Co-opbank Pertama targets RM1b share capital by 2020

BUKIT MERTAJAM, Dec 23 — Co-opbank Pertama (CBP) aims to increase its share capital to RM1 billion from the current RM800 million by 2020.

Its Chairman, Kamari Zaman Juhari said the current total paid-up share capital of the co-op bank was raised through 84,000 individual members and 672 co-op members.

“Hence, CBP plans to increase its total share capital by up to RM200 million in 2019 in an effort to strengthen its liquidity position.

“Several steps are being taken by CBP to intensify its membership campaigns among major and big co-ops nationwide.

“I am confident that CBP can reach RM1 billion shares by 2020,” he told reporters after attending the Back to School Programme organised by CBP at Mydin Mall here today.

Set up under the Co-operative Societies Act 1993 and registered on June 7, 1950, CBP was accorded a co-op bank status in 2014.

Meanwhile, CBP aims to open four new branches next year as part of its business expansion strategy.

Kamari said at present CDB has 24 branches with the opening of two new branches in Kuala Selangor and Batu Pahat and would open four more outlets next year, namely in Port Dickson (Negeri Sembilan), Temerloh, Dungun (both in Terengganu), and Tanah Merah (Kelantan).

He said both the Kuala Selangor and Batu Pahat branches were CBP’s second outlets in Selangor and Johor.

“The opening of the new branches is expected to increase CBP’s access to existing and new customers, as well as offering banking services to the local communities,” he said.

He said co-op bank was also in the process of introducing a CBP debit card that could be used at any automated teller machines (ATMs) provided by other banks. — Bernama

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