EastWest Bank opens branch in San Pedro, Laguna. Set to cut the ribbon are San Pedro City mayor Calixto Cataquiz (second left) and EW president and CEO Antonio C. Moncupa, Jr. (extreme right). Assisting them are (from left) architect Jimmy R. Powers, EW executive vice president and head of Retail Banking and Operations Cluster Gerry Susmerano, Alita A. Mercado, Sherwin L. Mendiola, and EW San Pedro branch manager Maria Cristina Ty. EW opened the San Pedro location, their fourth in Laguna, in response to the city’s progressing needs for financial products and services.

EastWest Bank opens more branches in Laguna

EastWest Bank recently inaugurated its branch in San Pedro, its fourth branch in the province of Laguna.

San Pedro, now a component city of Laguna since 2013, is considered a key southern gateway into the National Capital Region. Besides being a popular suburban residential destination, the areas around San Pedro have long been known for its business consonance with the agricultural, tourism and manufacturing sectors. Of late, the city is enjoying success in its push to attract heavy investments from the semiconductor and electronics multinationals.

EastWest reported recently a healthy first quarter growth in its core business of loans and deposits, as evidenced by a 47.8 percent rise in corporate loans and 28.4 percent in consumer loans. Its total deposits stood at P122.9 billion, or a growth of 41.8% as compared to the same period last year, with low-cost deposits (CA/SA) growing by 50.5% on account of its expanded branch network.

EastWest is the 10th largest private domestic bank in terms of assets. It is also the fifth largest financial institution in terms of credit card receivables and one of the biggest in auto financing.

The bank currently has more than 330 branches nationwide, aside from the 47 branches of its subsidiary, EastWest Rural Bank. Earlier, the bank declared its combined network to reach 400 by end of 2014.

“We are happy to contribute to the economic progress of San Pedro through the relevant banking and financial solutions that we offer both to individuals and businesses,” EastWest EVP and Head of Retail Banking and Operations Cluster Gerry Susmerano said.