RM3.5 billion worth of financing this year is expected to be given out to small and medium enterprises and cooperatives by Co-opbank Pertama Malaysia Bhd. — Reuters pic
Chairman Kamari Zaman Juhari said the growth in loans will be supported by the impending launch of more quality projects with the economy strengthening, as well as campaigns by the bank.“Basically due to growth in loans,” he said, adding the bank’s recently launched PSK scheme for cooperatives is also expected to contribute to the profit rise.
Last month, CBP announced an allocation of RM700 million for the PSK scheme to help cooperatives nationwide obtain financing facilities through six financing products approved by the Cooperative Societies Commission , including i-factoring, i-contract, extended financing, periodic financing and revolving credit.
Source: Loan News Today (loannewstoday.net)
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