EastWest nets P6.6 B on strong lending

East West Banking Corp. sustained its growth momentum from January to September, posting a 14-percent increase in net income to P6.6 billion on the back of stronger lending and higher fee-based revenues.

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“Our core consumer banking business is thriving, aligning perfectly with the evolving needs of our customers,” EastWest CEO Jerry Ngo said.

“Our strategic funding initiatives are likewise effectively supporting our growth plans and fortifying our funding structure. These critical components have significantly contributed to our steady revenue generation,” Ngo said.

The Gotianun-led bank’s return on equity stood at 11.6 percent as total revenues climbed 16 percent year-on-year to P37.3 billion.