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Gotianun-led EastWest Bank (EW) posted a net income of P3.8 billion in the first semester of 2021, normalizing from last year’s elevated level of P4.5 billion.
The lower income was mainly due to lower loan revenues and trading gains. Return on equity (ROE) was at 13.3 percent.
Total revenues for the first half of the year declined by 19 percent to P15.0 billion, primarily driven by lower net interest income (NII) and lower trading gains.
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NII or the difference between interest income and interest expense, was down 14 percent to P11.5 billion, due to lower loan levels and yields on both loans and fixed income securities.
