East West Banking Corp. said Tuesday its net income increased 6 percent to P1.8 billion in the first quarter of 2025 from a year ago, driven by strong growth in consumer lending and continued focus on cost efficiency.
“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 Fernandez.
Revenues rose 16 percent year-on-year to P11.6 billion, while net interest income increased 13 percent to P9.3 billion.
Consumer lending grew 15 percent, accounting for 84 percent of total loans. Deposits rose 12 percent to P399.2 billion, with a CASA (current account savings account) ratio of 74 percent.
EastWest said it maintained a strong net interest margin (NIM) of 8.1 percent.
Non-interest income grew 25 percent to P2.3 billion, with fees from the lending business increasing 31 percent to P1.7 billion.
Operating expenses went up 8 percent to P6.3 billion, mainly due to manpower and business growth costs. EastWest improved its cost-to-income ratio to 54.3 percent.
The bank’s total assets grew 11 percent to P531.2 billion, while loans and receivables rose 11 percent to P339.0 billion, boosted by strong growth in credit cards (36 percent) and personal loans (18 percent).
EastWest said to support its growing consumer base, it launched the EastWest Puregold Visa Credit Card aimed at everyday shoppers and small business owners.
EastWest recently declared cash dividends of P0.68 per share, amounting to P1.5 billion or 20 percent of 2024 earnings.
“Our strategic direction is clear—we are committed to scaling our consumer banking business, deepening customer relationships, and accelerating digital transformation,” said EastWest chief executive Jerry Ngo.
