142 BML ATMs nationwide; an additional 57 planned for this year

Bank of Maldives (BML)’s CEO, Managing Director Karl Stumke says the bank has 142 ATMs nationwide at present, adding there are plans to roll out an additional 57 ATMs this year.

Speaking at BML’s AGM on Tuesday night, Stumke said he is a strong advocate of reducing the amount of physical cash being used as a medium of payment in light of the demographics of Maldives, adding this was part of the bank’s long-term strategy.

Nevertheless, he said the current needs of the communities were identified during this transition and therefore, the bank, had introduced ATM services at seven islands including Hulhumale’ Phase II.

As per Stumke, this brings up the total number of ATMs nationwide to 142, representing 75 percent of all ATMs in the country.

He further announced plans to roll out 57 more ATMs across the islands this year.

At Tuesday’s AGM, BML’s shareholders approved a dividend payout of MVR 269 million at MVR 50 per share; the highest-ever in its history.

Stumke, in his remarks, noted that BML achieved it’s highest-ever net profit at MVR 2.07 billion last year.

Furthermore, he revealed that efforts are underway to facilitate transactions in UAE’s Dirham (AED) and China’s Yuan (Renminbi).