BSP examiner tagged in Davao Sur illegal bank operations

DAVAO CITY – A bank examiner of the Bangko Sentral ng Pilipinas is allegedly behind the illegal operation of a rural bank in Padada, Davao del Sur which was earlier closed after it was found out to have no permit nor license to operate.

A high-ranking BSP official, told The STAR the bank examiner, based at the BSP central headquarters in Manila, was found out to be the one behind the operation of EAGA Bank in Padada even without the necessary permit and business licenses.

However, the same ranking BSP official also declined to identify the bank examiner who has been pinpointed as allegedly the one who oversees the operations of the EAGA bank since last year.

“An investigation is going on and I could not name him yet,” the highly-reliable STAR source said, although there were hints the suspected BSP bank examiner has already been in office for almost 15 years.

Administrative and criminal charges shall reportedly be filed against him should he be found responsible for such an illegal act.

“Administrative cases shall be filed against the examiner if there would be sufficient ground for elevating it to criminal charges,” said The STAR source, adding that a preventive suspension for 90 days shall also be immediately imposed to pave the way for the investigation.

EAGA bank closed shop last Monday that sent its depositors to panic after the municipal government of Padada also started questioning the operation of the rural bank in the absence of a business permit.

It was found out that the EAGA bank was also not licensed to operate by the BSP itself. The bank reportedly held at least P500,000 in deposits when it closed shop last week. Most of the said deposits were made by market vendors in the said town whose money were personally collected by bank representatives from their respective places.

Moreover, Nonita Sarona, Bank Officer 2 of the BSP office here, led the bank officials who imposed the closure order on the EAGA bank last week.

Notice of closure was also placed in front of the premises of the bank located in the poblacion of the said town.

Hundreds of the bank’s depositors have lamented that they could not get back their money since there seems no hope for the EAGA bank to reopen.

The same STAR source said it was discovered that the suspected bank examiner frequented the EAGA bank more than what was supposed to be the usual number of times a rural bank shall be examined.

“The problem was that the examiner already made the examination on the bank more than once a year,” the source said.

The EAGA Bank was reportedly owned by another person and under another name before the said BSP bank examiner took over the operations.