EastWest first half profit drops 17% to P3.4B

MANILA, Philippines — East West Banking Corp. saw its first-half net income fall 17 percent to P3.4 billion as higher provisions for credit losses offset strong revenue growth. The Gotianun-led bank said increased buffers for probable losses, amid macroeconomic and geopolitical uncertainties, weighed on earnings. Net revenues rose 19 percent to P28.4 billion, driven by a