EASTWEST Banking Corp. reported a 14 percent rise in nine-month net income to P6.6 billion, driven by strong consumer lending and fee-based income.
Revenues climbed 16 percent to P37.3 billion as net interest income expanded 18 percent to P29.7 billion, with consumer loans up 17 percent and now comprising 85 percent of the total portfolio.
Operating expenses rose seven percent to P19.2 billion, improving its cost-to-income ratio to 51.4 percent. Total assets increased 11 percent to P552.9 billion, while deposits grew 12 percent to P415.8 billion with a Casa ratio of 81 percent.
Chief executive officer Jerry Ngo said the bank’s core business and funding strategies are supporting sustainable profitability. / KOC