East West Bancorp Q3 2022 Earnings Report
Key Takeaways
East West Bancorp reported strong financial results for the third quarter of 2022, with record net interest income of $552 million and diluted earnings per share of $2.08. Total loans reached a record $47.5 billion, and asset quality remained healthy. Capital ratios expanded due to strong earnings growth.
Net income for the third quarter of 2022 was $295.3 million, or $2.08 per diluted share.
Net interest income increased to a record $552 million, up 66% linked quarter annualized.
Total loans reached a record $47.5 billion as of September 30, 2022, up 8% linked quarter annualized.
Asset quality continued to be healthy, with criticized loans decreasing 11% from June 30, 2022.
East West Bancorp
East West Bancorp
Forward Guidance
East West Bancorp is well-positioned to navigate changing economic conditions and help customers prosper. The company anticipates finishing 2022 on a high note and entering 2023 with strength and confidence.