East West Banking Corporation (EastWest) of the Gotianun Group reported its highest-ever net income of ₱7.6 billion last year, a 25 percent increase from 2023 earnings, driven by strong consumer loan expansion and robust deposit generation.

In a disclosure to the Philippine Stock Exchange, the bank said its return on equity (ROE) improved to 10.8 percent, returning to double-digit levels as it continued to expand its core income base.

In the fourth quarter alone, net income surged 47 percent year-on-year, driven by higher revenue-generating capacity.

“EastWest’s strong financial performance is a result of our consistent drive for operational efficiency and customer-centric banking,” said EastWest President Jackie S. Fernandez.

“We have optimized our cost structure, enhanced our digital capabilities, and expanded our lending operations to better serve our customers. Our disciplined approach to managing risk and costs has allowed us to maintain a strong balance sheet while continuously improving the quality of service we provide,” she added.

EastWest’s net interest income climbed 19 percent to ₱33.5 billion, fueled by 16 percent growth in its consumer lending portfolio, which now comprises 82 percent of total loans—the highest among peer banks.

Deposits expanded eight percent to ₱385.4 billion, maintaining a current account and savings account (CASA) ratio of 81 percent, among the highest in the industry. This solid funding base enabled EastWest to achieve an industry-leading net interest margin (NIM) of 7.8 percent.

Non-interest income also rose 20 percent to ₱8.9 billion, driven by increased transaction fees and trading gains. As a result, total revenues increased 19 percent to ₱42.4 billion.

Operating expenses reached ₱23.5 billion, growing slower than revenues at 16 percent, primarily due to manpower and information technology costs associated with expansion and efficiency improvements, and business-related expenses connected to lending activities.

The cost-to-income ratio improved by 160 basis points to 55.3 percent as the bank continues to enhance its operational efficiency.

Total assets surpassed the half-trillion mark, growing 13 percent to ₱523.7 billion. Loans and receivables expanded 13 percent to ₱336 billion, led by 38 percent growth in credit cards, 17 percent in personal and salary loans, and five percent in auto loans.

Capital ratios remain strong and supportive of future growth, with the capital adequacy ratio (CAR) at 13.4 percent and the common equity tier 1 (CET1) ratio at 12.7 percent.

“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. We will continue investing in technology, expanding our customer base, and strengthening our product offerings to sustain our momentum in the years ahead,” he noted.