‘No one is ever perfect’: TG Limcaoco sorry about BPI’s duplication of transactions

The president of the Bank of the Philippine Islands (BPI) has vowed to improve the institution’s internal systems after a glitch led to double deductions in the deposits of some account holders.

BPI depositors were temporarily blocked from accessing their online accounts for most of Wednesday, January 4 due to a glitch that caused double debiting of money transfers and withdrawals over the New Year long weekend.

TG Limcaoco addressed the issue a day after it had been resolved.

“We regret the incident and its effect on our customers. No one is ever perfect, and when you stumble, you admit and address,” his statement read.

“This incident only strengthens our resolve to always pursue excellence, uphold the highest banking standards, and repay the trust and confidence our customers place in us.”

Limcaoco thanked clients for their patience and understanding, as well as the BPI “frontliners,” who he said immediately attended to depositors’ concerns.

He assured that all accounts and deposits remain “safe and secure” with the Ayala-owned lender, as he vowed “to review and improve” current systems, processes, and controls to avoid the glitch from happening again.


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