Off the wire
• China foreign exchange market turnover at 10.4 trln yuan in Jan.  • Urgent: G20 nations pledge "all policy tools" to strengthen global recovery  • Commentary: No need to worry about China's economy  • Southeast Asia proffers shared stances following foreign ministers' retreat in Laos  • News Analysis: Cessation of hostilities marks test step to end Syria crisis  • Zuma stuck in Burundi due to aircraft problems  • Big spending brings success to Chinese football?  • China market's gradual opening credit positive for foreign asset managers: Moody's  • Document exposes rift between Brazil's president and her political party  • China's Y-12F aircraft certified by FAA  
You are here: 　 Home

Interview: Improved Sino-U.S. relations boon for business: Chinese American banker

Xinhua, February 27, 2016 Adjust font size:

The improved Sino-U.S. relations have contributed to the good performance of East West Bancorp. Inc., the parent company of East West Bank, in 2015, the chairman and CEO of East West Bank said in an interview with Xinhua Friday.

"Besides the hard work and dedication of our 2,800 associates, the improved relationship between China and the United States has been of great importance to our performance last year," Dominic Ng said.

East West Bancorp. Inc. reported an increase in diluted earnings per share of 10 percent from 2014, as well as 9 percent of total loan increase and 14 percent of total deposits growth.

Pledging to be a financial bridge between the East and West, the bank has been actively involved in trade and investment activities between China and the United States in the past few years.

Ng added that about 75 percent of East West Bank's retail banking business and above 50 percent of its commercial banking business are now directly or indirectly related to the Chinese market or Chinese people in the United States.

Besides its branches and offices in the United States, the bank also has full service branches and representative offices in China.

"With a focus on Sino-U.S. relations, we set the right vision and mission," said Ng, "and that's how we continue to grow and increase our market value. We also increased our asset size and increased our earnings."

Since Ng joined the bank in 1991, only in 2008 did East West Bank suffer loss. "When I joined in as the president of the bank, it was very small," he said. But now, East West Bank ranks 23rd by market capitalization among all the listed U.S. banks.

Ng believed the future will be even brighter, and he thought stable and good Sino-U.S. relations will not only benefit both countries, but also be conducive to global development. "So both sides must cooperate in many fields," said Ng.

Besides providing financial services to companies in the entertainment industry, East West Bank is exploring cooperation with companies in environment, IT, life science, new energy and the agriculture business.

Ng is confident that the bank can serve as a more prominent bridge between the East and West as there are more and more trade and investment exchanges between the two countries. Endi