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EastWest Banking Corp., the banking arm of the Gotianun family, achieved a net income of P3.5 billion in the first half of 2024, driven by robust core revenue growth from a larger asset base and higher yields.
Net interest margin widened to 8.1 percent, supported by a focus on consumer lending, which now represents 82 percent of the bank’s loan portfolio. Operating expenses increased 22-percent to P11.6 billion, led by higher costs in manpower, business activities, advertising and marketing, reflecting the bank’s growth strategy to enhance market share.
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