Commercial Bank of Maldives (CBM) was awarded the “Excellence in Finance” in the Banking and Finance category of Maldives at the Maldives Business Awards 2019, organized by Blazon Maldives held at the Crossroads Maldives.
Maldives Business Awards recognizes and acclaims the businesses who have shown exceptional performances in their respective fields. All businesses were assessed on the aspects of Financial performance, Customer Service, Internal Processes and Human Resources by a senior judge panel consisted of prominent personalities in the Maldivian financial sector inclusive of Mr. Hamdun Abdulla Hameed (former Minister of Planning/Ambassador), Ms. Saeeda Umar (former Chairperson of Bank of Maldives, Consultant of Asian Development Bank), Mr. Ahmed Munawar (former Finance Minister), & Mr. Ahmed Maazin (Permanent Secretary Ministry of Finance).
During the short span of time from the inception in September 2016, CBM has been able to show exceptional performance in the industry, competing with the well-established local and international banks. CBM has also been able to capture a sizeable portion of the market share whilst, delivering customer friendly solutions to meet the needs of both the retail and corporate segments. As a result, Bank was able to break-even within a short span of 6 months of operation and recorded a Profit Before Tax of over MVR 39 Mn for the FY 2019. The Asset base of CBM as at end of 2019 stood at MVR 1.65 Bn
Commercial Bank of Maldives (CBM) was ranked amongst the top leading 100 companies in the Maldives at the “GOLD 100 GALA” event organized by Corporate Maldives at the Crossroads Maldives. The GOLD 100 Gala award ceremony was held on 16th November 2021, to honour and respect the top 100 companies of the Maldives and their accomplishments for the year 2020 and the “GOLD 100” magazine was unveiled.
The GOLD 100 award is an award presented by Corporate Maldives to recognize achievement mainly in the business sector of the Maldives. The ‘Gold 100’ is a list if the leading companies in the Maldives – selected by Corporate Maldives every year. The companies were selected by a special consultant committee. The evaluation criteria include the scale of operations, success and innovativeness in CSR efforts, compliance with regulations, corporate governance etc.
Global Business Outlook, UK announced that CBM has been selected as the winner in the category of Fastest Growing Commercial Bank – Maldives 2021.
The Global Business Outlook awards recognises and reward excellence in business to companies all over the globe, both in public and private sector. These awards are open to companies regardless of their size, and individuals, based anywhere in the world, entries are invited from those that feel they have performed exceptionally well than their competitors to create a business edge and market recognition.
Global Business Outlook is a business publication based on United Kingdom that covers Banking, Insurance, Brokerage, Islamic Finance, Hedge funds, Brands, Energy, Hospitality and Real Estate start-ups and Disruptive Technologies.