Manila, Philippines  - EastWest has been named Mid-Sized Retail Bank of the Year (Philippines) at the prestigious Asian Banking & Finance (ABF) Retail Banking Awards 2025, in recognition of its consistent performance and customer-focused growth across its retail banking operations.

In 2024, EastWest achieved a record net income of Php 7.6 billion, the highest in its 30-year history. The Branch Banking Group (BBG), the cornerstone of the Bank’s consumer business, played a pivotal role in delivering this milestone through expanded customer reach, improved cost-efficiency, and enhanced service delivery.

“Our success is built on making banking easier and more relevant for everyday Filipinos,” said Jacqueline S. Fernandez, President of EastWest. “This award speaks to the strength of our retail model and our team’s focus on putting the customer first, whether through digital tools or services tailored to each community.”

 

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Representing the Bank (L-R) were: Ms. Ivy Uy, EastWest Head of Branch Banking Group, and Ms. Jacqueline Fernandez, EastWest President

 

Driving Growth Through Low-Cost Funding

EastWest’s CASA (Current and Savings Account) deposits rose higher in 2024 than the industry average of 3.9%. The Bank remained among the top three in low-cost funding for six consecutive quarters. With a CASA-to-Term Deposit ratio of 80% and cost of funds better than the industry average of 1.96%, the Bank continued to support growth through sustainable, efficient funding sources.

BBG also advanced cross-selling efforts across loans, insurance, and investments which contributed to a drop in the Bank’s direct cost-to-income ratio from 43% in 2023 to 41% in 2024. The launch of SuperChecking complemented this by bringing bonus interest-earning features to checking products, promoting financial wellness among clients.

“We set out to deepen relationships not just grow transactions,” said Ivy Uy, Head of the Branch Banking Group. “Through disciplined execution and strong local insight, we expanded our portfolio while staying relevant to communities we serve.”

A Digitally Enabled Retail Experience

In 2024, EastWest expanded its digital engagement through the EasyWay mobile app, which closed the year with an 81% monthly active user rate, and an average app store rating of 4.8. New features such as online fund transfers, eForex, CASA statement downloads, and Insta-Cash improved customer access and day-to-day convenience.

Meanwhile, Komo, EastWest’s fully digital banking arm, rolled out innovations including EWRB (EastWest Rural Bank) account linking and a digital loan application system for DepEd teachers. By year-end, Komo had a robust 76% monthly active user rate.

These digital advancements were supported by in-house tools for CRM and sales management, which helped enhance client engagement and retention strategies.

Elevating Store Networks and Client Experience

EastWest’s approach centers on a deep understanding of each community it serves. Stores are equipped to tailor services to local needs while upholding brand standards. By end-2024, EastWest operated 389 stores nationwide, guided by two strategic priorities: revitalizing its sales force and optimizing its retail network.

Upgrades to Store formats were designed to match evolving customer behaviors and increased digital engagement. These improvements supported strong deposit growth at Store level and contributed to higher customer satisfaction.

“This award is a nod to the hard work of our frontliners and EastWest Store leaders across the country,” said Uy. “Their passion to serve, whether through daily transactions or long-term financial guidance, has allowed us to grow meaningfully with our clients.”

Moving forward

As EastWest continues to invest in its people, digital platforms, and retail presence, the Bank remains focused on its core mission: making banking easy, accessible, and empowering for all Filipinos.

The ABF Retail Banking Awards recognize Asia’s top financial institutions for innovation, service, and impact. For EastWest, the recognition marks a meaningful close to a year shaped by growth efforts focused on making banking easier, more relevant to communities, and anchored on real customer needs.