CBMPC Invests in Ilocos Consolidated Cooperative Bank’s Common Shares

On February 28, 2022, the CBMPC Board of Directors approved the recommendation of the Business Development and Investment Committee (BDIC) to invest P50,000 in the common shares of stocks of Ilocos Consolidated Cooperative Bank (ICCB). Specifically, the purpose of this undertaking is to invest in common shares of stocks with a dividend history of 5% to 7% p.a. The BDIC chaired by Dir. Demetrio Opinion recommended said investment after the evaluation of the cooperative bank’s financial ratios yielded favorable results. Moreover, this is in accordance with one of the goals of CBMPC of generating reasonable financial return on its investments.

ICCB resulted from the consolidation of two cooperative banks located in north Luzon, the Cooperative Bank of Ilocos Norte and the Ilocos Sur Cooperative Bank.