EastWest is a subsidiary of the Filinvest Development Corporation (FDC), one of the country’s leading conglomerates, with interests in banking, real estate, hospitality and tourism, power generation and sugar.
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More about EastWest Bank
EastWest Bank was established via a commercial banking license from the Bangko Sentral ng Pilipinas on July 6, 1994. It was established with the overall the vision of combining the Eastern region's prudence, warmth, and hospitality together with the efficiency and progressive-thinking of the Western Regions. It is the first recipient of the commercial banking license in the country after the central monetary authority developed the banking industry during the mid-1990s. EastWest is among the banks that are fully computerized, developing its online banking facilities rapidly over the last two decades. By 2003, its rapid growth provided the resources to merge with the former AIG Philam Savings Bank. The merger resulted in EastWest Bank becoming the sixth largest lender for housing, auto and credit cards in the country. In 2013, it also acquired the Green Bank, the largest rural bank in the Caraga region in terms of assets. Through this, it has acquired the banks that first participated under the Microenterprise Access to Banking Services (MABS), owing to the former Green Bank of Caraga was multi-awarded in the area of housing microfinance. It is also part of the Filinvest Development Corporation (FDC), which originally backed its establishment as the Filinvest Group of Companies. It is a conglomerate that also has ventures in real estate, tourism, hospitality, and power generation. It is also a part of BancNet, having joined in 1994 as an associate member, eventually acquiring full membership (and voting rights on the board) in 2008. It is also one of the aggressive banks in the credit card distribution arena in the country.