EastWest first half profit drops 17% to P3.4B

MANILA, Philippines — East West Banking Corp. saw its first-half net income fall 17 percent to P3.4 billion as higher provisions for credit losses offset strong revenue growth.

The Gotianun-led bank said increased buffers for probable losses, amid macroeconomic and geopolitical uncertainties, weighed on earnings. Net revenues rose 19 percent to P28.4 billion, driven by a 21-percent increase in net interest income to P23.1 billion and a 14-percent rise in non-interest income to P5.3 billion.

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Operating expenses grew 11 percent to P14 billion, lifting pre-provision operating profit 30 percent to P14.4 billion. Its cost-to-income ratio improved to 49.3 percent. Still, the bank booked P10.1 billion in provisions as it adopted a more prudent approach to credit risk.

“Our core businesses continued to deliver strong growth, as reflected in the increase in net revenues and pre-provision operating profit,” CEO Jerry G. Ngo said.

“At the same time, we maintained a disciplined approach to credit risk while preserving our capacity to support customers and pursue sound growth opportunities,” he added.

READ: EastWest nets record P9.2B in 2025

Total assets rose 16 percent to P623.9 billion, with loans up 10 percent to P396.7 billion. Deposits increased 15 percent to P472.9 billion, with a 76-percent current and savings account ratio.

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The bank expanded wealth, payments and digital offerings, including enhancements to EastWest Priority and the rollout of Garmin Pay, while investing in data, innovation and AI.

It also waived InstaPay fees starting July 15 and kept PESONet transfers free to support digital payments adoption.