Gotianun-led EastWest won two awards at this year’s Asian Banking and Finance Retail Banking Awards held last July 18 at the Shangri-La Singapore for its Auto Loan business. EastWest Auto Loan product won the Automobile Lending Initiative of the Year and Consumer Finance Product of the Year awards for the Philippines category.
EastWest Auto Loan comprises the largest share of the bank’s consumer loan portfolio, growing into a major player in the industry with a 19% growth in total amount financed in 2018 versus the previous year, and a cumulative growth rate of 42% in loan receivables. The bank achieved its growth despite a contraction in the auto loan industry last year.
EastWest executed strategic maneuvers to grow their auto loan business, such as exclusive dealer tie-ups, expansion of satellite centers to invigorate market reach in the provinces, unique marketing and sales programs, and improved brand marketing.
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