KUALA LUMPUR: Co-opbank Pertama Bhd’s (CBP) profit before tax increased 2.4 per cent to RM86.156 million for the financial year ended December 2021 compared with RM84.15 million in the previous year.
Chairman Datuk Baharom Embi said CBP has proposed a net dividend of 6.1 per cent for ordinary shares for the financial year ended December 2021.
“We have proposed the payment of dividends to the Malaysia Co-operative Societies Commission (SKM) and it will be announced in the near future.
“The dividend rate proposed to SKM is competitive despite facing economic uncertainties over the past year,” he told reporters after the opening of the CBP annual general meeting here today.
Meanwhile, he said CBP is opening up opportunities for existing members to increase the number of shares in the cooperative banks effective June 1, 2022 until the member’ share capital reach RM1 billion on a first come first serve basis.
He said the share capital increment is only open to existing CBP members and those registered before June 1, 2022 with the maximum limit for individual members being RM50,000 including the remaining existing shares.
“For cooperative members, the maximum limit set is RM100,000 including the remaining existing shares,” he said.
Baharom said new memberships are still being opened at several new branches on a walk-in basis but the allowable share capital limit remained at RM5,000 for individuals and RM10,000 for cooperatives.
As at Dec 31, 2021, CBP’s membership stood at 91,601 members while customer deposits increased by 6.9 per cent to RM4.9 billion for 2021 from RM4.3 billion the previous year.
-- Bernama