefully executed strategy focused on sustainable growth, operational efficiency, and innovation has positioned the Bank to maintain its momentum and continue delivering reliable returns to shareholders while providing world-class banking services across the Maldives.