Tomas O. tells BDO branch: Explain

By: Inna Mejia March 22,2017 - 09:15 PM
OSMEÑA

OSMEÑA

After Banco De Oro’s Magallanes branch, Cebu City Mayor Tomas Osmeña issued another show cause notice against BDO; but this time, it is the bank’s Cebu Osmeña branch.

Osmeña provided the media with copies of the notice during a press briefing yesterday.

The notice asked Pilarina M. Del Rio, manager of the bank, to explain in writing within five days why the city government should not order an “immediate closure” of their establishment.

Osmeña said the bank allegedly under-declared its gross sales for the year 2016.

When sought for comment, the bank management refused to issue any statement about the issuance of the notice.

The notice dated March 22 also said that the Cebu Osmeña branch is operating without a business permit, which is in itself a violation of the law.

The notice stated that the bank had declared a gross income of only P6,986 for 2016 as shown by the records of the Business Permit and Licensing Office, Mayor’s Office and the City Treasurer’s Office.

The notice also pointed out that in 2017, the application form of the declaration of the bank’s gross income amounted to P2,308,259.

After the show cause notice, the city will file a case against BDO and close it, Osmeña said.

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TAGS: Banco de Oro, bank, BD, Cebu, Cebu City, Cebu City Mayor Tomas Osmeña, mayor Tomas Osmeña

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