Corporate Profile

The Birth of EastWest Bank

Established on July 6, 1994, EastWest Bank was the first recipient of a commercial banking license after the central monetary authority liberalized banking in the mid-1990s. Its first branch was opened along Sen. Gil Puyat Avenue in Makati City on August 1, 1994.

Its name is the result of the bank’s desire to combine the traditional prudence, warmth and hospitality of the East and the efficiency and progressive-thinking of the West.

Since then, EastWest Bank has made its presence known in the banking industry through steady growth. The bank offered products and services via traditional and alternative delivery channels, and opened more branches to make banking accessible and convenient for its clients. It later introduced internet banking facility to expand delivery channels for its products and services.

EastWest is a subsidiary of the Filinvest Development Corporation (FDC), one of the country’s leading conglomerates, with interests in banking, real estate, hospitality and tourism, power generation and sugar.

Story of Unprecedented Growth

At the dawn of the new millennium, EastWest took advantage of acquisition opportunities.

The bank acquired Ecology Savings Bank, Inc. in August 2003 and became the sixth largest credit card issuer and one of the largest in auto financing when it acquired AIG PhilAm Savings Bank (AIGPASB) in 2009. Two years later, it further expanded its branch network when the bank acquired Green Bank of Caraga, Inc. in August 2011.

It was in November 2011 when EastWest received its universal banking license from the Bangko Sentral ng Pilipinas. The universal banking license allowed the bank to offer a wider range of financial products and services directed to serve the consumer and corporate middle-market market segments better.

2012 was a pivotal year as new strategic plans began to take shape. The bank became a publicly-listed bank through an initial public offering, raising around Php4.8 Billion in May 2012. The IPO was the first by a Philippine bank in eight years.

The year also marked another milestone with the acquisition of Finman Rural Bank, Inc. in June 2012. EastWest widened its footprint nationwide and made its banking operations more efficient. It was also during the year when EastWest moved to its current corporate offices in Bonifacio Global City in Taguig.

In 2012, EastWest also started to refer to its branches as stores which serve as one-stop-shops that satisfy the financial needs of customers with a complete line of financial products and services.

During this period, EastWest embarked on an aggressive store expansion program and opened more stores in an unprecedented pace, opening 22 in a single day and ending the year with 100 additional stores. This expansion program was not only to serve more customers nationwide but also to create more value for them. Aside from new store openings, it also launched its mobile ATM and boosted its ATM network.

A Renewed Brand

In 2011, EastWest Bank set out on a rebranding exercise. The current brandmark symbolizes renewal and fresh growth, and relationship between the bank and its customers. With a refreshed brand, EastWest set out to continue delivering its vision of becoming a world-class bank anchored on service excellence in its chosen markets.

The bank wants to be known for having an excellent brand of customer service, relevant products that meet the customer needs and having the most engaged and loyal customers and employees.

With steadfast commitment to make “Your Dream Our Focus,” EastWest continues to develop innovative products and services and alternative delivery channels that cater to the diverse and evolving needs of its clientele.

Fast Forward

Over a span of 20 years, EastWest emerged as one of the country’s fastest growing banks. It now has more than 400 stores in strategic locations nationwide, including those of its rural banking arm, EastWest Rural Bank.

The bank is poised to sustain its strong growth momentum with an expanded distribution reach. Throughout the years, EastWest continuously invested in building competencies of its people, further improving risk management and governance, and upgrading information technology infrastructure to enhance customer experience.

It is currently the 10th largest domestic bank in terms of assets, fifth biggest credit card issuer and one of the largest auto credit providers in the country today. Full steam ahead, the bank maintains its strategic focus on the consumer market, catering to mid-sized businesses and the consumer.

EastWest will continue to scale up in the years ahead to become a more relevant player and a force of positive change in the Philippine banking industry.

Awards

2016

Visa Growth Awards

  • Highest Debit Payment Volume Growth
  • Highest Prepaid Cards Growth

The Asian Banker Philippine Country Awards 2016
Best Consumer Finance Product - EastWest Personal Loans

2015

Visa Growth Awards

  • Highest Debit Payment Volume Growth
  • Highest Consumer Credit Cards Growth
  • Higher Consumer Credit Payment Growth

Asian Cards User Group
Best Growth Achievement Award - EastWest Credit Cards

2014

CEPI Asia Trailblazer Awards
Highly Commendable Prepaid Card for Asia Pacific - EastWest Travel Money

Asian Banking and Finance
Credit Card Initiative of the Year (Philippines)

2013

Visa Performance Awards - Philippines

  • Best Performer Visa Classic Payment Volume Growth
  • Best Performer Visa Classic Cards in Force Growth
  • Best Performer Visa Classic Transaction Number Growth
  • Best Performer Visa Debit Cards in Force Growth
  • Best Performer Visa Debit Transaction Number Growth
  • Best Performer Visa Debit Payment Volume Growth
  • 2013 Best Performer Visa Prepaid Transaction Number Growth
  • Visa Product Trailblazer (EastWest Travel Money)

2012

Global Banking and Finance Review
2012 Best Commercial Bank in the Philippines Award

 top