HIGHLIGHT: Amidst a nationwide bank run threat from supporters of presidential contender Davao City mayor Rodrigo Duterte, the Bank of the Philippine Islands (BPI) denied accusations of a client confidentiality breach.
"We are committed to protecting client information and preserving the trust bestowed on us by our clients all these years," said BPI in a statement on Friday, April 29.
This occurred after vice presidential candidate Senator Antonio Trillanes IV exposed a list of alleged credit transactions of the Davao City mayor with BPI, amounting to P211 million.
"Our internal investigation reveals that there has been no such breach," added BPI in its statement.
Managing director and chief financial officer of Ayala Corp Jose Teodoro Limcaoco declared that BPI has not broken any laws. BPI is owned by Ayala Corp.
The former president of BPI Family Savings Bank, Limcaoco added: "I don't know where Sen. Trillanes got his information, but the graphic posted by the [Philippine Daily] Inquirer showing alleged credits, that is not a BPI document."
In the aftermath of the exposure, a viral post on social media called for a nationwide bank run or closure of bank accounts.
The post, which has been shared over 24,000 times, lamented the bank’s smeared reputation and unreliability.
Liberal Party standard-bearer Manuel Roxas II revealed a photo of a bank receipt from BPI showing the account of Duterte and his daughter Sara. Another bank receipt from the Inquirer showed similar results.
"The deposit slip shown by Mar or the Inquirer is not a unique thing. All banks will show the name of the depositor on a deposit slip," said Limcaoco.
BPI denied all allegations and asserted that they have one of the most secure data protection practices in the industry.