EastWest Bank probes missing deposits


MANILA, Philippines – Gotianun-led EastWest Bank is investigating the case of a controversial female branch manager who has disappeared along with the deposits of two of her long-time customers.

The amount of missing deposits was confidential but “not significant,” EastWest Bank said in a press statement to clarify social media posts about the missing branch manager.

“We have been in touch with the two affected depositors. They have been informed that an internal investigation is ongoing and that we will credit back to their account the amount taken,” the bank said.

The bank said this issue was limited to one EastWest branch. However, it assured that additional system-wide safeguards would be put in place “to make sure this isolated incident does not happen again.”

The two customers had been transacting with this branch manager for years, EastWest said.

EastWest noted it had been among the most profitable banks in the country in the past four years. It expects to post a net income of P7 billion in 2020, despite the pandemic year, from P6.2 billion in 2019.

“We expect to continue our profit run this year,” the bank added.


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