MANILA, PHILIPPINES – EastWest has been awarded Mid-Sized Retail Bank of the Year (Philippines) at the prestigious Asian Banking & Finance (ABF) Retail Banking Awards 2025, a distinction that affirms the Bank’s robust retail performance and its deep focus on community-relevant, customer-centric banking.
The award comes on the heels of a record-breaking year for EastWest, which posted a net income of Php 7.6 billion in 2024 – the highest in its 30-year history. At the heart of this performance was the Branch Banking Group (BBG), which led the Bank’s efforts in expanding customer reach, enhancing cost-efficiency and delivering consistent service excellence across its national retail footprint.
“Our success is built on making banking easier and more relevant for everyday Filipinos,” said Jacqueline S. Fernandez, President of EastWest. “This award speaks to the strength of our retail model and our team’s focus on putting the customer first, whether through digital tools or services tailored to each community.”
A key pillar of EastWest’s success in 2024 was its strong performance in low-cost funding. The Bank’s CASA (Current and Savings Account) deposits outpaced the industry average of 3.9%, maintaining its position among the top three banks in CASA funding for six consecutive quarters. With a CASA-to-Term Deposit ratio of 80% and a cost of funds below the industry average of 1.96%, EastWest sustained its growth through efficient, accessible capital.
BBG’s strategic cross-selling across loans, insurance, and investments drove further efficiency gains, bringing the Bank’s direct cost-to-income ratio down from 43% in 2023 to 41% in 2024. The introduction of SuperChecking, a bonus-interest checking account, added a compelling financial wellness product to its portfolio, reinforcing the Bank’s mission to offer practical, value-driven solutions to Filipino consumers.
“We set out to deepen relationships not just grow transactions,” said Ivy Uy, Head of the Branch Banking Group. “Through disciplined execution and strong local insight, we expanded our portfolio while staying relevant to communities we serve.”
