EastWest Bank income up by 28 percent

The aggressive network expansion of EastWest Banking Corp. has driven its profit further during the first nine months of the year, even bringing the number of its branches closer to target.

EastWest reported to the local bourse on Wednesday that it recorded a net income of P1.7 billion for the first nine months of the year, 28 percent higher from 2012, which translates to a 12.6 percent and 1.8 percent in return on equity (ROE) and Return on Assets (ROA), respectively.