EastWest Bank expects 10-15% loan growth

EAST WEST Banking Corp. (EastWest Bank) expects its loan portfolio to grow between 10% and 15% this year, backed by the strength of its consumer business and despite weakening business sentiment amid domestic corruption concerns.

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“A good performing bank on the consumer market needs to grow at a regular pace over time. That’s what we're trying to achieve. Maybe 10% to 15% is what we're targeting; in between is probably most likely. So, consumer demand in the country is still okay. My biggest fear is that, again, from a macro perspective, it’s government spending, investments, consumer, net flows, import, export,” EastWest Bank Chief Executive Officer Jerry G. Ngo told reporters on Tuesday.

“And I hope that consumption continues to be robust, because that’s really what’s going to end up driving economic growth.”

As of end-June, EastWest Bank’s loans and receivables stood at P351.41 billion, up by 4.46% from P336.41 billion at end-2024.

Its consumer loans grew by 15% year on year in the first half to P298 billion, making up 84% ofits total loan portfolio, Mr. Ngo earlier said.