To assist its credit cardholders in reducing their fuel expenses, Gotianun-led East West Banking Corp. has extended its exclusive collaboration with Unioil Petroleum Philippines Inc.
Executives of Unioil and EastWest Bank during the partnership signing
The partnership, which is in its fifth year, enables EastWest credit cardholders to take advantage of a discount of up to P4 per liter at selected Unioil stations around the country through December 31 of this year.
According to the bank, consumers can save up to P320 on fuel purchases by taking advantage of this discount for up to three transactions or 80 gallons each day.
EastWest SVP and head of credit cards division Aylwin Tamayo stated, “Our partnership with Unioil reflects our goal of providing meaningful and relevant benefits to our cardholders.”
EastWest Bank: Providing meaningful benefits to cardholders
“We enable our customers to stretch their budget further and fuel their journeys with confidence and ease by providing generous fuel discounts.”
Raymond See, vice president for retail at Unioil, stated, “Our partnership (with EastWest Bank) has been solid and advantageous to both parties over the years, allowing us to broaden our reach and improve the customer experience.”
“This renewed partnership will provide our valued customers with an enhanced driving and fueling experience as we continue to grow and innovate. We anticipate many more years of prosperity and accomplishments together with EastWest Bank,” he continued.
About Unioil and EastWest Bank
Unioil Petroleum Philippines, Inc., the nation’s third-largest petroleum company, has been a pioneering force since 1966, revolutionizing the way Filipinos fuel their lives. From its humble beginnings with a lubricants blending facility in Valenzuela, Metro Manila, Unioil has evolved into one of the most diverse and innovative petroleum companies in the Philippines.
Over the past five decades, Unioil has continually expanded its business operations, embracing new opportunities and technologies to better serve its customers. From retail service stations and wholesale fuels trading to lubricants blending and distribution, specialty oils marketing, and distribution of bitumen (asphalt), Unioil’s diverse portfolio reflects its unwavering commitment to excellence and innovation.
From retail service stations and wholesale fuel trading, Unioil has grown since 1966 to include bitumen delivery, lubricant blending and distribution, and specialty oil marketing.
Today, with over 162 retail stations nationwide, Unioil takes pride in delivering excellent, environmentally sound fuels to its customers. Unioil proudly stands as the sole provider of a complete line of Euro 5-compliant fuels in the Philippines, setting the industry benchmark for cleaner emissions. It offers a full range of Euro 5-compliant fuels in the Philippines and now has more than 160 retail stations around the country.
Conversely, EastWest is a division of the diverse conglomerate Filinvest Development Corp., which also owns stakes in sugar, real estate, power generation, and hotels and tourism.
Established on July 6, 1994, EastWest Bank was the first recipient of a commercial banking license after the central monetary authority liberalized banking in the mid-1990s. Its first branch was opened along Sen. Gil Puyat Avenue in Makati City on August 1, 1994.
Its name is the result of the bank’s desire to combine the traditional prudence, warmth and hospitality of the East and the efficiency and progressive-thinking of the West.
In 2024, the bank reported a net income of PHP3.5 billion (approximately US$62.12 million) for the first half of that year, marking a notable 24% increase in net revenue compared to the same period in 2023.
This remarkable growth, driven by the expansion of deposits and loans, underscores the resilience and strength of the Philippine banking sector, which continues to play a pivotal role in the country’s economic recovery.
The performance of EastWest Bank reflects broader trends reported by the Bangko Sentral ng Pilipinas (BSP) in its recent analyses of the banking industry’s impact on the national economy. Today, the bank has 575 automated teller machines and 390 locations nationwide as of the end of September 2024.