East West Banking Corp. reported a net income of P1.9 billion for the first quarter of 2026, fueled by stronger lending activity and sustained growth in its core banking businesses, even amid market volatility and global economic uncertainty.
Revenue and Income Growth
The bank's revenues rose 15 percent to P13.3 billion in the January-to-March period, supported by higher loan volumes and stable customer activity. Net interest income climbed 20 percent to P11.1 billion as the bank expanded its lending portfolio while efficiently managing funding costs. Non-interest income reached P2.2 billion, though softer trading gains in volatile markets tempered overall growth. Fee-based income increased 8 percent to P1.9 billion, reflecting continued customer transactions and business activity.
Core Income Strength
Excluding trading-related market impacts, core income grew 19 percent to P13.6 billion, highlighting the strength of the bank's recurring earnings base. Operating expenses edged up only 1 percent to P6.4 billion as the bank continued investing in technology and workforce development while keeping costs under control. Pre-provision operating profit rose 32 percent to P6.9 billion, and the cost-to-income ratio stood at 47.9 percent.
Risk Management and Asset Growth
EastWest booked P4.7 billion in provisions for credit losses, maintaining a conservative approach to risk management amid lingering macroeconomic uncertainties. Its non-performing loan coverage was 85 percent. Total assets grew 11 percent to P588.9 billion, driven mainly by loan expansion. Gross loans increased 14 percent to P390.4 billion, while deposits rose 14 percent to P455.3 billion. The bank's current and savings account (CASA) ratio remained strong at 78 percent, indicating a stable funding base.
Capital Adequacy and Executive Comment
EastWest maintained capital levels above regulatory requirements, with a capital adequacy ratio of 12.8 percent and a common equity tier 1 ratio of 12 percent. Chief Executive Officer Jerry G. Ngo stated, "The Bank's revenue generation capacity remains strong despite market volatility impacting trading-related revenues across the industry." He added, "We strive to remain steady through changing market conditions. By remaining disciplined, we preserve our flexibility and resilience, allowing us to support customers and capture growth opportunities as conditions become more favorable."
Digital Innovation and Awards
Beyond financial performance, EastWest continued to gain recognition for digital innovation and wealth management services. Its digital banking platform, ESTA, received three honors at the Digital CX Awards 2026: Best Use of AI for Customer Experience – Philippines, Best Use of Gen AI for Customer Experience – Philippines, and Outstanding Chatbot Customer Experience. EastWest also won the Philippines' Best for Discretionary Portfolio Management award at the 2026 Euromoney Private Banking Awards for the second consecutive year.
