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East West Banking Corp. , the financial arm of the Filinvest Group, saw its first-quarter net income rise 6.25 percent to P1.7 billion from a year ago, driven by consumer lending expansion and strategic digital initiatives.
“Our robust start to the year is a clear indicator of the strategic direction we’ve set — to be one of the top consumer banks in the country. By focusing on the needs of our customers, we are not just responding to the market — we’re shaping it. This positions EastWest as a formidable contender in the Philippine banking industry, ready to meet future challenges with agility and confidence,” said EW president Jacqueline Fernandez.
The bank attributed the growth to its strategic emphasis on refined consumer lending strategies, which enhanced its lending processes, accounting for 81 percent of total loans and contributing to a net interest margin of 8.1 percentNon-interest income reached P1.2 billion, up 8 percent in line with banking transaction growth.
Cost-to-income ratio also improved to 58 percent in line with the industry, despite its predominantly-consumer portfolio.
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