BDO apologizes for problems caused by threat of Cebu branch closures

CEBU CITY–BDO Unibank has apologized for the “inconvenience” the recent threat of branch closures in Cebu City has created.

In a statement on Monday, the bank said this was a local issue and had no bearing whatsoever on its operations as a whole.

“We have made the necessary arrangements for the clients to be serviced in alternative locations,” the statement read.

Cebu City Mayor Tomas Osmeña earlier hinted at the possible closure of 26 BDO branches in Cebu City, all of which had yet to secure their renewed business permits.

At present, City Hall is withholding the branches’ applications for business permit pending the investigation on BDO’s Magallanes-Plaridel branch.

READ: Osmeña holds business permits of SM Seaside, BDO branch

Last month, Osmeña filed a case against the branch for under declaring its gross annual income in 2016.

According to the mayor, establishments without business permits are not allowed to operate under the law.

The bank said it has complied with the requirements of the city government, but the latter has refused to accept payments for local taxes and fees as well as issue permits contrary to what it did in the past. JE