EastWest branches to stay open on Monday

MANILA, Philippines - East West Banking Corp. said it will keep eight branches open on Monday despite the holiday in order to meet the needs of its customers.

In a statement, the bank said its branches located in Baclaran, Cebu Park Mall, 168 Mall, 999 Shopping Center, Greenhills Shopping Center, Bicutan East Service Road, Festival Supprt Mall 1, and another in Greenhills will all be open on Monday, Oct. 6.

“(This is) to serve the banking needs of customers and the general public during this long weekend,” EastWest said.

President Aquino last month declared Oct. 6 as a regular holiday in observance of Eidul Adha, a Muslim celebration commemorating the willingness of Ibrahim to obey Allah, and the end of the Hajj or the pilgrimage to Mecca.

 “In making banking easier for its customers even during the holidays, the bank’s … over 400 ATMs (automated teller machines) will be operational 24/7 to serve the cash needs of the banking public,” EastWest said.

It noted “cash withdrawals are notably heavy during holidays and long weekends.”

 “Alternatively, clients may also check their balances, pay bills and transfer funds 24/7 through EastWest’s Internet banking facility,” EastWest said.

EastWest has been aggressively expanding its presence in the country as it has opened a total of 178 branches in the past two years. It has opened 39 branches this year, bringing its total consolidated branch network to 386, made up of 339 EastWest branches and 47 EastWest Rural Bank branches.

The bank reported a 18-percent drop in net earnings in the first half of the year to P1 billion on the back of lower trading gains, a decrease in miscellaneous income, and higher income taxes.

However, EastWest’s core banking revenues went up by double-digit due to sustained strength in lending activities and deposit generation.