Loans to private individuals reach MVR 9.2 billion

The total amount of loans or personal loans disbursed by banks and other deposit-accepting financial institutions to private individuals has reached MVR 9.2 billion, according to the latest Maldives Monetary Authority (MMA) credit statistics.

These figures reflect loans and advances issued and outstanding as of 31 July 2026, compared against levels recorded in June 2026. The MMA table also includes annual data for each year from 2020, showing a steady rise in consumer borrowing over the past five years.

The total amount of credit disbursed to private businesses and individuals, or the overall private sector, also increased, reaching MVR 41.34 billion.

Among loans to private individuals, personal loans accounted for the second-largest share of total private-sector credit after tourism, standing at MVR 9.20 billion as of July.

This represents an increase of about two percent, or MVR 180.97 million, compared to MVR 9.02 billion recorded in June. Personal loans stood at MVR 8.86 billion as of December last year, reflecting an annual increase of about MVR 347 million.

Total loans and advances to the private sector rose to MVR 41.34 billion in July, up from MVR 40.85 billion in June, an increase of 1.2 percent or MVR 482.5 million, according to MMA data.

The tourism sector continues to account for the largest share of business loans. Loans to the sector reached MVR 12.91 billion in July, an increase of MVR 306.8 million from MVR 12.60 billion in June.

Business-transaction or commerce loans rose to MVR 3.22 billion in July from MVR 3.12 billion in June. Loans to the real-estate sector stood at MVR 3.46 billion, while loans to the construction sector increased slightly to MVR 9.21 billion.

For other sectors, credit disbursed for transport and communication stood at MVR 679.1 million, followed by MVR 90.9 million for electricity, gas and water services, and MVR 10.6 million for agriculture.

Manufacturing saw a slight decline. Loans to the sector fell to MVR 237.3 million in July from MVR 239.3 million in June. Other non-classified loans declined to MVR 1.87 billion in July from MVR 1.91 billion in June.

The figures released by the MMA are based on financial statements submitted by deposit-accepting financial institutions, including loans and advances disbursed, interest receivable and accounts receivable.