East West Bank

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East West Banking Corporation
East West Bank logo
Type Private
Founded Manila, Philippines (1994)
Headquarters Makati City, Philippines
Key people
Andrew L. Gotianun, Chairman and CEO
Elrey T. Ramos, President and COO
Finance and Insurance
Financial Services
P34.1 million PHP (Red Arrow Down.png42%) (2004) [1]
unknown
www.eastwestbanker.com

East West Bank, more formally known as East West Banking Corporation and sometimes abbreviated as EWB, is a medium-sized commercial bank in the Philippines and the first commercial bank to be licensed in twenty years at the time of its licensing. Its headquarters is at the 20th and 21st floors of PBCom Tower, the tallest building in the Philippines and home to a rival commercial bank, the Philippine Bank of Communications.

Contents

History

East West Bank was born on July 6, 1994 as the Philippines' thirty-forth commercial bank. It was on that date that the Bangko Sentral ng Pilipinas granted East West Bank its commercial banking license, the first in twenty years. A month later, on August 1, East West Bank's doors opened to the public. It also became a member of BancNet in 1994.

In the midst of a booming economy in the 1990s, East West Bank grew rapidly. It was also during that time that the bank became innovative in its products. For example, it launched MyLife, a specialized Web portal for East West Bank customers, as part of its corporate philosophy of doing business, where the bank realigned itself to be closer to the customer.

In November of 2001, East West Bank moved to its present headquarters at the 20th and 21st floors of PBCom Tower, the tallest building in the Philippines and the headquarters of competitor Philippine Bank of Communications.

Subsidiaries and affiliates

East West Bank is a subsidiary of the Filinvest Group, and is a member of BancNet.

Competition

East West Bank competes with other commercial banks, such as International Exchange Bank and Export and Industry Bank. Quite ironically, the bank's headquarters is located in the headquarters of a competitor bank, that is, the Philippine Bank of Communications at PBCom Tower.

See also

External links

Citation

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