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EastWest Bank (PSE: EW, Hokkien Chinese: 東盛銀行; Pe̍h-ōe-jī: Tang-sēng Gûn-hâng; Mandarin simplified Chinese: 东盛银行; traditional Chinese: 東盛銀行; pinyin: Dōngshèng Yínháng), [12] formally known as East West Banking Corporation, is the eleventh largest bank in the Philippines in terms of assets. [13]
East West Bancorp is the parent company of East West Bank.It is a publicly owned company with over $70 billion in assets as of 2024. [1] [2] The company's wholly owned subsidiary, East West Bank, is the largest state-chartered bank in California as of 2023. [3]
In 1973, East West Federal Bank was founded as a federal savings and loan association, focused on serving the Chinese American community in Southern California. [12]In 1991, during the savings and loan crisis, the company acquired Pacific Coast Savings, [13] [14] [15] which increased the bank's assets from $600 million to $1 billion and expanded operations to San Francisco, California.
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