East West Bancorp (EWBC) Q2 Earnings Beat, Fee Income Rises

The results were primarily aided by an increase in adjusted non-interest income. Also, deposit and loan balances increased sequentially in the quarter. However, lower net interest income (NII) and higher adjusted non-interest expenses and provisions were the undermining factors. Adjusted quarterly net revenues were $637.9 million, down 1.2% year over year. However, the top line beat the Zacks Consensus Estimate of $634.6 million. The adjusted efficiency ratio was 34.25%, down from 40.56% in the prior year q ...