EastWest Bank said Thursday that one of its bank managers has gone missing along with the money of the two depositors.
Meanwhile, Bangko Sentral said, “it is looking into reported unauthorized transactions relayed by some of the country’s lawmakers and reported by media.”
According to ACT CIS Party-list representative Nina Taduran, a branch of EastWest Bank had lost 2 depositors’ hundreds of millions of peso.
In a statement, EastWest Bank admitted that one of its branch managers “has gone missing together with the deposits of her two customers with whom she had been transacting for years.”
“We have been in touch with the two affected depositors. They have been informed that an internal investigation is ongoing and that we will credit back to their account the amount taken,” the bank said.
“EastWest will always stand by its commitment to protect depositors’ and customers’ money. The issue is limited to one branch but nonetheless, we shall put in place additional system-wide safeguards to make sure this isolated incident does not happen again,” the company added.
EastWest Bank did not detail how much money was missing citing confidentiality, but said it was “not significant especially as the bank has been among the Top 3 most profitable banks in the country in the past four years.”
EastWest Bank manager gone missing with money of 2 depositors
Meanwhile, the BSP said it is investigating financial consumer complaints as well as the actions of the involved institutions.
It also said, “the domestic banking system adheres to robust and globally-adherent regulations for managing risks, including operational and cybersecurity risks.”
“The BSP continues to ensure the safety and integrity of the financial system through the strict implementation of banking regulations,” the central bank said.
EastWest Bank, more formally known as East West Banking Corporation, is the eleventh largest bank in the Philippines in terms of assets. It is a member of the Filinvest Group, one of the largest conglomerates in the Philippines founded by the late tycoon Andrew Gotianun.
The bank said it “provides exceptional personal banking, small business loans, home mortgages, and international banking services to customers worldwide.”