East West Bancorp, Inc. Reports $287.7 Million in Net Income for Q3 2023
Q3 Revenue Reaches $1 Billion as East West Bancorp, Inc. Navigates Economic Challenges
By NewsInMinutes
Published - Oct 19, 2023, 03:05 PM ET
Last Updated - Aug 27, 2024, 03:43 AM EDT
East West Bancorp, Inc. (EWBC) , a leading financial institution, recently announced its financial results for the third quarter of 2023, displaying resilience in the face of economic challenges. Despite facing a decline in net income and revenue, the bank managed to maintain a solid position in the market.
Net Income Decreases in Q3
East West Bancorp, Inc. reported a net income of $287.7 million for the third quarter of 2023. This represents a 7.8% decrease compared to the previous quarter, with net income totaling $312.0 million in Q2 2023. On a year-over-year basis, the decrease is less pronounced, with net income in Q3 2022 at $295.3 million. The decline in net income is attributed to several factors affecting the banking industry.
Revenue Remains Stable
