East West Banking Corporation (PSE: EW)

East West Banking Income Statement

Financials in millions PHP. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	34,123	29,841	22,410	21,102	28,004	27,243
Interest Income on Investments	5,273	4,721	3,710	2,151	2,706	2,515
Total Interest Income	39,396	34,561	26,120	23,252	30,710	29,758
Interest Paid on Deposits	6,047	5,231	2,262	1,768	3,561	6,799
Interest Paid on Borrowings	1,518	1,106	533.54	457.71	646.13	1,492
Total Interest Expense	7,565	6,337	2,795	2,226	4,207	8,291
Net Interest Income	31,830	28,225	23,325	21,027	26,503	21,467
Net Interest Income Growth (YoY)	25.70%	21.01%	10.93%	-20.66%	23.46%	11.36%
Trust Income	131.23	126.73	121.23	99.83	79.27	70.54
Income From Trading Activities	40.02	337.83	-395.64	-841.42	1,464	965.73
Gain (Loss) on Sale of Assets	297.47	183.08	105.35	-223.61	20.74	94.84
Gain (Loss) on Sale of Investments	-	-	-	1,850	3,675	-
Other Non-Interest Income	6,744	6,174	5,098	5,623	1,793	6,300
Total Non-Interest Income	7,828	7,436	4,919	5,984	6,880	7,231
Non-Interest Income Growth (YoY)	18.04%	51.16%	-17.79%	-13.03%	-4.85%	16.25%
Revenues Before Loan Losses	39,658	35,660	28,244	27,010	33,383	28,698
Provision for Loan Losses	9,274	7,672	4,937	4,149	9,834	4,042
Revenue	30,384	27,988	23,307	22,861	23,549	24,655
Revenue Growth (YoY)	15.87%	20.08%	1.95%	-2.92%	-4.49%	14.19%
Salaries and Employee Benefits	8,053	7,349	5,960	5,671	5,711	5,624
Occupancy Expenses	2,021	1,640	1,985	2,229	1,957	1,884
Amortization of Goodwill & Intangibles	209.94	199.65	181.43	168.3	186.28	146.68
Selling, General & Administrative	1,655	1,617	971.76	824.19	886.07	971.19
Other Non-Interest Expense	10,302	9,372	7,831	7,553	7,442	7,703
Total Non-Interest Expense	22,259	20,329	17,159	16,682	16,483	16,669
EBT Excluding Unusual Items	8,125	7,659	6,148	6,179	7,066	7,986
Asset Writedown	-15.99	-15.99	-13.4	-	-	-
Legal Settlements	-115.9	-115.9	-76.45	-73.71	-48.22	-75.78
Pretax Income	7,993	7,527	6,059	6,105	7,018	7,911
Income Tax Expense	1,724	1,444	1,433	1,590	510.16	1,669
Earnings From Continuing Operations	6,269	6,083	4,625	4,515	6,508	6,242
Net Income	6,269	6,083	4,625	4,515	6,508	6,242
Net Income to Common	6,269	6,083	4,625	4,515	6,508	6,242
Net Income Growth	-2.14%	31.52%	2.44%	-30.62%	4.26%	38.46%
Basic Shares Outstanding	2,250	2,250	2,250	2,250	2,250	2,250
Diluted Shares Outstanding	2,250	2,250	2,250	2,250	2,250	2,250
EPS (Basic)	2.79	2.70	2.06	2.01	2.89	2.77
EPS (Diluted)	2.78	2.70	2.06	2.01	2.89	2.77
EPS Growth	-2.18%	31.52%	2.44%	-30.62%	4.42%	38.50%
Dividend Per Share	0.540	0.540	0.410	0.400	-	-
Dividend Growth	31.71%	31.71%	2.50%	-	-	-
Effective Tax Rate	21.57%	19.18%	23.66%	26.05%	7.27%	21.09%

Source: S&P Capital IQ. Banks template. Financial Sources.