Banco Filipino depositors decry inaction

CEBU, Philippines - Bangko Sentral ng Pilipinas representatives were flooded with complaints from more than 500 Banco Filipino Savings and Mortgage Bank depositors during a forum at the Rizal Public Library yesterday, mostly over the delay of the recovery of their money.

“Walang kwenta,” said Edmund Lim, 48, a depositor of the bank for more than 29 years. He said he cannot give the forum much credit since there were no concrete solutions presented by the BSP representative.

Lim said the P500,000 granted by the Philippine Deposit Insurance Corp. is not enough to meet his needs and the needs of his family.

“Kailan ninyo pa ibibigay ang pera namin… kapag patay na kami?” another woman, who requested anonymity, said during the forum.

She added she is old and she wants to enjoy the rest of her life. But she questioned how she can do that when she cannot touch all the money she worked hard to earn.

“The main purpose of this forum is to let the Bangko Sentral ng Pilipinas and Banco Filipino know that we are suffering because of their differences and we want our money without any single cent less,” said depositor Rene Perez, who was also one of the organizers of the said event.

Perez said they no longer want any part of the blame game between the two banks, rather they want immediate action to be able to get hold of their money as soon as possible.

“A lot of them are angry,” Perez said. He supported that it is quite understandable for the depositors to feel that way since the process of releasing their money has taken too long.

BSP Corporate Affairs Office Manager Rogelio Garcia said that the BSP management assured they will do their best to protect the interests of all Banco Filipino depositors. He said they are requesting the full cooperation of the depositors so that they can come up with the best solution to the issue.

Depositors and employees of BFSMB-Cebu branches also sent a letter of appeal to President Benigno Aquino III, the BSP, members of the Monetary Board, PDIC, BFSMB officers, directors, and stockholders to exhaust all means to rescue the beleaguered institution for the welfare of the depositors, creditors, and employees.

Banco Filipino was closed by the Monetary Board last March 17. (FREEMAN)