EastWest Recognized at International Finance Awards 2024 with 4 Major Banking Awards
Manila, Philippines – EastWest continues to make its mark internationally having been recognized with four major awards at the 2024 International Finance Awards. The bank was named Most Innovative Forex Broker and Best Priority Banking Experience, both in its second consecutive year, Best Emerging New Equity Fund Manager and Best Consumer Loan Experience Bank for its Personal Loans, once again solidifying its position as a leader in providing innovative financial solutions and excellent customer service.
The International Finance Awards, a global platform that acknowledges exceptional talent, leadership, and industry expertise, recognized EastWest for its ability to drive innovation and achieve meaningful results through forward-thinking strategies and high-impact financial services that meet evolving market needs.
Most Innovative Forex Broker
EastWest continues to lead in the foreign exchange market, having won the award for Most Innovative Forex Broker for the second consecutive year. This accolade highlights the bank’s ability to provide competitive rates and exceptional value to customers seeking efficient FX conversion solutions.
By maintaining buy-sell spreads that are better than competition, EastWest offers rates that can be up to 70% better than other banks’ average. This competitive pricing directly benefits clients, allowing them to maximize their funds when converting foreign currencies.
“We are honored to be recognized once again for our commitment to delivering excellent foreign exchange services. Our goal has always been to provide customers with unparalleled value, and this second consecutive award affirms our success in doing so,” said Mylene Subido, SVP and Head of Securities, Derivatives & FX Distribution and Sales.
EastWest continues to innovate in this area, with plans to further enhance its FX offerings through operational improvements and digitization initiatives, ensuring that clients enjoy seamless, cost-effective forex transactions.
Best Priority Banking Experience
EastWest was also recognized for delivering the Best Priority Banking Experience, also for the second consecutive year, more proof of its growing footprint and expanding services tailored to high-net-worth clients.
With the expansion of Priority Centers in key regions like Davao and Cebu, EastWest has successfully broadened its reach, offering more personalized relationship management to clients across the Philippines.
Key services such as the EastWest Priority Visa Infinite credit card, which provides access to Priority Pass lounges worldwide, and the Visa Platinum debit card, which offers waived ATM withdrawal fees both locally and abroad, have elevated the banking experience for Priority clients. Moreover, the launch of the EastWest Priority Lifestyle series gives clients exclusive access to lifestyle events, further enhancing their banking experience.
“Our success in growing our Priority Banking segment reflects our dedication to delivering world-class premium services and building long-lasting relationships with our clients,” remarked Richard Tamayo, SVP and Head of Wealth Management. “We are committed to continuously elevating the level of service and personalized attention that our clients deserve.”
With double-digit growth in assets under management (AUM) and a 42% three-year compound annual growth rate (CAGR) in net income before tax, EastWest’s Priority Banking business is poised for even greater success in the coming years.
Best Emerging New Equity Fund Manager
EastWest’s EWA High Dividend Yield Equity Fund has gained considerable traction in the market, earning recognition as the Best Emerging New Equity Fund Manager. This award reflects the bank’s ability to provide strong, consistent returns to its investors, surpassing competitors by over 400 basis points. The fund’s outstanding performance highlights EastWest’s commitment to exceeding investor expectations through a disciplined approach to fund management.
Best Consumer Loan Experience Bank
EastWest’s Personal Loan (PL) was also recognized as the Best Consumer Loan Experience Bank, a nod to the bank’s commitment to transforming the lives of its customers through its financing solutions.
The bank’s PL product stood out as a key pillar in providing affordable and accessible financing to Filipinos across the country. In 2023 alone, the bank saw a 78% increase in new Personal Loan bookings—a clear indication of EastWest’s aggressive acquisition strategy and customer-centric policies.
“Our goal has always been to make dreams a reality through Personal Loans,” shared Alastair De Lara, FVP and Personal Loan Business Head. “With competitive interest rates, flexible repayment terms, and higher than market loan amount, we are proud to be at the forefront of delivering an unparalleled customer experience.”
EastWest’s success in consumer lending can be attributed to its digital acquisition and score-based underwriting models, allowing the bank to extend loans efficiently while mitigating risks.
Looking Forward
With these awards, EastWest continues to celebrate its 30th Anniversary by cementing its position as a leader in the financial services sector. As the bank moves forward, it remains firm in its mission to go “Further For You” by providing innovative solutions that empower individuals and businesses alike, helping them achieve financial success.
For more information about EastWest and its products and services, please visit eastwestbanker.com
