East West Bank Focuses on Consumer Banking

East West Banking Corporation, a company belonging to the Filinvest Group, increased its resources to P29.9 billion as of the end of September 2006, up by more than 20% from the December 2005 figures.

In consonance with its corporate goal to be the preferred consumer bank of the middle market, the bank increased its consumer loans to P7.5 billion, equivalent to 54% of the total loan portfolio mix.

By the end of the third quarter, the bank's total deposits reached P24.7 billion, a 16.5% increase from the December 2005 level. With P152 million in net income by the end of September, it is most likely that the bank will surpass its net income of P202 million last year.