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September 22, 2023

EastWest Bank gets green light for P30 billion bond offering

East West Banking Corp. (EastWest Bank) has been granted approval by its board to issue bonds worth up to P30 billion over a five-year period.

This decision follows the bank’s strong financial performance, with its income doubling to P3.3 billion compared to the previous year, primarily driven by sustained momentum in its lending portfolio.

The bank intends to utilize the proceeds from the bond issuance to support asset growth, diversify funding sources, refinance maturing liabilities, and cover general funding needs.

EastWest Bank also reported a 29 percent increase in consolidated net revenues, reaching P16.3 billion, while net interest income expanded to P13 billion.


UnionBank gets BSP nod, becomes first and only PH universal bank to offer mobile crypto trading

Proving its status anew as an industry trailblazer, Union Bank of the Philippines (UnionBank) recently achieved another first in the industry after securing a Certificate of Authority from the Bangko Sentral ng Pilipinas (BSP) to operate as a virtual asset service provider (VASP), making it the first and only universal bank in the Philippines to offer virtual asset exchange services.

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Maya sweeps banking awards

Fintech firm Maya, a pioneer in digital banking in the Philippines, secures three prestigious awards, including Virtual Bank of the Year, reflecting its commitment to financial inclusion and innovation in the digital banking sector.

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HSBC Philippines CEO Sses bright future for the country

Sandeep Uppal, President and CEO of HSBC Philippines, sees a bright future for the country, citing its welcoming nature, rich history, and potential in sustainable finance and renewable energy investments, while emphasizing the importance of work-life balance and long-term career planning.

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