OFFICIAL STATEMENT

June 10, 2017

The Bankers Association of the Philippines (BAP) expresses full support and confidence in the efforts of the Bank of the Philippine Islands (BPI) to resolve the internal system issues they encountered as they now proceed to fully restore normal service operations.

BPI has advised that bank accounts are up to date and account holders can transact business at bank branches. BPI has also taken steps to extend banking hours to accommodate its customers. In general, while system glitches are not uncommon, banks are fully equipped to cope with such and continue business transactions. We do not believe that this incident will affect the Bank’s ability to service its customers.

We collectively remain vigilant​ ​and commit to continuously harness technologies to better serve and protect the interest of the banking public.Suffice it to say, we believe that BPI remains a sound financial institution and that the public can remain confident in the banking industry​’s​ efforts to ensure deliver​y​ of ​secure services.