(L-R President and CEO Antonio C. Moncupa Jr. and Chairman of the Board Jonathan T. Gotianun)
RESPONSE FROM THE ISSUER CHAIRMAN JONATHAN T. GOTIANUN
May 07, 2012
PSE Chairman Jose Pardo, PSE President Hans Sicat, BSP Governor Amando Tetangco, SEC Chairperson Teresita Herbosa, friends.
Today is indeed a milestone in the history of East West Banking Corporation in its journey to become a more significant player in the Philippine banking industry.
From the time the bank was established in 1994, one of its goals has always been to someday become a publicly listed company with a wider ownership base. We believe that as a regulated financial institution accepting depositors' money, we have a fiduciary duty to run our institution prudently and professionally. Listed companies are also subjected to more stringent reportorial requirements as well as higher standards of corporate governance and transparency. By deciding to become one, we affirm our commitment to live by these higher standards which, by the way, we also believe would ultimately redound to the benefit of all our stakeholders - not only the depositing public, but also to our customers, employees, shareholders and the wider community.
We would not have reached this point had we not had the trust and support of these same stakeholders. They have kept faith in the bank and all its programs and today we take the opportunity ti thank them. First of all, we would like to highlight the hard work of our co-workers in the bank. Without them, we would not have neem able to embark on the transformational growth path that we have set for our institution. We would like to thank our clients for their loyal support all these years. Without them, we won't have a reason to exist. We also value the inspiration and guidance of the BSP, the SEC and the PSE. We believe that working closely with these institutions, we are working towards the same goal of having a strong, progressive and more inclusive financial system in the Philippines.
Our IPO and our listing today will give us growth capital to bring EastWest Bank to the next level of its development. We are very happy for the enthusiastic and positive response to our IPO, both here and abroad. Given this, we believe that our investors subscribe and affirm the correctness of our ambitious growth plans and it gives us much encouragement to pursue these relentlessly. Today, we dedicate ourselves to work hard to achieve all our goals.
We are happy that the nation's fundamentals are positive and conducive for growth, and EastWest Bank is an institution which has set itself along an ambitious growth plan. In the process we aim to be a positive force for growth of our employees, of our clients and of our country. This journey should be challenging and exciting, but the rewards will be great for all our stakeholders. We look forward to your continued support and patronage of EastWest Bank.
Thank you very much.