BDO Unibank Inc. on Monday informed its Cebu City clients that they will be serviced in alternative locations after the local government warned it may order the closure of 26 branches of the Sy-led bank for allegedly having failed to renew their business permits.
“We would like to apologize for whatever inconvenience the recent threat of branch closures in Cebu City has created,” BDO said in a statement on Monday.
Mayor Tomas Osmeña of Cebu City earlier said all branches of BDO were currently operating without business permits. This came after Osmeña filed a case against the BDO Magallanes-Plaridel Branch for allegedly not declaring its correct gross annual income.
BDO, however, claimed that it has complied with the requirements but that “the city government has refused to accept payments for local taxes and fees, and issue the permits contrary to what they did in the past.”
“We have made the necessary arrangements for the clients to be serviced in alternative locations. This is a local issue and has no bearing whatsoever on the operation of the Bank as a whole,” it said.