EWBC•East West Bancorp reported Q3 revenue of $823 million, up 6% year over year and above the $713.59 million analyst estimate. Diluted EPS was a record $2.76, and net income was $382 million.
East West Bancorp’s Q3 revenue rose 6% year over year to $823 million, beating the $713.59 million consensus estimate. Diluted EPS reached a record $2.76, and net income was $382 million.
The company cited loan and deposit growth, strong fee income and disciplined credit and expense management. Noninterest-bearing demand deposits rose nearly 15% year over year, while fee income grew 11% in the first nine months. East West Bancorp said it bolstered its allowance for loan losses because of continued uncertainty in the economic outlook.
