EastWest Bank continues its streak of global recognition, taking home four major honors at the 2024 International Finance Awards. The bank was named Most Innovative Forex Broker and Best Priority Banking Experience for the second consecutive year, alongside new titles for Best Emerging New Equity Fund Manager and Best Consumer Loan Experience Bank for its Personal Loans. These accolades reinforce EastWest’s reputation for innovation and excellence in delivering financial solutions and customer service.
The International Finance Awards, a global platform celebrating outstanding talent and industry leadership, recognized EastWest for its strategic innovation and ability to address evolving market demands with impactful financial services.
Most Innovative Forex Broker: Setting the Standard for Excellence
For the second year running, EastWest has been named Most Innovative Forex Broker, a testament to its leadership in the foreign exchange market. By offering competitive rates and enhanced value, the bank enables customers to optimize their funds during FX transactions.
EastWest’s buy-sell spreads are up to 70% better than the competition, directly benefiting clients with superior FX conversion rates.
“Receiving this award once again underscores our dedication to delivering unparalleled foreign exchange services,” shared Mylene Subido, SVP and Head of Securities, Derivatives & FX Distribution and Sales. “We aim to continuously improve and innovate for the benefit of our clients.”
The bank plans to further enhance its FX services with operational upgrades and digitization, ensuring a seamless and cost-effective customer experience.
Best Priority Banking Experience: Expanding Premium Services
EastWest also earned the title of Best Priority Banking Experience for the second consecutive year, highlighting its exceptional service for high-net-worth clients.
With the expansion of Priority Centers in key areas like Davao and Cebu, EastWest has broadened its reach, offering personalized wealth management services. Notable features for Priority clients include:
- EastWest Priority Visa Infinite Credit Card: Access to Priority Pass lounges worldwide.
- Visa Platinum Debit Card: Waived ATM withdrawal fees locally and internationally.
- Priority Lifestyle Series: Exclusive events tailored for premium clients.
“Our focus on personalized service and premium offerings has fueled significant growth in our Priority Banking segment,” said Richard Tamayo, SVP and Head of Wealth Management.
The Priority Banking business continues to thrive, with double-digit growth in assets under management and a 42% three-year compound annual growth rate (CAGR) in net income before tax.
Best Emerging New Equity Fund Manager: Consistent Market Performance
The EWA High Dividend Yield Equity Fund propelled EastWest to the title of Best Emerging New Equity Fund Manager. With a performance surpassing competitors by over 400 basis points, the fund showcases the bank’s disciplined and results-oriented approach to fund management, offering investors strong, reliable returns.
Best Consumer Loan Experience Bank: Transforming Lives
EastWest’s Personal Loans (PL) garnered recognition as the Best Consumer Loan Experience Bank, affirming its commitment to empowering Filipinos with accessible financing solutions.
In 2023, the bank achieved a 78% increase in new Personal Loan bookings, driven by competitive interest rates, flexible repayment terms, and higher loan amounts.
“Personal Loans are a cornerstone of our mission to make dreams achievable for Filipinos,” said Alastair De Lara, FVP and Personal Loan Business Head. “Through innovation and customer-centric policies, we continue to deliver an unparalleled loan experience.”
EastWest’s success in consumer lending stems from its advanced digital acquisition platforms and score-based underwriting models, ensuring efficiency and minimized risks.
Moving Forward: Celebrating 30 Years of Excellence
As EastWest celebrates its 30th anniversary, these awards solidify its position as a leader in financial services. Committed to its mission of going “Further For You,” the bank continues to deliver innovative solutions that empower individuals and businesses to achieve financial success.
For more information on EastWest’s products and services, visit eastwestbanker.com.
