East West Bancorp Reports Record $1.2 Billion Net Income for 2024

East West Bancorp, Inc. announced record net income of $1.2 billion for 2024, with diluted earnings per share of $8.33. The company reported robust growth in deposits, up $7.1 billion year-over-year, and total assets reaching $76 billion, a 9% increase. CEO Dominic Ng highlighted the bank's 15.9% return on equity and a 12% growth in book value per share.

In response to strong performance, East West raised its quarterly dividend by 9% to $0.60 per share and authorized a $300 million stock repurchase plan. The bank also maintained solid asset quality, with nonperforming assets steady at 0.26% of total assets.