East West Bank (Philippines)
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| Public | |
| Traded as | : EW |
| Industry | Finance |
| Founded | Manila, Philippines (1994) |
| Founder | Andrew Gotianun |
| Headquarters | The Beaufort, 5th Avenue corner 23rd Street, Bonifacio Global City, Taguig City, Metro Manila, Philippines |
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Number of locations
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445 stores (including its subsidiaries as of end-2016) 580 ATMs (2016) |
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Key people
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| Services | Banking |
Php 5.1 billion ( 48%)(2017) |
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| Total assets | Php 314.9 billion (17%) (2017) |
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Number of employees
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6,664 (as of 2016) |
| Parent | Filinvest Group |
| Subsidiaries | EastWest Rural Bank, Inc. EastWest Ageas Life Insurance Corporation EastWest Insurance Brokerage, Inc. EastWest Leasing and Finance Corporation Quest Marketing and Integrated Services, Inc. Assurance Solutions Insurance Agency |
| Website | www |
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| Subsidiary | |
| Industry | Finance and Insurance |
| Founded |
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| Headquarters | Bajada, Davao City, Philippines |
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Number of locations
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76 stores (including extension offices (EO) and other banking offices (OBO) as of 2Q-2017) |
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Key people
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Elpidio F. Masbad III (President and CEO) |
| Products | Financial Services |
| Php 634 million (2016) |
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| Total assets | Php 22.6 billion (3Q-2017) |
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Number of employees
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1,000 |
| Parent | East West Banking Corporation |
| Website | www.eastwestruralbank.com |
EastWest Bank (: EW), more formally known as East West Banking Corporation, is the tenth largest privately owned domestic bank in the Philippines in terms of assets. It is a member of the Filinvest Group, one the largest conglomerates in the Philippines founded by the late tycoon Andrew Gotianun. Its headquarters is at The Beaufort, a condominium building by Filinvest in Bonifacio Global City.
EastWest Bank was created on July 6, 1994. It was on that date that the Bangko Sentral ng Pilipinas granted EastWest Bank its commercial banking license. Backed-up by the Filinvest Group of Companies, EastWest Bank opened to the public along Senator Gil Puyat Avenue, Makati on August 1, 1994. This was the comeback of the Gotianun's in the banking space after they sold the Insular Bank of Asia and America to PCIBank in 1986 (which was acquired by Equitable Bank forming Equitable PCI Bank which in turn was acquired by Banco De Oro in 2006) and Family Savings Bank to BPI (which was renamed BPI Family Savings Bank).
EastWest Bank has developed its online banking facilities and has embarked on a full computerization program for a more efficient system to deliver bank products and services.
In 2004, the Bank received the prestigious Best Website Award in the Banking and Finance category of the 7th Philippine Web Awards, the most coveted award in the field of web design.
In 2003, EastWest Bank has a network of 129 branches and 145 ATM terminals, this after the merger with the former AIG Philam Savings Bank. The merger resulted in EastWest Bank becoming the sixth largest lender for housing, auto and credit cards in the country. It has an aggressive expansion plan and it calls its branches stores.
EastWest Unibank joined the Philippine Stock Exchange on May 7, 2012. The bank was later on granted a universal banking license on July 31, 2012.
On October 31, 2013, EastWest Bank acquired Green Bank (also known as Green Bank of Caraga), the largest rural bank in the Caraga region in terms of assets. Based in Butuan, Green Bank has been serving the needs of mostly farmers, government and private employees, barangay officials, pensioners and small-scale businessmen. Through Green Bank’s strong branch network in the Visayas and Mindanao, EastWest is able to gain entry into the microfinance business.
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Wikipedia