Corruption top concern for EastWest’s foreign investors

While Gotianun-led East West Banking Corp. (EastWest) said the bank’s exposure to the flood control corruption issue is limited, its chief noted that the matter is now the first question raised by foreign investors.

- By DERCO ROSAL

“We have very limited exposure to the corruption issue because our focus is consumption. But it affects the entire economy,” EastWest Chief Executive Officer (CEO) Jerry Ngo said last week.

“It?s quite sad, especially when I speak to foreign investors—before we even start the conversation, that’s the first thing they ask. So it’s a bit challenging,” Ngo added, noting that the news cycle surrounding the flood control controversy keeps dragging on.

“To be fair, I actually think it’s a great opportunity for the country, once and for all, to reset,” the CEO said.