EastWest has been awarded the Mid-Sized Retail Bank of the Year (Philippines) at the 2025 Asian Banking & Finance (ABF) Retail Banking Awards in Manila, celebrated for its exceptional performance and customer-driven growth in retail banking. The recognition highlights the bank’s record net income of P7.6B in 2024 — its highest in 30 years — driven significantly by its Branch Banking Group (BBG).

“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.”

Robust financial performance

In 2024, EastWest’s CASA (Current and Savings Account) deposits grew faster than the industry average of 3.9 percent, maintaining the bank’s position among the top three in low-cost funding for six consecutive quarters. With a CASA-to-Term Deposit ratio of 80 percent and a cost of funds below the industry average of 1.96 percent, EastWest demonstrated efficient and sustainable funding strategies. The BBG’s focus on cross-selling loans, insurance, and investments reduced the direct cost-to-income ratio from 43 percent in 2023 to 41 percent in 2024. The introduction of SuperChecking, a checking product with bonus interest features, further promoted 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.”

Digital innovation and accessibility

EastWest enhanced its digital offerings through the EasyWay mobile app, which achieved an 81 percent monthly active user rate and a 4.8 average app store rating in 2024. New features, including online fund transfers, eForex, CASA statement downloads, and Insta-Cash, improved customer convenience. Komo, EastWest’s digital banking arm, introduced innovations like EWRB account linking and a digital loan application system for DepEd teachers, boasting a 76 percent monthly active user rate. In-house CRM and sales management tools further strengthened client engagement and retention.

Community-focused retail network

Operating 389 stores nationwide by the end of 2024, EastWest prioritized revitalizing its sales force and optimizing its retail network. Store upgrades aligned with evolving customer behaviors, supporting strong deposit growth and higher 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.”

Looking ahead

EastWest remains committed to making banking accessible and empowering for Filipinos through investments in its people, digital platforms, and retail presence. The ABF Retail Banking Awards, which honor Asia’s leading financial institutions for innovation and impact, mark a significant milestone for EastWest as it continues to prioritize customer-centric growth.