The Birth of EastWest Bank

Established on July 6, 1994, EastWest Bank was the first recipient of a commercial
banking license after the central monetary authority liberalized banking in the mid-
1990s. Its first branch was opened along Sen. Gil Puyat Avenue in Makati City on
August 1, 1994.

Its name is the result of the bank's desire to combine the traditional prudence,
warmth and hospitality of the East and the efficiency and progressive-thinking of
the West.

Since its founding in 1994, EastWest Bank has established itself as a prominent
player in the Philippine banking sector through steady growth and innovation.
Initially focusing on traditional banking services, the bank expanded its delivery
channels by introducing internet banking and opening new branches to enhance
accessibility and convenience for clients.
As a subsidiary of Filinvest Development Corporation (FDC), EastWest benefited
from the conglomerate's broad business interests, which include banking, real
estate, hospitality, and more. The bank capitalized on acquisition opportunities to
bolster its position, acquiring Ecology Savings Bank in 2003, AIG PhilAm Savings
Bank in 2009, and Green Bank of Caraga in 2011. These strategic moves
significantly expanded its market reach and service offerings.
A pivotal moment came in 2012 when EastWest Bank went public, raising
approximately PHP 4.8 billion. This year also saw the acquisition of Finman Rural
Bank, the approval to operate as a universal bank, and a rebranding effort that
emphasized renewal and growth. The bank’s expansion continued aggressively
through 2015, marked by rapid branch openings and enhancements in IT
infrastructure, including an upgrade to the Temenos T24 core banking system.
EastWest further diversified its services by venturing into insurance and financial
leasing. Notable achievements include the formation of EastWest Ageas Life
Insurance Corporation in 2016 and acquiring the retail banking business of Standard
Chartered Bank Philippines. This solidified its position as a leading credit card issuer.
With a refreshed brand identity launched in 2011, EastWest Bank aimed to enhance
customer service and maintain relevance through innovative products and services.
Today, the bank operates 490 stores nationwide, has 584 ATMs, and continues to be
a significant player in the credit card and auto loan markets.
EastWest Bank is recognized as the 10th largest privately-owned domestic bank in
terms of assets, the 5th largest credit card issuer, and the 4th largest auto loan
provider in the Philippines. Looking forward, the bank remains committed to
enhancing customer service and driving long-term value through continuous
innovation and investment.
BRIEF HISTORY
EastWest Bank has seen significant growth and evolution since its founding in
1994:
 Initial Growth: Started with traditional banking services and expanded
through new branches and internet banking.
 Acquisitions: Acquired Ecology Savings Bank (2003), AIG PhilAm Savings
Bank (2009), and Green Bank of Caraga (2011), enhancing its market
presence.
 Public Listing: Went public in 2012, raising PHP 4.8 billion, and acquired
Finman Rural Bank, becoming a universal bank.
 Rebranding and Expansion: Underwent a major rebranding in 2011, and
aggressively expanded its branch network through 2015.
 Diversification: Entered insurance and financial leasing sectors, acquiring
Standard Chartered Bank’s retail business and forming EastWest Ageas Life
Insurance Corporation.
 Current Status: Operates 490 stores nationwide, 584 ATMs, and is a leading
credit card issuer and auto loan provider in the Philippines. The bank
continues to focus on customer service excellence and innovation.

Nature of the business

EastWest Bank is a universal bank with a focus on both consumer and corporate
banking:
 Consumer Focus: Primarily serves individual customers, holding a
significant share in credit card issuance and auto loans.
 Corporate Banking: Also caters to medium-sized corporate clients, offering
tailored products to enhance market share.
 Branch and Digital Network: Operates 490 branches and 584 ATMs,
supported by comprehensive online and mobile banking services.
 Growth and Performance: Achieved a record income of PHP 6.5 billion in
2020 and aims to be among the top five banks in the Philippines.
 Continuous Improvement: Focuses on expanding its asset base, optimizing
its branch network, enhancing IT infrastructure, and improving customer
service.
EastWest Bank operates as a universal bank in the Philippines, offering a wide range
of financial products and services. Here’s a summary of its business nature:
**1. Retail Banking
 Deposit Accounts: Savings, checking, and time deposit accounts.
 Loans: Personal loans, home loans, and auto loans.
 Credit Cards: Issuance and management of credit cards.
**2. Corporate Banking
 Business Loans: Financing solutions for various business needs.
 Treasury Services: Foreign exchange, trade finance, and other financial
products for businesses.
**3. Investment Banking
 Advisory Services: Corporate finance and investment advisory services.
**4. Insurance and Bancassurance
 Insurance Products: Through its subsidiary, EastWest Insurance Brokerage,
Inc., and its joint venture, EastWest Ageas Life Insurance Corporation
(operating as Troo), the bank offers insurance products and services.
**5. Financial Leasing
 Leasing Services: Provides financial leasing solutions for equipment and
other capital assets.
**6. Digital and Online Banking
 Convenient Access: Offers online and mobile banking services, including
account management, transfers, and payments.
**7. Branch and ATM Network
 Branch Services: Operates a network of branches and ATMs across the
Philippines for in-person and automated banking services.
Overall, EastWest Bank combines traditional banking with modern financial services
and technology to cater to both individual and corporate clients.

EastWest Bank blends traditional Eastern values with Western efficiency, aiming to
excel in customer service and offer relevant products. As a universal bank with a
strong retail focus, it caters to consumers and mid-sized corporates, holding a
significant position in credit card issuance and auto loans in the Philippines.
With a network of 490 branches and 584 ATMs, EastWest also emphasizes robust
digital services through online and mobile banking. In 2020, the bank achieved a
record income of PHP 6.5 billion, underscoring its growth and ambition to become a
top-five player in the industry. The bank continually enhances its branch network,
delivery channels, and IT infrastructure to better serve its customers and strengthen
its market position.

EastWest Bank's Related Party Transaction (RPT) Policy ensures that transactions
with related parties are handled fairly and transparently:
 Fair Conduct: RPTs must be conducted at arm's length to prevent conflicts
of interest and manage risks.
 Approval Process: Material RPTs are reviewed by the RPT Committee and
approved by the Board of Directors. The review considers the transaction’s
nature and associated risks.
 Disclosure: Board members and management must disclose any financial
interests or potential conflicts related to RPTs, including relationships with
clients and vendors.
 Transparency: The Bank’s Annual Report and website will disclose policies,
procedures, and details of material RPTs, including terms and outstanding
balances.
This policy aims to protect the Bank and its stakeholders while ensuring compliance
with legal and regulatory standards.
- Related Party Transactions (RPT) Policy The Related Party Transaction (RPT)
policy of East West Bank aims to ensure that all RPTs are conducted at arm’s
length and managed in a manner that will protect the Bank, its depositors,
creditors and other stakeholders from conflicts of interest and possible
material risks arising from exposures to such transactions; and All RPTs are
appropriately reviewed, approved, ratified and disclosed as required in
compliance with legal and regulatory requirements. All material RPTs shall be
vetted by the RPT Committee, who in turns endorse the same to the Board for
approval. The materiality criteria takes into consideration the nature of the
transaction and the degree of risk associated with it and allows the Bank to
undertake RPTs in a timely manner while ensuring that the review mandate of
the RPT Committee shall be carried out judiciously and in accordance to the
Bank’s size, risk profile and risk management framework. Members of the
Board of Directors, Stockholders or Management of the Bank shall
immediately disclose to the Board of Directors if they or their close family
members directly, indirectly or on behalf of third parties, have a financial
interest or potential conflict of interest in any transaction, arrangement or
relationship affecting the Bank. The duty to disclose shall include disclosure
 of relationships with clients, prospects, service providers, suppliers and
vendors. The Bank shall ensure that its Annual Report and website
appropriately disclose the policies and procedures for managing RPTs,
including managing of conflicts of interest or potential conflicts of interest;
responsibilities of the RPT Committee; nature, terms and conditions of
material RPTs as well as their outstanding individual and aggregate balances.

EastWest Bank’s Conflict of Interest Policy ensures that Directors prioritize the
Bank’s interests and avoid situations where personal interests could compromise
their judgment:
 Disclosure: Directors must fully disclose any personal conflicts of interest or
situations that could impair their judgment or loyalty to the Bank.
 Reporting: Directors must report conflicts involving other Directors that
could affect their ability to perform their duties.
 Voting Restrictions: Directors with a conflict of interest must abstain from
voting and will not count toward quorum in relevant Board meetings.
 Removal: If a conflict is significant and ongoing, and impedes the Director’s
duties, the Bank may remove the Director from their position.
 Gift Acceptance: Directors must adhere to the Bank’s policy on accepting
gifts to avoid conflicts of interest.
 Approval Requirement: Transactions involving conflicts of interest require
prior Board approval.
- Conflict of Interest5 Directors must never allow themselves to be placed in a
position where their personal interests are in conflict (or could be in conflict)
with the interests or business of the Bank. They must avoid any situation or
activity that compromises, or may compromise, their judgment or ability to
act in the best interest of the Company. The Bank’s policy on Conflict of
Interest is stated as follows: a. It is the duty of a Director to fully disclose to
the Board of any conflict of interest or presumption thereof involving him/her
which could materially impair his/her judgment, exercise of duties and
responsibilities and loyalty to the Bank. b. It is the duty of a Director to report
to the Board any conflict of interest or presumption thereof involving a
Director which could materially impair the latter’s judgment, exercise of
duties and responsibilities and loyalty to the Bank. c. The director, who is in
conflict of interest, should not vote and be counted in determining the
existence of a quorum at the Board of Directors’ meeting at which the matter
is voted upon. d. If the conflict of interest is significant, ongoing and
competing with the Bank’s interest and if it impedes the ability of the director
to carry out his/her duties, the Bank has the right to remove the director from
his/her position. e. The Board of Directors shall be governed by the Bank’s
policy on acceptance of gifts to avoid conflict of interest contained in OMS
Personnel-10-000 Policy Manual. Any transaction with conflict of interest
requires prior approval of the members of the Board.