EastWest Q1 net income jumps 32% to P600M from P456M

East West Banking Corp, a subsidiary of Filinvest Development Corp of the Gotianum family, has reported a 32-percent increase in its net income in the first three months of the year because of strong recurring revenue base.

EastWest Chief Financial Officer Rene de Borja Jr said first quarter income went up to P600 million from P456 million and net revenues increased by 20 percent to P4.1 billion from P3.4 billion for the same period last year.