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Dec 31, 2022
East West Bancorp Q4 2022 Earnings Report
East West Bancorp reported record net income and diluted earnings per share for full year 2022 and increased dividend by 20%.
Key Takeaways
East West Bancorp reported a record net income of $336.8 million, or $2.37 per diluted share, for the fourth quarter of 2022, representing a 56% year-over-year growth. Total loans reached a record $48.2 billion, up 16% year-over-year, and total deposits grew to a record $56.0 billion, up 5% from a year ago. The company's return on average assets was 2.1%, and return on average tangible equity was 25.0%.
Record net income for full year 2022 of $1.1 billion and record diluted earnings per share of $7.92.
Fourth quarter 2022 net income was $336.8 million, or $2.37 per diluted share, which grew 56% year-over-year.
Total loans reached a record $48.2 billion as of December 31, 2022, up 16% year-over-year.
Total deposits grew to a record $56.0 billion, up 5% from a year ago.
East West Bancorp
East West Bancorp
Forward Guidance
The company expects to continue its track record of outstanding profitability, achieved through solid revenue growth and disciplined expense management, while maintaining healthy capital levels.