Co-Opbank Pertama – APEA – Asia Pacific Entrepreneurship Awards

TOGETHER WE GROW.

Co-Opbank Pertama
Financial Services Industry
36, Tingkat 3, Menara RKT, Jalan Raja Abdullah,Off Jalan Sultan Ismail, 50300 Kuala Lumpur
Tel: +603 2604 0854
www.cbp.com.my

Career Highlights

1950

  • Establishment of the Co-opbank Co-opbank Association of Malaysia Berhad.

1971

  • Opening of membership.

1993-1997

  • Opened new branches in Bayan Baru, Penang; Sungai Petani, Kedah; Taiping, Perak; and Alor Setar, Kedah.

2014

  • Received recognition from the Cooperative Commission of Malaysia (MCMC) and Bank Negara Malaysia (BNM) to fully operate as a Co-opbank.

2017

  • Registered an impressive growth with total assets of RM3.1 billion and revenue of over RM182 million, an increase of 33% or RM45.1 million (from 2016).

2018

  • Ranked 3rd Best Co-operative in Malaysia.
  • Changed name to Co-opbank Pertama.
Corporate Excellence Category

Co-Opbank Pertama

Financial Services Industry

Introduction

Co-Opbank Pertama (“CBP”) was founded on 7 June 1950 under its original name “The Province Wellesley Co-operative Banking Union Limited”. CBP is a cooperative organisation established under the Co-operatives Act 1993. In 1959, the name was changed to Bank Persatuan Kerjasama Seberang Perai Berhad and later in 1995 it was changed to Koperasi Bank Persatuan Malaysia Berhad.

In 2014, CBP was acknowledged as the first co-operative bank in Malaysia and the name was changed to Koperasi Co-opbank Persatuan Malaysia Berhad or “Coopbank Persatuan”. The 59th Annual General Meeting of the Association on 29 April 2018 approved the amendment of the Undang-Undang Kecil (UUK) involving the change of name from Koperasi Co-opbank Persatuan Malaysia Berhad to Koperasi Co-opbank Pertama Malaysia Berhad or CBP.

CBP offers a wide range of Syariah-compliant products and services. The Bank’s business focuses mainly on co-operative membership, deposits, retail, corporate financing and fee-based services. CBP aims to become the premier Shariah-compliant Co-opbank in Malaysia. It is committed to providing financial services to the community to:

• Give the best returns for its clients and members
• Improve the welfare of its members
• Offer competitive banking products with full integrity
• Practise core values through cooperative principles

Corporate Culture

CBP encourages its people to practise the culture as below:

• Voluntary and open membership
• Democratic control by members
• Member participation in economic activities
• Freedom of autonomy
• Education, training and information
• Cooperation among cooperatives
• Concerned to the community

The Bank focuses heavily on giving back to the community by conducting CSR activities.

Some of their previous CSR activities include Program motivasi bersama lebih dari 1000 orang pelajar di Pulau Pinang dan Sarawak bersama Ustaz Don Daniyal, Program Back to School bersama dengan 500 orang pelajar, Program Motivasi Skor A bersama Kelab My Star CBP, Program bersama Asnaf

“In FYE 2018, CBP achieved its important milestone when recorded the highest profit before tax amounted RM52.7 million and surpassed the record achieved in 2017 with the profit before tax amounted RM39.7 million. That is an increase of 32.7% of profit achieved by CBP. As of to date, the Bank also recorded the increase of total members to more than 90,000 members. CBP has 23 branches throughout Malaysia with more than 500 employees. ”

Achievements and Impact

In FYE 2018, CBP achieved its important milestone when recorded the highest profit before tax amounted RM52.7 million and surpassed the record achieved in 2017 with the profit before tax amounted RM39.7 million. That is an increase of 32.7% of profit achieved by CBP. As of to date, the Bank also recorded the increase of total members to more than 90,000 members. CBP has 23 branches throughout Malaysia with more than 500 employees.

The Bank was recognised among the best co-operative in Malaysia in 2018 together with the big names of co-operative such as Bank Rakyat and Koperasi Permodalan FELDA Malaysia Berhad. It has also received numerous co-operative awards since 2011.

Currently, CBP is focusing on developing internal talents by organising a structured training for all its staff. This is to ensure that all of CBP’s staff are well equipped to perform their daily tasks. CBP is also promoting the culture of job rotation to ensure the sustainable growth of the Company.

Future Direction

Currently, CBP is working to fulfill its 2015 – 2020 strategy that has been planned with yearly revision to suit the market changes. The Bank aims to achieve RM111 millions of profits and to provide a 10% dividend to its members. By 2020, the Bank aims to own assets in total of RM5 billion and improve its financing portfolio to the cooperative sector to 30%.

In order to achieve its target, the management at CBP is currently improving the Bank’s IT infrastructure and services to improve its members’ and customers’ banking experiences. It is also offers banking agent and mobile banking services and is currently exploring new products and services to be offered to its members and customers. As part of CBP’s business expansion and to increase its customer’s accessibility, the Bank plans to open at least two branches at each state in the next three years.