ILOILO City – Ahead of the highly anticipated Dinagyang Festival, EastWest Bank brought together clients, partners and industry leaders for its 2025 Market Outlook on Thursday, January 16. The event supports regional growth and fosters deeper community connections.
Jerry Ngo, CEO of EastWest Bank, highlighted the significance of Iloilo in the bank’s hyper-localization strategy.
“We believe in embedding ourselves deeply in the communities we serve. While many universal banks remain Metro Manila-centric, we are committed to building our presence in critical commercial hubs. Dinagyang is one of the most celebrated festivals, making it an ideal platform to engage with the Iloilo community. This year is also our 30th anniversary, which makes this event even more meaningful,” Ngo said.
The event featured expert discussions on economic trends, opportunities and strategies to navigate the year ahead, setting the tone for a promising 2025.
Raffy Algara, head of EastWest’s Financial Markets and Wealth Management Cluster, emphasized the bank’s hyper-localization strategy, which focuses on expanding its presence in regional centers.
“The growth outside Metro Manila is remarkable. For example, we recently opened our first priority center in Bacolod, with a bigger launch planned soon. Similarly, Iloilo stands out as a key player in driving regional growth,” he said.
The Market Outlook event presented an optimistic economic forecast for the year ahead. Bede Gomez, Chief Investment Officer at EastWest, provided a detailed analysis of global and domestic trends, highlighting the importance of resilience and adaptability in a dynamic market environment.
Key points included the following:
* Lower borrowing costs from reduced Bangko Sentral ng Pilipinas (BSP) policy rates, encouraging investments;
* Projected GDP growth of 6.3%, supported by strong domestic consumption, government spending, and remittance inflows;
* Sector growth in Financials, Retail, Technology, Power & Energy, and Real Estate Investment Trusts (REITs); and
* Increased demand for consumer loans and property investments, fueling economic expansion.
The discussion also focused on Iloilo’s pivotal role as a regional economic driver. With the P2.3-billion modernization of the Visayan Container Terminal, Iloilo City is poised for substantial economic gains, including enhanced logistics, over 3,000 new jobs, and stronger commercial appeal.
In 2023, Iloilo City achieved a GDP growth rate of 10.5%, the fastest in Western Visayas. This growth was fueled by sectors like Accommodation and Food Services, which surged by 48.3%, alongside Transportation and Other Services, which grew by 46.9%.
The event also fostered deeper engagement between EastWest and its clients. Attendees participated in panel discussions, posed questions to speakers, and networked with the bank’s top executives and industry leaders.
“This event reflects our commitment to delivering not only banking solutions but also the strategic guidance our clients need to thrive. At EastWest, we anticipate market changes to ensure our clients are always prepared for the future,” Gomez concluded./PN
