BPI glitch saw P46M ‘mistakenly withdrawn’
AROUND P46 million was “mistakenly withdrawn” from the Bank of the Philippine Islands during its technical glitch two weeks ago, an executive of the bank told the House of Representatives on Thursday, June 22.
“P46 million (was) mistakenly withdrawn. There (was a) mis-posting and because of this, there was an amount that was mistakenly withdrawn,” BPI President and Chief Executive Officer Cezar P. Consing said at the hearing of the committee on banks and financial institutions.
The funds, Mr. Consing said, were from the accounts of “small merchants, small businesses” but “most of this is getting paid back.... We are making settlements with them one by one.”
The BPI executive said the mis- posting affected 1.5 million of the bank’s eight million clients.
Joseph Albert L. Gotuaco, BPI chief financial officer, said the average mis- posting was around P7,000. — interaksyon.com