Representing the Bank (L-R) were: Ms. Ivy Uy, EastWest Head of Branch Banking Group, and Ms. Jacqueline Fernandez, EastWest President.
EastWest has been named Mid-Sized Retail Bank of the Year (Philippines) at the 2025 Asian Banking & Finance (ABF) Retail Banking Awards—an honor that highlights the bank’s exceptional performance, customer-first strategy, and bold innovations in retail banking.
The award comes on the heels of EastWest’s most successful year to date. In 2024, the bank recorded an all-time high net income of Php 7.6 billion, capping off three decades of steady growth with a major milestone. At the heart of this success was the Branch Banking Group (BBG), which drove deeper customer engagement, streamlined operations, and expanded access to financial services across the country.
Putting people at the core
“Our goal has always been to make banking easier and more meaningful for Filipinos,” said EastWest President Jacqueline S. Fernandez. “This recognition reflects the trust of our clients and the commitment of our team to bring relevant solutions to every community we serve.”
From offering tailored services at the branch level to rolling out tech-driven features for modern banking, EastWest continued to evolve without losing sight of the people it serves.
Growth backed by strong, sustainable funding
In 2024, EastWest’s CASA (Current and Savings Account) deposits outpaced the industry’s 3.9 percent average growth. The bank maintained its position among the top three in low-cost funding for six straight quarters, boasting an 80 percent CASA-to-Term Deposit ratio and keeping its cost of funds below the 1.96 percent industry average.
This solid funding base supported not only growth but also cost-efficiency. EastWest’s cost-to-income ratio improved from 43 percent in 2023 to 41 percent in 2024, driven by stronger cross-selling of loans, insurance, and investment products. The introduction of SuperChecking, a bonus interest-earning checking account, also encouraged smarter money management among clients.
“We focused not just on growing numbers, but on deepening relationships,” said Ivy Uy, Head of the BBG. “Our strategy blends local insight with disciplined execution to deliver value that’s both immediate and lasting.”
Going digital without losing the human touch
Digital transformation was another key driver in EastWest’s success story. The bank’s EasyWay mobile app ended 2024 with an impressive 81 percent monthly active user rate and a near-perfect 4.8-star rating. New features like fund transfers, eForex, statement downloads, and Insta-Cash made everyday banking even more convenient.
Meanwhile, Komo—EastWest’s all-digital arm—kept pace with tech-savvy users by launching new capabilities such as EastWest Rural Bank (EWRB) account linking and a digital loan application platform tailored for DepEd teachers. Komo reached a 76 percent monthly active user rate, highlighting its growing relevance in the digital banking space.
Behind these advancements were in-house tools for customer relationship management and sales tracking, giving the bank a stronger foundation for engagement and loyalty.
A modern retail network that listens and adapts
By the end of 2024, EastWest had 389 stores nationwide—each redesigned to meet evolving customer behaviors and growing digital usage. More than just locations, these stores are local financial hubs equipped to offer personalized service while remaining aligned with the bank’s evolving brand.
EastWest’s two-pronged strategy—revitalizing its sales teams and optimizing branch operations—ensured that its physical network remained a crucial driver of customer satisfaction and deposit growth.
“Our frontliners and store leaders are the unsung heroes behind this win,” said Uy. “They show up every day with a passion to serve, whether it’s for a single transaction or long-term financial advice.”
Looking ahead: Empowering every Filipino
With this latest award, EastWest isn’t resting on its laurels. The bank is doubling down on investments in people, technology, and community-focused banking—staying true to its mission of making banking easy, inclusive, and empowering.
The ABF Retail Banking Awards spotlight the most innovative and impactful financial institutions across Asia. For EastWest, this recognition is more than a trophy—it’s a reaffirmation that a customer-first approach, backed by digital innovation and grounded in community, is the way forward.