BDO, Cebu City gov’t row won’t affect bank operations
DEPOSITORS ASSURED
THE Cebu Bankers Club (CBC) has assured depositors of BDO Unibank Inc. that the day-to-day operations of the bank will not be affected by recent developments involving the institution and the Cebu City government.
In an advisory, CBC said all banks have business continuity plans to provide contingencies on external issues that could affect their ability to serve the banking public as mandated by the Bangko Sentral ng Pilipinas (BSP).
“In view of the recent developments regarding BDO Unibank Inc. versus the Cebu City government, we would like to assure the general banking public that the day-to-day operations of the bank will not be hampered,” the advisory read.
Moreover, the CBC and the BSP have taken the position that the injunction issued by the court must be respected and followed by both parties.
The Club was referring to the order of Judge Gilbert Moises of Regional Trial Court (RTC) branch 18 prohibiting Cebu City Mayor Tomas Osmeña from closing any BDO branch in the city last March 28.
Furthermore, the court also directed Mayor Osmeña to refrain from issuing any media statements against the bank.
BDO has 28 branches in Cebu City, 27 of which Osmeña threatened to close due to alleged violations of the City Tax Ordinance.
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