EastWest Banking Corporation (EastWest) has strengthened its position in the Philippine credit card industry with the successful transfer of Standard Chartered Bank’s retail business. This move included the integration of retail deposits, wealth management services, personal loans, and credit cards into EastWest’s portfolio.
With this milestone, EastWest has become the fifth-largest credit card issuer in the country, now serving over one million cardholders. To mark this achievement, the bank introduced two new premium credit cards designed to cater to the growing needs of its affluent clients: the EastWest Visa Platinum Credit Card and the EastWest Priority Banking Visa Infinite Credit Card.
New Premium Credit Cards for Affluent Customers
According to Jacqueline S. Fernandez, EastWest EVP and Consumer Lending Cluster Head, the new products highlight the bank’s commitment to delivering superior and differentiated benefits for customers.
EastWest Visa Platinum Credit Card – Offers Cash Rewards on purchases made anytime and anywhere, giving cardholders more value every time they spend.
EastWest Priority Banking Visa Infinite Credit Card – An exclusive, invitation-only card for EastWest Priority Banking clients. Members enjoy premium lifestyle privileges worldwide along with a perpetual waiver of annual membership fees for both principal and supplementary cardholders.
Strengthening Consumer Lending
The expansion of its credit card portfolio aligns with EastWest’s broader goal of growing its consumer lending business. By offering more premium choices, the bank continues to elevate its services to match the lifestyle and financial needs of its diverse client base.
In addition, all EastWest credit cards are now EMV chip-enabled, ensuring enhanced security for customers in compliance with the Bangko Sentral ng Pilipinas (BSP) mandate. EastWest was able to meet this requirement ahead of the BSP’s deadline, further proving its commitment to customer protection and innovation.
A Fast-Growing Universal Bank
Beyond credit cards, EastWest also ranks as the fifth largest in terms of store network (excluding subsidiaries) and the fourth largest in auto loans as of Q3 2016. The bank is among the fastest-growing universal banks in the Philippines and is part of Filinvest Development Corporation (FDC), one of the country’s biggest conglomerates with diverse businesses spanning real estate, hospitality, sugar, banking, and power generation.
With its expanded credit card offerings and strong industry standing, EastWest continues to carve its place as a trusted financial partner for Filipinos seeking reliable and rewarding banking solutions.