BRADES- Bank of Montserrat Limited (BoML) has reported a net profit before tax of EC$6.4 million for the fiscal year ending September 30, 2024. The results were shared during the Bank’s 31st Annual General Meeting, held on July 10 at the Montserrat Cultural Centre.
While slightly below last year’s record EC$6.8 million, the Bank saw a 14% rise in total income, driven by increased interest earnings and growth in its investment portfolio. Outgoing Chairman Dalton A. Lee highlighted the Bank’s progress in digital services and its role in Montserrat’s development.
Key indicators include a 24.7% capital adequacy ratio, a 13.8% return on equity, and a proposed dividend of 37 cents per share.
Modernization
BoML plans to continue modernising its services, focusing on ATMs, international transactions, and further tech upgrades.
The Bank of Montserrat Limited (BoML) is a publicly owned commercial bank with a mixed ownership structure. It is not fully government-owned, but the Government of Montserrat is the single largest shareholder.
