EastWest Bank Celebrates 30 Years of Excellence

EastWest Bank has been a trailblazer in the Philippine banking industry for three decades, celebrating 30 years of excellence.

The bank's journey began in 1994 with a pioneering spirit, introducing innovative products and services that catered to the evolving needs of its customers.

EastWest Bank's commitment to innovation has been a hallmark of its success, with a focus on digital banking that has revolutionized the way Filipinos manage their finances.

From its humble beginnings to its current status as one of the country's leading banks, EastWest Bank has consistently delivered on its promise of excellence, earning the trust of millions of customers nationwide.

EastWest Bank was created on August 14, 1988, when the Bangko Sentral ng Pilipinas granted it a commercial banking license.

The bank opened to the public along Senator Gil Puyat Avenue, Makati on August 1, 1994, backed up by the Filinvest Group of Companies.

EastWest Bank had a network of 129 branches and 145 ATM terminals in 2003, after merging with Ecology Savings Bank in 2002 and AIG Philam Savings Bank in 2009.

This merger made EastWest Bank the sixth largest lender for housing, auto, and credit cards in the country.

EastWest Unibank joined the Philippine Stock Exchange on May 7, 2012, and was later granted a universal banking license on July 31, 2012.

In 2023, East West, the US-based bank, celebrated its 50th anniversary and became the largest state-chartered bank in California, surpassing $68 billion in assets.

Intriguing read: List of Largest Banks in the Philippines

EastWest Bank launched its new Business Class segment to kick off its 30th Anniversary, a day of golfing, networking, and celebration that brought together business leaders and entrepreneurs from across the country.

The new Business Class segment is designed specifically for entrepreneurs and business owners, providing tailored financial solutions that allow them to focus on personal growth while the bank handles operational tasks.

Key features of EastWest Bank Business Class include dedicated relationship officers and 24/7 banking through the EastWest Easybiz App.

The event at Mimosa Plus Golf Course highlighted the strong interest and enthusiasm for EastWest’s innovative offerings and future initiatives.

EastWest continues to benefit from a robust support system that enhances its service offerings as a member of the Filinvest Group.

The bank's commitment to its clients remains firm, with a bright future ahead as it celebrates 30 years of innovation, excellence, and going further for its clients.

Komo was launched by EastWest Banking Corporation in 2020 as a digital banking arm.

EastWest was granted a license by the Bangko Sentral ng Pilipinas (BSP) to operate as a digital bank.

The license allowed EastWest to operate Komo under its wholly-owned subsidiary, EastWest Rural Bank, Inc.

Komo was given approval from the BSP to operate as a digital bank on May 8, 2020.

Suggestion: Firstbank Digital Banking

EastWest Bank's operations are designed to be efficient and convenient for its customers. The bank has a vast network of over 700 branches and over 3,000 ATMs across the country, making it easily accessible.

With its online banking platform, customers can manage their accounts, pay bills, and transfer funds from the comfort of their own homes. EastWest Bank also offers mobile banking services, allowing customers to access their accounts on-the-go.

EastWest Bank's operations are backed by a strong IT infrastructure, ensuring that all transactions are secure and processed quickly.

Rural banks are smaller in size compared to urban banks, with a limited number of branches and a smaller customer base.

They often have a more personalized approach, with a stronger relationship between the bank and the local community.

Rural banks typically have lower transaction volumes and a lower demand for advanced banking services.

This is reflected in their lower operating costs and simpler banking infrastructure.

Rural banks often have a more conservative lending approach, with a focus on providing loans to local farmers and small business owners.

They may also have a more limited range of financial products and services available to customers.

Here's an interesting read: Banks and Banking Services

To manage your money on-the-go, you can access a variety of premium banking products and services through the Velo by East West Bank Mobile App.

The app offers Global Checking, Global Student, Certificates of Deposit, Secured Credit Card, and more. You can send money to family and friends with Zelle right from the app.

To stay on top of your transfer and transaction activity, receive select account alerts in WeChat. This way, you'll always be in the know about your financial activity.

You can download the Velo by East West Bank Mobile App today to start managing your money on-the-go.

Additional reading: Bank of the West

EastWest Bank offers a range of services to cater to different customer needs.

Their eBanking facility allows customers to conduct banking transactions online, 24/7.

This includes paying bills, transferring funds, and checking account balances.

EastWest Bank also provides a mobile banking app, allowing customers to manage their accounts on-the-go.

In 2016, EastWest acquired the retail banking business of Standard Chartered Bank Philippines, which included credit cards, personal loans, wealth management, and retail deposits.

The acquisition transferred SCB PH's retail accounts, personnel, and branches to EastWest on November 27, 2016.

EastWest Bank has a strong foundation as a subsidiary of the Filinvest Development Corporation, a publicly listed company founded by Andrew Gotianun Sr. in 1955.

The Filinvest Group is a diverse conglomerate with businesses in various sectors, primarily operating through its majority-owned subsidiaries, Filinvest Alabang Inc. and Filinvest Land Inc.

EastWest Bank joined BancNet in 1994 as an Associate member, giving it access to the network's facilities and services without voting rights. In 2008, the bank acquired a shareholding in BancNet, earning it a Board seat as a full member bank.

EastWest Bank's subsidiaries include:

East West Bank has strong ties in the entertainment industry, facilitating co-productions and partnerships in the U.S. and China. This expertise makes them a financier for major Chinese studios wanting to collaborate with Hollywood.

Their cross-border expertise is key to helping Chinese studios enter the Hollywood market. They've become a trusted partner for these studios.

East West Bank has cultivated strong relationships in the entertainment industry, allowing them to facilitate partnerships between Chinese and Hollywood studios.

For another approach, see: Notable Chinese Banks

EastWest Bank is a reliable choice for your banking needs. With $69.6 billion in assets, it's a full-service commercial bank that's here to stay.

You can trust that your deposits are insured by the Federal Deposit Insurance Corporation (FDIC), giving you peace of mind.

EastWest Bank is also the largest independent bank headquartered in Southern California, a testament to its stability and growth.

Its customer service is available in multiple languages, including English, Mandarin, Cantonese, and Spanish, making it accessible to a wide range of customers.

The bank's products and services are tailored for customers in the U.S. and Greater China, making it a great choice for those with international connections.

Here are some key benefits of choosing EastWest Bank:

Its ranking as the No. 1 Performing Bank in the U.S. by Bank Director is a badge of honor that speaks to its financial stability and success.