RAM Ratings Awards CBP Inaugural A3 Credit Rating – BusinessToday

RAM Ratings Awards CBP Inaugural A3 Credit Rating – BusinessToday

Co-opbank Pertama (CBP) has received its inaugural credit rating of A3/Stable/P2 from RAM Rating Services Bhd (RAM Ratings).

CBP’s Chief Executive Officer, Khairil Anuar Mohammad Anuar, stated that this credit rating indirectly strengthens CBP’s brand in the Malaysian financial industry.

“This recognition is a significant boost for CBP to solidify its presence in Malaysia and indirectly compete healthily with other financial institutions,” he said.

Khairil Anuar added this rating is expected to build confidence among the public and investors in CBP. It is seen as a step towards attracting and convincing investors, supporting CBP’s plans to issue sukuk for business growth and expansion.

“Moreover, CBP has demonstrated commendable business performance over the past three years in terms of profit and total assets,” he added.

He mentioned that with a diverse range of banking products and services at CBP, as well as the introduction of several new offerings, CBP is confident in attracting more new customers while retaining existing ones.

“For the financial year ended 31 December 2023, CBP recorded a profit of RM120.56 million, marking the first time since our establishment with total assets amounting to RM10.87 billion.

“The bank is poised to continue advancing and competing with other financial institutions in Malaysia,” he said.

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