GOTIANUN-LED East West Banking Corp. (EastWest Bank) saw its first-quarter net income rise 6 percent to P1.7 billion from P1.6 billion in 2023, driven by continued consumer lending expansion and strategic digital initiatives.
GOTIANUN-LED East West Banking Corp. saw its first-quarter net income rise 6 percent to P1.7 billion from P1.6 billion in 2023, driven by continued consumer lending expansion and strategic digital initiatives.This translated to a return on equity of 10 percent, up 52 basis points compared to year-end 2023, the bank told the stock exchange on Tuesday.
2 billion amid higher banking transactions.Loans and receivables jumped by 19 percent to P306.1 billion, fueled by strong growth in consumer loans such as credit cards and auto, personal and salary loans.Operating expenses, meanwhile, increased 22 percent to P5.8 billion due to higher manpower and business-related costs to expand the bank's balance sheet and boost technological investments.
Bank Nets P1.7B In First Quarter
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