Christopher Moral-niles on market share
From East West Bank CFO on Q4 earnings · · CNBC Television
“East West is stronger than ever. We have seen a number of our competitors disappear and a number acquired. And so the reality is the market share landscape has shifted to our favor over the past year, which is part of the reason why we added net new customer accounts and we grew to record levels.”
On , Christopher Moral-niles, Executive Vice President & Chief Financial Officer at EAST WEST BANCORP INC, spoke about market share during East West Bank CFO on Q4 earnings on CNBC Television.
About Christopher Moral-niles
Christopher Del Moral-Niles, Executive Vice President and Chief Financial Officer of East West Bancorp, discussed the bank's fourth-quarter earnings and its outlook in a September 2024 interview. He stated that 96% of the bank's business is driven by the American market, and described the Chinese American community as "remarkably resilient" and "remarkably loyal." Del Moral-Niles attributed the bank's softer loan growth guidance to the U.S. economic outlook, noting that the bank is not seeing the level of commercial real estate transactions that would support strong growth in that sector over the next few quarters, and predicted that business would slow further. Del Moral-Niles said the bank will continue to grow in commercial and industrial lending and residential lending, but will not grow commercial real estate as it has in the past. He suggested that a return to normal transaction levels in commercial real estate may require the Federal Reserve to lower interest rates by 100 to 150 basis points. Regarding the aftermath of the Silicon Valley Bank collapse, Del Moral-Niles stated that East West is "stronger than ever," that the market share landscape has shifted in the bank's favor, and that the bank added net new customer accounts and grew to record levels.