East West Bancorp, Inc. (NASDAQ:EWBC) Q4 2022 Earnings Conference Call January 26, 2023 11:30 AM ET
Company Participants
Julianna Balicka - Head of Investor Relations
Dominic Ng - Chairman and Chief Executive Officer
Irene Oh - Chief Financial Officer
Conference Call Participants
Dave Rochester - Compass Point
Manan Gosalia - Morgan Stanley
Ebrahim Poonawala - Bank of America
Brandon King - Truist Securities
Casey Haire - Jefferies
Clark Wright - D.A. Davidson
Chris McGratty - KBW
Jared Shaw - Wells Fargo
Operator
Good day and welcome to the East West Bancorp Fourth Quarter and Full-Year 2022 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note, this event is being recorded.
I would now like to turn the conference over to Julianna Balicka, Director of Investor Relations. Please go ahead.
Julianna Balicka
Thank you, [indiscernible]. Good morning, and thank you, everyone, for joining East West Bancorp's fourth quarter and full-year 2020 earnings call with Dominic Ng, our Chairman and Chief Executive Officer; and Irene Oh, our Chief Financial Officer. This call is being recorded and will be available for replay on our Investor Relations website.
During their remarks, Dominic and Irene will reference a slide deck that is available on our Investor Relations site. Management may make projections or other forward-looking statements, which may differ materially from the actual results due to a number of risks and uncertainties, and management may discuss non-GAAP financial measures. For a more detailed descriptions of the risk factors and a reconciliation of GAAP to non-GAAP financial measures, please refer to our filings with the Securities and Exchange Commission, including the Form 8-K filed today.
I will now turn the call over to Dominic.
Dominic Ng
Thank you, Julianna. Good morning, and thank you everyone, for joining us for our earnings call. I will begin the review of our financial results with Slide 3 of our presentation. Our strong financial performance in 2022 was characterized by strong revenue growth, which was driven by strong loan growth and net interest margin expansion in a rising interest rate environment, combined with disciplined expense management, and solid and stable asset quality.
Together, all these drivers result in industry-leading profitability, both for the full-year and the fourth quarter of 2022. East West achieved record earnings of $1.1 billion or $7.92 per share for the full-year of 2022, an increase of 30% year-over-year. Our 2022 total revenue of $2.3 billion was our highest ever and grew 29% year-over-year. Our pretax pre-provision income of $1.6 billion grew 40% year-over-year in 2022. We returned a 1.8% on assets and 21% on tangible equity for the full-year.