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Jun 30, 2024
East West Bancorp Q2 2024 Earnings Report
East West Bancorp's financial performance remained strong in Q2 2024, marked by growth in loans and deposits, and record fee income.
Key Takeaways
East West Bancorp reported a net income of $288 million, or $2.06 per diluted share, for the second quarter of 2024. Total loans and deposits each grew by 2% quarter-over-quarter, complemented by record fee income which grew 8%. The company's return on average assets was 1.63%, and return on average common equity was 16.4%.
Net income for Q2 2024 was $288 million, or $2.06 per diluted share.
Total loans and deposits each grew by 2% quarter-over-quarter.
Fee income increased by 8% quarter-over-quarter, reaching a record level.
Net charge-offs remained stable at 0.18% of average loans, while criticized loans decreased by 10%.
East West Bancorp
East West Bancorp
Forward Guidance
No specific forward guidance was provided in the earnings report.