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EastWest net income grows 32% to P6 1B
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EastWest s net grows 32% to P6 1B
malaya.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from malaya.com.ph Daily Mail and Mail on Sunday newspapers.
EastWest nets P4 9B; ROE stands at 10 3%
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The full impact of the Gotianun-led EastWest Bank (EWB) 2022 asset build-up has started to bear fruit in the first three months of the year as the Bank pos.
Published May 20, 2021, 3:44 PM
Gotianun-led EastWest Bank (EW) posted a 10 percent dip in net income to P2 billion in the first three months of 2021 from the P2.3 billion earned in the same period last year.
In a disclosure to the Philippine Stock Exchange, the bank said its return on equity (ROE) was at 14.4 percent while total assets ended at P385.7 billion, almost flat from P384.1 billion in the first quarter of 2020.
“The lower income was primarily driven by net interest income (NII), lower trading gains, and higher taxes,” said the bank adding that NII was lower due to lower volume of loans and fixed income securities.