"We have no plans to put up an investment banking subsidiary at this time. We are looking to form a unit inside the Bank which will offer investment banking services. At this point though, we will continue to focus on commercial and retail banking. Our primary target markets remain to be mid-sized corporates and the consumer segments. The added capabilities from our unibank license will primarily be directed to serve these market segments better. Aside from the basic investment banking services like underwriting, arranging, and advisory, we are also looking into leasing,” EastWest President & CEO Antonio C. Moncupa, Jr. elaborated.
Earlier this year, EastWest successfully listed its shares at the Philippine Stock Exchange (PSE), the first bank to do so in eight years.
The Bank is aggressively expanding its branch network to better serve its clientele. Last February 13, 2012, EastWest posted another milestone when it simultaneously opened 22 branches. The Bank plans to open 100 branches this year, 75 of which are in restricted areas. By the middle of the year, it announced that it is acquiring the Pasig City-based Finman Rural Bank, Inc., barely a year after buying Green Bank, headquartered in Butuan City. EastWest currently has 154 branches.
EastWest opened its doors to the public on August 1, 1994. The Bank is a subsidiary of the Filinvest Development Corporation (FDC), the publicly listed holding company of the Filinvest Group that evolved from a consumer business founded by Andrew L. Gotianun, Sr. in 1955. FDC is one of the country’s premier conglomerates, with business interests in real estate, banking, sugar, hospitality and tourism, and power-generation. Through the years, EastWest Bank has successfully capitalized on the financial strength and synergy from the business organizations under the Filinvest Group.
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