EastWest Bank relentlessly pursues its vision to be a world-class bank anchored on service excellence in our chosen markets. Undaunted in our journey toward transformation, we will make this vision leap from paper to reality as we forge ahead.
OUR VISION STATEMENT: "World-class bank anchored on service excellence in our chosen markets"
THE CORPORATE SLOGAN: A PASSION FOR SERVICE Simpler. Faster. Better.
ABOUT EASTWEST BANK: EastWest Banking Corporation - the first recipient of a commercial bank license by the Bangko Sentral ng Pilipinas in the mid 90s.
EastWest Banking Corporation was granted its commercial bank license by the Bangko Sentral ng Pilipinas on July 6, 1994 - the first recipient of commercial bank license after the central monetary authority liberalized banking in the mid 90s.
The bank is a subsidiary of Filinvest Development Corporation (FDC), one of the Philippine's leading companies founded by Andrew L. Gotianun, Sr. In 1955. The Filinvest Group traces its roots in consumer finance and commercial banking. Today, it is one of the leading full range property developers through its real state subsidiaries, and has interest in the sugar industry through Pacific Sugar. EastWest Bank draws financial strength and synergy from various companies under the umbrella of the Filinvest Group.
EastWest Bank is a domestic corporation registered with the Securities and Exchange Commission (SEC) on March 22, 1994. Through its network of 77 branches, the bank provides a wide range of financial services to consumer and corporate clients. The bank's principal banking products and services include deposite taking, loan and trade finance, treasury, trust services, cash management and custodial services. Its principal place of business is at the 20th floor of PBCom Tower, 6795 Ayala Avenue corner V.A Rufino Street, Makati City.
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MESSAGE FROM THE CHAIRMAN:
"A bank built to last in a challenging business environment, the success of our business will rely on a continuing focus to implement organizational transformation." - Jonathan Gotianun : Chairman
Growth amid growing uncertainties characterized the financial year just passed.
In yet another show of resiliency, the Philippine economy turned in an exceptional performance in 2007, growing 7.3% in gross domestic product (GDP) - its strongest since 1976. The robust growth came amid lingering uncertainties over the weakness of the US economy as a result of the sub-prime market crisis, and the continued volatility of oil prices worldwide.
At best, 2007 could be described as a year when stellar growth sparked more cautious optimism instead of confidence in our economy's solid foundation. Expectedly in a world that gets flatter and money is more footloose, no longer is a nation an island unto itself.
The irony remains that the Philippine economy's natural safety vest against the choppy waters of globalization were the ever-reliable overseas Filipino workers. Our OFWs remitted an all-time high of US$12.8 billion in 2007.
Strong remittance flows, coupled with low interest rates, triggered consumer spending, which grew by 6% year-on-year. Public consumption expanded by nearly 12% in 2007, spurred by pre-election spending in the early part of the year and stepped-up infrastructure spending. Government emphasis on rural infrastructure, mainly in farm-to-market roads, in turn boosted agricultural production by 5.1%. Quick-response programs to mitigate the negative effects of weather disturbances also aided the growth.
The services sector, which accounted for more than half of the GDP, soared 8.4% on the back of higher tourism receipts and the phenomenal growth in business process outsourcing (BPO).
The steadfast determination of EastWest and our employees were key in meeting the growing demands on our business and of our customers, while facing the global market volatility in 2007. This determination is reflected in the bank's financial results for the fiscal year ending December 31, 2007.
The bank ended the period with a net income of 137 million, 8% higher than 2006. We intend to extend this record of profitability in the succeeding years, in line with our five-year strategic plan to achieve a sustained period of success in exceeding our financial targets.
To remain successful, the board recognizes that the bank must undergo a speedy transformation to improve delivery services across all channels and continue to deliver real value to all our customers - businesses and consumers alike.
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MESSAGE FROM THE CHAIRMAN:
To meet customer needs in the future and build a strong and profitable EastWest Bank - both the board and management agree that we must be prepared to make significant investments in technology and infrastructure as well as in our employees. In 2007, management started making these investments and continued on its journey towards a better EastWest Bank. We have adopted a new corporate slogan - A Passion for Service. Simpler. Faster. Better. - to nurture the service culture that will shape our destiny as a bank built to last.
While our pursuit of profitability will be more vigorous, it is also clear that 2008 would be equally challenging as 2007, if not more so. The threats of greater global economic volatility and the surging prices of food and fuel could make our journey more difficult than last year. Continued improvements in operational efficiency are needed if the bank is to overcome the inevitable profit declines an economic slowdown would bring. We must continue our evolution into a dynamic, forward-thinking organization if we are to prevail over these new and ongoing challenges.
As your chairman, I am aware that this is a challenging time, but also an exciting moment in our corporate history to test the mettle of the bank and our employees. I am convinced that we have a committed board and management team, a cadre of dedicated employees, and a flock of loyal customers and shareholders to continue the success we have so far achieved in our five-year growth path. Together, we will continue to build the solid foundation we need. The board is committed to working with you to transform EastWest Bank into an organization prepared and able to meet the needs of our clients, today and tomorrow.
JONATHAN T. GOTIANUN - Chairman
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STRAIGHT FROM THE TOP: An Interview with the President
Only a year into EastWest Bank's five-year strategic growth plan, president and CEO Tony Moncupa Jr. isa already brimming with optimism and excitement. In this interview, he reveals how the medium-sized bank is gaining significant strides in its transformation and why EastWest Bank will be among the banks that will remain standing "when the smoke of competition clears and the expected banking consolidation happens."
How did EastWest Bank perform in 2007? What would you consider as 'milestone'?
I would say we did fairly well in 2007. Recurring income base - that is after taking away one-time and volatile income components - was around P200 million better than in 2006. Our branches were successful in restructuring our deposit base such that there was a 24% increase in deposits and a 16% reduction in deposit interest costs.
Our credit cardholder base doubled. We also posted the biggest increase in our mortgage portfolio. We are about to complete some key hires, and we agreed with our service providers for a major upgrade of our information technology infrastructure.
Our stockholders have clearly shown commitment to see the bank grow and prosper by putting in P1.5 billion in fresh capital. The organization is starting to gel and, by and large, I believe we are gaining more confidence in our ability to face uo to the challenges of a very competitive industry.
Admittedly, there are still issue to be resolved but we have set in motion the major initiatives and we are looking forward to a good platform to complete more effectively.
What would make you say 2007 was the year EastWest Bank started making headways?
In any collective undertaking, the most important aspect is the people, This is why, first and foremost, I would be able to tell whether or not we are making headways by gauging the trajectory of the organizational spirit. I believe it's trending towards a steep upward sloping curve.
While the different units are in various points in the curve and the development is still unequal, the successful units are showing what can be possibly achieved. I sure hope this would inspire the units that are lagging behind to strive harder and catch up with their peers. Overall, the bank's steady growth should demonstrate the innate capacity of the organization.
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How is the bank faring so far in your five-year plan?
It is still a fighthing target. Admittedly, we have set very ambitious targets. For instance, we have set a 30% compounded annual growth target and an 81% compounded annual increase in net income. These figures obviously will only come from more business volume, better efficiencies, higher level of customer service, and above all, a competent and well-motivated workforce.
We are not there yet but we are making progress. If 2007 is any indication, we should be on the path of growth and profitability.
Your plans entail heavy investments in manpower training? sprucing up the branches, in automation and infrastructure, among other things. How would EastWest Bank compete, especially during these hard economic times when the cost of doing business is skyrocketing?
The world is not lacking in examples of how seemingly underdog organizations are able to win amid the biggest battles. history is replete with stories of smaller armies beating bigger ones, poor and impoverished people beating the superpowers. The thing is to compete with a big heart and with the resoluteness of spirit.
We have to find the space where we could excel, or engage in activities where being a medium-sized bank will not be a disadvantage. Businesses like securities distribution and the vast possibilities in retail credit like credit cards, mortgage, auto, and personal loans are democratized battlegrounds. We are as good as anyone else and we will be there to fight.
We should also exploit the natural advantages inherent in smaller organizations, i.e., flexibility and agility. It will be much easier for us to reorient and re-culture the organization than bigger banks. We believe that the present banking realities of much lower spreads and stiffer competition, and more efficient financial narkets (read: no more humongous trading profits) call for a serious reorientation and re-culturing. And the industry will move towards that.
We are cautiously optimistic on the short end and bullish in the long term on lending. We are building our corporate and retail loans organization. At this point, we have much leeway to cherry-pick the accounts compatible with our target portfolio and risk appetite. We are only targeting a few billions and the market is huge enough even with the threat of inflation and the economy being in the down side of the business cycle.
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When the reorientation towards efficiency, innovation, or service orientation is largely done, size will greatly matter. We foresee that will take some time to happen - time enough for us to be ready. And we are preparing for that eventuality through our growth objectives. We will not be among the biggest but we will have the scale and be big enough when that time comes. We intend to remain standing when the smoke of competition clears and the expected banking consolidation happens.
Will the new economic environment of rising cost of business call for an adjustment in the bank's five-year plan?
What we have is a rolling five-year plan; one year is fixed and the next four years subject to review and adjustment as the situation unfolds. As it stands now, we are on track. We plan a major push in commercial lending, transactional deposits, retail credit, and distribution businesses.
Recognizing that our rather ambitious plans entail risks, we are also very much aware that our risk management practices and internal control units like audit, accounting, risk management, and transaction processing must keep pace. Our growth objectives are premised on the development of our risk and internal control processes. Otherwise, we will temper our growth plans if we are not able to put the control mechanism in place.
How was the bank able to increase its deposit levels while at the same time keep the interest paid on these deposits down?
Our Branch Banking Group has proven itself very capable and we are very proud of them. Corny as it may sound but it is really about the right people and the culture that follows. They have the right processes, skills, and frame of mind. In the end, our branch banking leadership has been successful in capturing the imagination of our branch personnel and make them believe in their inherent capabilities.
What are the prospects for the bank's corporate lending business considering that rising inflation and interest rates may dampen business sentiment?
We intend to build our loan portfolio inspite of the threat of rising inflation and uncertain global economic outlook.
We don't think this will be the worst of times. After seeing the effects of the moratorium of the early 80's, the political turbulence during the immediate post-Marcos years, and the Southeast Asian currency crises of the late 90s, the present situation should not daunt us. Further, we could observe that monetary policy practice and the local financial markets have also greatly matured such that the extreme volatility from the past crises is not expected to happen in the same degree.
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What will EastWest Bank do to differentiate itself from its competitors in terms of service excellence?
We will exploit our size and implement customer service programs faster to differentiate ourselves. There is really no secret in all these; it is a matter of who could execute simpler, faster, and better. It is defining what the customer deems important, developing the infrastructure and capability, and guiding our people to deliver consistently through service standards at every point of customer contact. Given our size, it will be relatively much easier to define and execute differentiating strategies than our larger competitors.
What will be your top priorities in the coming years?
Top priority will always be people. We have to fine-tune the organization, ensure everybody is carrying their weight, put in place appropriate performance standards and rewards and even disincentive mechanisms, equip every Eastwestbanker with the required knowledge and skills through training, and instill our organizational values by clarifying its translation into the desired behavior. Of course, all these are textbook prescriptions. Nevertheless, we sincerely believe in its importance. we hold to be valid the old-fashion truism that the right people will do the right things.
The other top priority will be our service and risk management infrastructure, including information technology, and the expansion of our branch offices. These will take some time to complete considering that we are doing a major upgrade of our core banking system, installing a new general ledger, MIS and risk management systems. We also plan to put up at least 10 new branches a year until we hit our initial target of having 120 branches.
And with the right people and support and service infrastructure, business development should follow. Again, as we say, the right people with the adequate support will know what to do and how to execute effectively.
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REVIEW OF OPERATIONS
With our new corporate slogan "A Passion for Service," we have set a clear goal. We want our customers - from the seasoned professionals to the novice investors - to rely on Eastwest Bank for all their financial services, information, tools and products. We want to be their preferred friendly partner in all their financial needs. Online as well as in face-to-face interactions, we want to be a bank that puts customer service at the heart of our organization.
In light of this goal, we made significant strides in the past year and vigorously pursued our five-year strategic plan. The seeds we planted some years back to decisively revitalize and transform EastWest Bank into a customer-driven competitive organization had started to sprout.
2007 was a year of good harvest. Despite the strong winds of change ushered in by the shift to Base II standards in computing for capital adequacy and the new accounting standards, EastWest Bank managed to rank as the second fastest-growing bank, with total resources of P38.05 billion or 26% higher than in 2006.
We actually grew by 48.5% if we reckon the last 15 months ending December 31, 2007 when we started redefining our growth path.
We saw dramatic improvements in our net interest income (NII) and fee-based income as an offshoot of our balance sheet growth. NII rose by 46% to P1.368 billion from P939 million in 2006, while our fees, excluding trading, jumped 103% to P529 million.
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Net income was P137 million, 8% higher than 2006. However, core earnings, excluding the volatile trading income and some one-off income and expenses, climbed by more than P220 million.
On the other hand, interest income grew 16% to almost P2.5 billion largely as a result of a 133% increase in credit card receivables as our cardholder base expanded 108% to 125,000. Interest income on these receivables tripled to P302 million. Our mortgage loans also increased by 41% to P3.1 billion.
We would not have successfully attained our goals on the first year of our five-year strategic plan if we did not invest in the future. In 2007, we infused fresh talent and filled up vacancies. We added four new branches to boost our nationwide network to 76. We implemented salary adjustments and a branch incentive program that resulted in a P150-million increase in manpower-related expenses. We also renovated our branches and premises and strengthened our information technology infrastructure. All these scaling-up initiatives translated to a P339 - million increase in our operating expenses in 2007.
By early 2008, we will be able to complete the manpower buildup in our corporate banking division, tripling the number of our loan officers. We expect this investment translating to a substantial increase in our corporate lending, which grew 11% in 2007 but mostly in the last quarter.
With a more solid ground to stand on, expect EastWest Bank's transformation story to unfold in the coming years, leading to a more sustainable journey of growth.
| 2007 | 2006 | 2005 | |
|---|---|---|---|
| Net Interest Income (in million PhP) | 1,368 | 939 | 945 |
| Other Income (in million PhP) | 548 | 521 | 513 |
| Net Income (in million PhP) | 137 | 127 | 202 |
| Diluted Earnings per Share (inPhP) | 7.00 | 4.54 | 8.39 |
| Total Resources (in million PhP) | 38,055 | 30,303 | 24,829 |
| Net Loan Portfolio (in million PhP) | 17,856 | 14,608 | 12,201 |
| Investment Portfolio (in million PhP) | 4,609 | 4,529 | 5,673 |
| Total Deposits (in million PhP) | 31,274 | 25,219 | 21,200 |
| Stockholders Equity (in million PhP) | 4,123 | 2,881 | 2,944 |
| Number of Branches | 76 | 72 | 70 |
| Total Number of Employees | 1,378 | 1,167 | 1,047 |
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CUSTOMER FOCUS
We strive to make every customer interaction as convenient and as rewarding as possible.
We want to be the bank of choice for our customers' lifetime financial security needs and help them achieve financial peace of mind. A firm commitment to customer focus is one of the key ingredients to meeting these goals.
Customer focus means anticipating, assessing and understanding our customers' needs, and providing the solutions to meet those needs. We thus place a high priority on establishing a strong customer relationship through our branch and online presence. This way we can ensure that the solutions we provide and recommend are the right ones for our customers who entrust their finances with us.
At EastWest Bank, service is our passion. We strive to make every customer interaction as convenient and as rewarding as possible. Our brand objective is to be top of mind when it comes to simplifying even the most complex financial processes for our customers and delivering fast and efficient service.
In 2007, we have started articulating this by embracing our new corporate slogan, A Passion for Service. Simpler. Faster. Better. This dovetails our vision to become a world-class bank anchored on service excellence in our chosen markets.
In making this corporate slogan leap from paper to reality, we continued planting the seeds toward achieving a world-class service culture in 2007.
We introduced telephone service standards and check compliance through a Mystery Caller Program. This is aimed at enhancements in customer service relations, particularly in observing basic telephone courtesy, proper phone greeting, and knowledge of unit functions.
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The bank also conducted several Quality Service Management and Service Mileage Workshops in 2007 in step with its goal to strengthen employees' customer service skills and develop a service culture within the organization.
To make possible the efficient delivery of products and services, the bank also aggressively recruited the best talents in the banking industry. By end-2007, EastWest Bank boosted its talent pool by more than 400 employees, bringing its total workforce to close 1,400.
We also brought the EastWest Bank experience closer to our customers through our 77 branches nationwide - 50 in Metro Manila and 27 in key provincial areas. More branches are set to be opened this year to bring our products and services closer to the community.
As we pursue our passion to succeed in this arena and further become a service-oriented organization, we will continue to undergo a comprehensive training program for all our employees and review our human resources policies. This should make the bank more responsive and consistent with the growth path we have charted.
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PRODUCTS & SERVICES
EastWest Bank believes its continued growth depends on maintaining its brand value. We do this by safeguarding the world-class quality and competitiveness of our products and services,as well as by offering our customers genuinely valuable innovations.
True to this pioneering spirit, we introduced in 2007 a Check Imaging Facility that allows our customers to view online the checks they issued. Net Access account holders can now access the scanned images of the front and backsides of their checks a week after clearing. This online innovation is an industry first, and enables hassle-free reconciliation of accounts and the convenience of easier record maintenance and storage. Account holders can also archieve their bank statements for up to 12 months, not only saving them from the bulky storage of printed statements, but also helping save the environment, as the system is paperless.
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Transfer of funds, monitoring of statements and payment of bills are made more convenient with Net Access. Harnessing the power of technology, EastWest Bank also became the first in the industry to provide housing loan applicants indicative approval of their applications via an internet loan application process. This brings our customers, not only the convenience of online banking, but also the speed of service that is becoming the trademark of the EastWest Bank experience.
The bank also launched the Cool Savers Account, a non-term deposit account that provides personal accident insurance coverage and gift prizes for depositors ages 18 years old and below.
The insurance coverage will be five times the initial deposit and insures the child and the parents/legal guardians.
Our corporate purpose is to meet the financial needs of Filipinos everywhere - making life more rewarding and enriching for those who use our products and avail of our services. Through these product and service innovations, we will continue to drive growth and meet the demands of the future.
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RISK MANAGEMENT
We define risk as the occurrence of an event - either expected or unanticipated - that may have an adverse impact on the bank's operational and/or financial performance, leading to a possible loss in capital or earnings.
We regard risk management as a continuous process of identifying, analyzing, measuring, managing, communicating and evaluating risks. It is a bank-wide endeavor where all units are expected to share in the responsibility.
Our Risk Philosophy
As we continuously strive to aggressively increase our market share in the industry and, inevitably increasing our risk-taking activities, we recognize the imperative importance of having a pervasive risk management discipline to evolve, at pace with this objective, throughout the organization. With this discipline, we aim to create full awareness and consciousness of the risk-reward relationship.
Our risk philosophy is centered on the acceptance and consideration of risk as a financial variable in each and every aspect of our activities and operations. Based on this philosophy, we establish a risk culture, practiced and observed in the entire organization. The process is the prime responsibility of the bank's Board of Directors and is spearheaded by the President and Chief Executive Officer, and the Chief Risk Officer (CRO). They establish the risk culture and the risk management organization, and incorporate the risk process as an essential part of the strategic initiatives of the bank.
The Risk Management Committee (RMC) establishes the bank's risk culture and sets the tone for all institutional risk-related activities. With the support of senior management, RMC ensures that risk policies are clearly formulated and well disseminated within the bank.
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At the transaction and portfolio levels, we look at specifics, i.e., the risk concepts, trading tools, analytical models, statistical methodologies, historical studies and market analysis. All these are requisites of a coherent risk management system.
These stages constitute the essence of our risk management process. It involves establishing our core competencies in recognizing, dimensioning, assessing, limiting, assuming, managing, contolling, and monitoring risks. It starts with risk identification covering the entire spectrum of risk-sensitive positions and ends with assessing the risk-taking activities through performance metrics, which serve as rational basis for our future initiatives.
Risk Functional Organization
The implementation of our risk management process involves a top-down approach that starts with the Board of Directors. Our directors, through the Board-level Risk Management Committee (RMC), are actively involved in planning, approving, reviewing, and assessing all risks confronted by the bank.
In the performance of RMC's functions, it has the full backing of various board and management working committees. For credit-related risks, the Executive Committee (ExCom), with the support of the Loan andInvestments Committee (LoanCom), provides essential inputs and advice, particularly on credit and investment policy matters. When it comes to market risks, the RMC obtains policy inputs and advice from the Asset-Liability Management Committee (ALCO), another management working committee within the bank. Operational risk matters, on the other hand, are taken from the Senior Management Committee (Sr. ManCom). All these policy inputs and advices are channeled through the Risk Management Division (RMD), which directly reports to the RMC.
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Internal Audit Division, reporting directly to the Audit Committee, is tasked with monitoring our internal management control processes and providing an independent assessment of our systems to ensure that integrity is maintained. The Compliance Department, who reports to the Corporate Governance Committee, for its part, is tasked with monitoring and assessing compliance with the bank's various units with banking rules and regulations. It is also tasked with the proper dissemination of these rules and regulations within the bank.
Management Committee, and approved by the Board of Directors. The tools used to effectively manage market risk are as follows: Periodic Mark to Market; VAR Limit; Stop Loss Limit; Loss Alert; Nominal Position Limit; and Stress Test. Risk Management Division (RMD) primarily assists the RMC in its various risk management tasks and responsibilities. It performs an independent regulatory function within the bank. RMD is tasked with the creation and oversight of the bank's overall risk policy. It ensures that all significant risks from the bank's trading, position taking, lending, deposit taking, and other business activities are identified, measured, and managed. It is responsible for recommending a system of risk limits, including credit, market, liquidity, and trading limits, to the ExCom for approval.
Under the RMD are three major departments to cover each of the major risk areas of the bank, i.e. Market Risk, Credit Risk and Operational Risk.
Recognizing risk management as an integral element of capital management, we continue to refine our risk assessment principles and processes by evaluating suitable measures for monitoring performance versus credit, market and operational risk parameters. We are gearing up for the implementation of a Base II-compliant enterprise-wide risk management system.
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CORPORATE GOVERNANCE
EastWest Bank has always aspired towards the highest standards of governance.
The primary role of our Board of Directors is to oversee how management serves the interests of our shareholders and the general banking public. To do this, our directors have adopted corporate governance principles to ensure that the board is independent and fully informed of the key risks and strategic issues facing our organization.
The board held 14 meetings in 2007, attended by all of the directors. The board focuses on areas important to shareholders - strategy, risk management, and people - and, in 2007, received briefings on a variety of issues including: controllership and risk management, compliance and litigation trends, tax policies, risk management, acquisitions and dispositions, global trends, the reshaping and broadening of EastWest Bank's businesses, and organizational transformation.
The Audit Committee, composed of 3 directors, held 8 meetings in 2007 to oversee our financial reporting activities, the activities and independence of our external auditors, and the organization and activities of our internal audit staff. It also reviewed our progress in meeting the internal control requirements and compliance with key policies and applicable laws.
The Compensation Committee, comprised of 5 directors, held 1 meeting to approve executive compensation actions for our executive officers, and review plans, policies and practices, changes in executive assignments and responsibilities, and key succession plans. The Corporate Governance Committee, comprised of 3 directors, met three times to consider the bank's governance charter and practices, and director nominations.
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BOARD of DIRECTORS
Our Board of Directors adheres to the highest standards in corporate governance and recognizes its significant role in preserving public trust.
Andrew L. GOTIANUN, Sr.
Chairman Emeritus
Jonathan T. GOTIANUN
Chairman
Lourdes Josephine T. GOTIANUN-YAP
Director
Mercedes T. GOTIANUN
Director
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Antonio C. MONCUPA, Jr.
President and Chief Executive Officer
Carlos R. ALINDADA
Director
Jose S. SANDEJAS
Director
Atty. Cirilo T. TOLOSA
Director
Atty. Benedicto M. VALERIO, Jr.
Corporate Secretary
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Alex G. ILAGAN
Senior Vice President, Retail Credit Group
Celso Bernard G. LOPEZ
Senior Vice President, Distribution Group
Horacio E. CEBRERO III
Executive Vice President, Treasury Group
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Gerardo SUSMERANO
Executive Vice President, Retail Banking Group
Martin B. ORDONEZ
First Vice President, Central Processing and Settlement Division
Karl G. REYES
First Vice President, Information Technology Group
Vicente P. ORTUOSTE
First Vice President, Corporate Banking Group
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SENIOR OFFICERS
Moncupa, Jr. Antonio, C.
President/ Chief Executive Officer
Cebrero III, Horacio E.
Group Head/ Treasury & Trust Group EVP
Susmerano, Gerardo
Head/ Branch Banking Group EVP
Ilagan, Alex G.
Group Head/ Retail Credit Group SVP
Lopez, Celso Bernard G.
Distinction Group Head/ Distribution Group SVP
Apolonio, Renato F.
Division Head/ Corporate Banking Division 4/ CBG FVP
De Leon, Roberto B.
Division Head/ Corporate Banking Division 2/ CBG FVP
Ordonez, Martin B.
Head/Central Processing & Settlement FVP
Ortuoste, Vicente P.
Group Head/ Corporate Banking Group FVP
Reyes, Karl G.
General Manager/ FITI FVP
Tantoco, Edgardo T.
Division Head/ Corporate Banking Division 1/ CBG
Uy, Ivy B.
Division Head/ Deputy Group FVP
Bondoc, Ma. Jennifer V.
Unit Head/ Retail Account Acquisition VP
Cabahug, Doli D.
Division Head/ Division 8 VP
Caliwan, Mary Jane D.
Division Head/ Division 2 VP
Delos Santos, Gaspar Antonio G.
Dean/ EastWest Academy VP
Fernandez, Jacqueline S.
Division Head/ Card Products Division VP
Diola, Yolanda V.
Special Project Officer VP
Isagon, Edgardo I.
Chief Compliance Officer VP
Littaua, Rosalie A.
Institutional and Corporate Sales Division/ Distribution Group
Ramos, Xavier C.
Marketing Head/ Auto Loans Marketing Credit Services Group VP
Rodriguez, Ben Valentino U.
Branch Head/ Grace Park VP
Sengia, Lilian S.
Division Head/ Retail Sales Distribution Group VP
Abesamis, Emmanuel L.
Division Head/ Division 1 SAVP
Tee, Lorita H.
Branch Head/ Soler Branch BBG SAVP
Zamora, Dennis Anthony B.
Department Head/ Card Operations Department SAVP
Ang, Grace N.
Division Head/ Strategic Management Division
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SENIOR OFFICERS
Arzaga, Liza P.
Branch Head/Ortigas Center AVP
Asuncion, Lolita R.
Branch Head/Ortigas Tektite AVP
Bautista, Banjo E.
Department Head/Network Management Department AVP
Brioso Jr., Atty. Amador F.
Department Head/Legal Services Department AVP
Cabanit, Ma. Angelica D.
Department Head/Treasury Transaction Processing and Settlement AVP
Cacho, Filomena A.
Division Head/Central Accounting Division AVP
Capili, Judy Grace L.
Division Head/Training & OD Division AVP
Chua, Paulina L.
Division Head/Division 3 AVP
Cruz, Reynato C.
Branch Head/Malabon Branch AVP
De Guzman, Antonio Basilio C.
Head/Treasury Department AVP
Dela Cruz, Efren O.
Department Head/Credit Department AVP
De Leon, Maribeth N.
Branch Head/Banawe AVP
De Lara, Alastair S.
Department Head/Card Sales Department, RCG AVP
Gabatin, Ma. Ester B.
Division Head/ Division 6 AVP
Geronimo, John Gil M.
Branch Head/Main, Ayala Branch AVP
Guzman, Ires C.
Division Head/Division 7 AVP
Ignacio, Jr. Felipe A.
Division Head/Internal Audit Division AVP
Jardiel, Rodney M.
Division Head/Division 9 AVP
Jaucian, Eufrocina B.
Branch Head/Intramuros AVP
Locsin Jr., Raul Raymund C.
Branch Head/Timog-Quezon Avenue AVP
Maraingan, Rey T.
Division Head/Corporate Banking Division 5/CBGAVP
Nonato, Herman L.
Division Head/Cash Management Division AVP
Pavon, Jocelyn T.
Division Head/Division 5 AVP
Sampang, Renato Z.
Division Head/Central Branch Operations Division
Tamayo, Aylwin H.P.
Division Head/Retail Credit Collection Division/RCG AVP
Trinidad, Josefina Anna D.
Division Head/HR-Recruitment and ComBen Division AVP
Tomboc, Juancho A.
Branch Head/Escolta Branch AVP
Tiongquico, Eric Noel D.
Department Head/Systems Development Department AVP
Yu, Eduardo G.
Department Head/ROPA Sales and Appraisal AVP
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LIST OF PRODUCTS AND SERVICES
Personal Banking
Regular Checking
ChequeMax
ChequeMax Rewards
Passbok Savings
Statement Savings
Dollar Savings
Dollar Time Deposit
Peso Time Deposit
Cool Savers Kiddie Account
Secured Future Fund
Home Suite Loan
Salary Loan Plus
Auto Loan
EastWest Bank MasterCard
Corporate Suite
PayrollAssist
ChequeDepot
BizChequeplus
ChequePrepare
Collet@Site
BillsCollect
PayrollAssistplus
Access Banking
ATM Access
Mobile Access
Net Access
Corporate/Commercial Banking
Revolving Promissory Note Line
Receivables Financing Line
Domestic/Import Letter of Credit/Trust Receipt Line
Domestic/Foreign Standby Letter of Credit
Export Advance Line/Packing Credit Line
Domestic/Foreign Bills Purchase Line
Specialized Lending Facilities
Loan Syndication
Short-Term Loans
Medium-Term Loans
Long-Term Loans
Back-to-Back Loans
Export Bills Purchase Line
Omnibus Line
Unit Investment Trust Fund
Peso Trust Maximizer UITF
Dollar Trust Maximizer UITF
Infinity Peso Money Market
Infinity Peso Long-Term Bond Fund
Infinity Dollar Long-Term Bond Fund
Treasury Products
Money Market Instruments
Peso & Other Currencies Fixed
Income Securities
Peso & Other Currencies Spot
& Forward Contracts
Other Services
Safety Deposit Boxes
Manager's Check
Gift Check
SSS Remittance
Western Union Money Transfer
Pay@Store
SSS-Edi net
Web Remittance