EastWest Bank-Bank of China sign deal. At the signing ceremony were (from left) EastWest treasury group head and SVP Manuel Goseco, EastWest president and CEO Antonio C. Moncupa, Jr., Bank of China Manila Branch general manager Deng Jun and Bank of China Manila Branch assistant general manager Lin Sheng Qiang.
EastWest Bank, one of the fastest growing banks in the country today, recently signed a Renminbi (RMB) business agreement with Bank of China Manila Branch at the EastWest Corporate Center in Bonifacio Global City. Under this agreement, Bank of China shall act as the clearing bank which will service the RMB notes requirements of EastWest.
The EastWest Renminbi Savings Account allows its holders to trade with parties who conduct their businesses in RMB, eliminating exposure to foreign exchange fluctuations. EastWest currently offers its RMB savings account in five branch stores: 168 Mall, Baclaran, Binondo, Del Monte and in its flagship branch store – The Beaufort. Rimini is the currency of the People’s Republic of China consisting of yuan.
EastWest opened its doors to the public on August 1, 1994. The bank is a subsidiary of the Filinvest Development Corporation (FDC), the publicly listed holding company of the Filinvest Group that evolved from a consumer business founded by Andrew L. Gotianun, Sr. in 1955. FDC is one of the country’s premier conglomerates, with business interests in real estate, banking, sugar, hospitality and tourism, and power-generation. Through the years, EastWest Bank has successfully capitalized on the financial strength and synergy from the business organizations under the Filinvest Group. As it continues to register strong business performance, EastWest remains committed in making good things happen for its clients.