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Banco Filipino blames BSP.
ALL BRANCHES of Banco Filipino Savings & Mortgage Bank in Cebu and Dumaguete City were closed yesterday, to the consternation of depositors.
Banco Filipino branches in Metro Manila were also shuttered.
The thrift bank asked the Bangko Sentral ng Pilipinas (BSP) for immediate financial assistance, saying that it encountered heavy withdrawals from depositors worried about its financial health.
But the Aguirre-led bank also blamed the BSP for contributing to its woes, citing the nonimplementation of a rebuilding plan that would require P25 billion in liquidity infusion by the banking regulator.
Banco Filipino currently has about P17 billion worth of deposits in 62 branches32 in Metro Manila and 30 outside the metropolis.
The BSP said it had asked Banco Filipino to clarify its financial situation to clients and to the banking regulator, following reports that the financial institution had declared a voluntary bank holiday.
In a press statement, the BSP acknowledged that it had received reports and complaints from Banco Filipinos depositors from various parts of the country.
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