In the financial report of Maldives Islamic Bank (MIB) published for Q1 2023, it is reported that during the said quarter, total assets of the bank reached MVR6.59 billion (US$426.25 million), recording a growth of 6.36% compared with Q4 2022 while customer deposits grew by 6.97% to MVR5.5 billion (US$355.74 million) from MVR5.14 billion (US$332.46 million) recorded for the previous quarter. MIB's financing portfolio continued to yield a positive growth trajectory with MVR3.01 billion (US$194.69 million) recorded as net receivables from financing activities at the end of Q1 2023 compared with MVR2.82 billion (US$182.4 million) for Q4 2022. The total revenue figure continued its upward trend to reach MVR103.64 million (US$6.7 million) by the end of the quarter, compared with MVR96.21 million (US$6.22 million) recorded for Q4 2022, a growth of 7.72%. Net profit for the quarter was recorded at MVR42.3 million (US$2.74 million), compared with MVR20.94 million (US$1.35 million) recorded for Q4 2022. At the end of Q1 2023, earnings per share improved to MVR1.88 (US$0.12) from MVR0.93 (US$0.06) recorded for Q4 2022 while net assets per share grew to MVR36.69 (US$2.37) from MVR34.81 (US$2.25) in the same period.
