Bank clients alertedNBI spokesman Ferdinand Lavin warned bank depositors and clients: We want to give a stern warning to individuals and insiders of banks to report schemes like this. Garcia said Metrobank is conducting its own internal investigation to find out if Lopez operated with other collaborators or conspirators. The Metrobank case follows the technical glitches at Banco de Oro (BDO) and the Bank of the Philippine Islands (BPI), which had prompted an immediate Senate investigation. The central bank chief admitted no system is perfect but Metrobank is expected to be resilient to problems like fraud. Metrobank financial reportAs of end-March 2017, Metrobank’s total assets stood at P1.58 trillion, and its total deposit liabilities at P1.23 trillion.

Source: Manila Times July 21, 2017 16:31 UTC