Bankers group assures public of sound internal controls

In a statement, the Bankers Association of the Philippines (BAP) said it is confident that Metrobank will quickly resolve the case, which it regards as an isolated incident.

“We are confident the facts will arise from the ongoing investigations being carried out by both Metrobank and the Bangko Sentral ng Pilipinas. Such incident is quite unfortunate but we wish to reiterate that banks have established internal controls and systems and instituted separation of functions designed to help prevent crimes of this nature from happening,” it said.