Commercial Bank of Maldives to Commence Banking Operations
Tree Top Investments is pleased to announce the opening of Commercial Bank of Maldives (CBM). Commercial bank of Maldives is set out to enhance and improve the banking industry by providing efficient services through technology, innovation and expertise knowledge.
CBM will be the eighth bank to open in the country and was granted license by the Maldives Monetary Authority on the 16th May 2016. CBM is a joint venture between the Commercial Bank of Ceylon holding a majority share of 55% and Tree Top Investments accounting for a 45% stake. Thus the combination of the partners, will include the expertise of the banking industry and the comprehensive local market knowledge which will contribute to the added value of services. CBM will deliver services in parallel to those offered in Commercial Bank of Ceylon. The bank expects to commence operations in the third quarter of 2016.
CBM aims to provide a banking service that ensures accessibility to a nation with a unique geographical nature with growing consumer and business needs. The company recognizes the challenges in the banking sector and intends to provide an accessible service through integration of modern technology and infrastructure to establish an efficient banking network within the Maldives.