EastWest Bank owners deny bank is for sale


Posted at Jun 22 2020 09:29 PM

MANILA - EastWest Bank's owners on Monday denied rumors that the bank is set to be acquired by another bank.

Filinvest Development Corp (FDC), which owns the controlling stake in EastWest, said it is neither in any discussion nor does it plan to discuss any potential sale of the bank.

FDC CEO Josephine Gotianun-Yap said EastWest Bank is one of the pillars of the company.

“We remain very positive with its consistent high performance and we believe it is well-positioned to continue to grow and sustain its track record of being among the most profitable listed universal banks in the industry,” said Gotianun-Yap.

“We are poised for another record year of profits,” said EastWest CEO Antonio Moncupa Jr.