East West Banking Corporation , the Gotianun Group’s lender, doubled its first half earnings to P3.3 billion, or 117 percent higher, driven primarily by sustained momentum from its lending portfolio. In a disclosure to the Philippine Stock Exchange, the bank said its net revenues were 29 percent higher at P16.3 billion from the improvement in net interest income of 18 percent to P13.0 billion.
She added that, “While we have surpassed our pre-pandemic peak loan levels this quarter, the work is not complete as we focus on optimizing our balance sheet structure to unlock more value.”Meanwhile, operating expenses stood at P9.5 billion, growing by 16 percent, driven largely by manpower, IT and business-related expenses. The Bank continues to spend on people-focused programs as it prepares for its growth initiatives.
Source: News Formal (newsformal.com)
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