SM MOA Arena posts strong 2024 performance

SM Prime Holdings Inc.'s investment of over $10 million for SM MOA Arena's modernization has borne fruit with its robust 2024 performance that reinforced its status as the Philippines' premier venue for large-scale events and international artists.

- RICHMOND MERCURIO

“We’re optimistic as always,” EastWest CEO Jerry Ngo told reporters on the sidelines of the Always Panalo Visa Credit Card launch last week.

“Last year, we grew our net income by 25 percent. And then prior to that, we grew by 32 percent,” he said.

The Gotianun-led bank saw its net income jump by 24.6 percent to P7.6 billion in 2024 from P6.1 billion in 2023 on the back of strong consumer loan expansion and robust deposit generation.

While Ngo acknowledged that the bank will eventually face base effects as it scales, he said EastWest is focused on becoming more efficient and transforming operations, which should support continued growth.