KUALA LUMPUR, June 11 — Koperasi Co-opbank Pertama Malaysia Bhd (CBP) has recorded a jump in profit before tax (PBT) to RM103.43 million for the financial year ended Dec 31, 2022 (FY2022), the highest earnings achieved since its establishment in 1950.
Its chairman, Datuk Baharom Embi, said the pre-tax profit surged 20 per cent compared with RM86.14 million in the previous year.
“The increase in profit was driven by personal financing and Ar Rahnu products, as well as home financing, alongside cooperative and corporate financing which helped to boost earnings for FY2022.
“Apart from that, CBP has also recorded the highest improvement in assets to RM7.73 billion up to Dec 31, 2022 compared with RM6.07 billion in the preceding year, notching an increase of 28 per cent,” he said in a statement today.
Baharom further said that the dividend announcement will be made soon after getting the approval and agreement from the Malaysia Cooperative Societies Commission (SKM).
“Insya-Allah the dividend rate being proposed to SKM is competitive even though (the cooperative bank) was faced with economic uncertainties throughout 2022, and in line with the earnings achieved last year,” he said. — Bernama
