EastWest receives its first Asian Banker Award. From left: Foo Boon Ping, Managing Editor of The Asian Banker; EastWest’s Allan Tumbaga, VP & Bank Marketing & Corp. Comm. Head; Alastair de Lara, VP & Unsecured Lending Sales Head; Efren dela Cruz, Jr., VP & Unsecured Credit Underwriting Head; and Jacqueline S. Fernandez, EVP & Consumer Lending Head; Markus Gnirck, partner & Co-Founder or Tryb; and Alex Medana, CEO of FinFabrik.

EastWest Banking Corporation (EastWest) was awarded ‘Best Consumer Finance Product’ for its innovative and versatile Personal Loans at The Asian Banker Philippine Country Awards 2016 last October 7 at the Shangri-la at the Fort in Bonifacio Global City.

“We are proud to receive for the first time this prestigious award, which is further evidence of our commitment to provide affordable, convenient, and accessible loans to give customers the financial flexibility for both necessities like tuition fee and home repair, as well as larger expenditures like dream weddings and vacations. This award also reinforces EastWest’s strong position in consumer lending,” said Jacqueline S. Fernandez, EastWest EVP and Consumer Lending Head.

EastWest’s Personal Loan portfolio is one of the drivers of the bank’s core recurring earnings. In the first half of 2016, the bank posted risk adjusted revenue growth of 42% for personal loans and increased its market share in the highly competitive personal loans business to 17%.

Organized by The Asian Banker, one of Asia’s leading consulting companies in financial services research, benchmarking and intelligence, The Asian Banker Philippine Country Awards 2016is renowned for its rigorous and transparent process in selecting outstanding financial institutions in retail banking. It was held in conjunction with the 2016 Philippine International Banking Convention, which covered presentations on key findings of the Asian Banker annual research and survey in the retail banking and technology innovation of Philippine banks benchmarked against international standards. This annual convention is considered as one of the important financial events in the country.