CBP To Strengthen Capital Position To Support Business Expansion

KUALA LUMPUR, March 20 (Bernama) -- Co-opbank Pertama (CBP) will continue to monitor its capital position and ensure that it remains at an optimal level to support its business expansion.

Chief executive officer Khairil Anuar Mohammad Anuar said that as of Dec 31, 2024, CBP's shareholders’ funds had surpassed RM1.6 billion, sufficient to support its business growth.

“The reopening of CBP membership shares in June 2024 has helped increase our risk-weighted capital ratio position to a healthy level to support business growth while ensuring compliance with the prudential ratio set by both our regulators, Suruhanjaya Koperasi Malaysia and Bank Negara Malaysia.

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"Additionally, CBP plans to issue its maiden sukuk this year. It will be a RM5 billion programme based on the Wakalah Bi Al-Istithmar concept, to be issued in stages according to business needs and market conditions,” he said.

He noted that the first issuance is targeted to be between RM500 million and RM1 billion, depending on market conditions, investor appetite, and CBP's liquidity position.

Additionally, Khairil Anuar said the bank will continue to diversify its funding base and maintain a stable funding ratio, which is critical for its asset and liability management strategy.

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He said CBP is also in the process of integrating with Retail Payment Platform (RPP) to enable customers to use DuitNow Transfer and DuitNow QR on their HELOCBP and HELOBiz mobile applications.

He noted that this initiative is part of CBP's ongoing efforts to enhance its real-time and online banking services.

"We are targeting implementation by the second quarter of 2025, marking a significant milestone in the advancement of our digital banking services for customers," he said.

In another development, the bank reported a profit of RM124.19 million for the financial year 2024, an increase of 3.1 per cent year-on-year.

-- BERNAMA