EastWest Bank's net income grew by 25 percent to P7.6 billion last year, driven by an expansion in its individual consumer client base, which now accounts for 82 percent — the highest among commercial banks in the country.

In a disclosure to the Philippine Stock Exchange on Thursday, EastWest Bank reported a 19 percent increase in net interest income, reaching P33.5 billion, following a 16 percent rise in consumer loans from 2023 levels.

The bank saw significant growth across its loan segments, with credit card loans up by 38 percent, personal and salary loans rising by 17 percent, and auto loans increasing by 5 percent, bringing total loans and receivables to P336 billion.

Non-interest income, driven by service fees and trading gains, surged by 20 percent to P8.9 billion.

The bank attributed these gains in part to its EasyWay mobile app, launched in August, which enables clients to track transactions, transfer funds, pay bills, and make purchases using virtual credit cards.

"Our strategic direction is clear — we are committed to scaling our consumer banking business, deepening customer relationships, and accelerating digital transformation," said EastWest Bank CEO Jerry Ngo.

Operating costs increased by 16 percent to P23.5 billion, a slower pace compared to the bank’s total revenue growth of 19 percent, which reached P42.4 billion.

Deposits grew by 8 percent to P385.4 billion, while total assets expanded by 13 percent to P523.7 billion.

As a result of its strong financial performance, EastWest Bank achieved a double-digit return on equity at 10.8 percent.