Revenues climbed 16 percent to P11.6 billion, fueled by a 13 percent rise in net interest income and a 25 percent increase in non-interest income, mostly from lending-related fees.
The bank’s consumer loans grew by 15 percent and now make up 84 percent of its total loan book—one of the highest among peers—while deposits reached P399.2 billion.
Management’s view
“Our first quarter performance reflects the solid momentum we’ve built in expanding our consumer franchise. We remain focused on driving profitability through disciplined growth and operational efficiency,” said EastWest president Jackie S. Fernandez.
Asset growth
Operating costs rose by only 8 percent, improving the cost-to-income ratio to 54.3 percent.
Total assets rose 11 percent to P531.2 billion, with credit cards and personal loans growing 36 and 18 percent, respectively.
The bank also declared P1.5 billion in dividends and launched the EastWest Puregold Visa Card to tap mass retail consumers.
Consumer market penetration
“Our strategic direction is clear—we are committed to scaling our consumer banking business, deepening customer relationships, and accelerating digital transformation,” said EastWest CEO Jerry G. Ngo.
“With a strong foundation, robust capital position, and market-leading margins, we are well-positioned to capitalize on growth opportunities," he added.
