Will Co-opbank Pertama hit its RM102 million PBT target?

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Co-opbank Pertama is projected to meet its RM102 million profit before tax target for the current year.

Co-opbank Pertama Bhd (CBP) is confident in its ability to achieve its profit before tax (PBT) target of RM102 million for the current year. This projected figure represents a significant increase from the RM86 million PBT recorded in the previous year. The cooperative bank attributes this anticipated success to a strategic diversification of its product offerings and enhancements to its service quality.
Achievement of Profit Before Tax Target

CBP is anticipating a strong financial performance, aiming for a PBT of RM102 million in the current fiscal year. This target is notably higher than the RM86 million PBT achieved in the preceding year. The bank's chairman, Datuk Baharom Embi, indicated that this growth is a direct result of strategic initiatives undertaken to broaden its product portfolio and refine its service delivery.
Diversification and Service Improvement Strategy

The cooperative bank's chairman highlighted that the diversification of products and the improvement of services have been pivotal in driving its financial performance. These strategic moves are essential for CBP to maintain its competitive edge against other financial institutions. Establishing robust collaborations with service providers is also considered crucial for delivering high-quality banking products and services.
Customer and Membership Growth Projections

Looking ahead, CBP projects a consistent annual customer growth rate of between five and ten percent. The bank currently serves approximately 100,000 members and has set an ambitious goal to surpass 150,000 members by the year 2026. This expansion in membership is expected to contribute to the bank's overall growth and financial stability.
Digital Transformation Partnership

To accelerate its digitisation efforts, CBP has entered into a partnership with Sedania As Salam Capital Sdn Bhd, which will act as its digital partner. This collaboration is aimed at enhancing CBP's digital banking capabilities. Sedania As Salam's expertise in developing digital Islamic banking ecosystems is expected to play a key role in CBP's digital transformation journey.

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Will Co-opbank Pertama hit its RM102 million PBT target?

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