MANILA - The Senate will defer its investigation on a glitch that paralyzed Bank of the Philippine Islands' electronic services for 2 days, the lawmaker in charge of inquiry said Wednesday.
Senator Francis Escudero said the Senate would wait for results of an internal investigation by BPI and a separate inquiry by the Bangko Sentral ng Pilipinas.
"Without sacrificing the truth and transparency, we should also be careful about the effects an investigation may have on the banking industry as a whole especially given the fact that BPI is the third largest bank in the countr," said Escudero, chairman of the Senate Committee on Banks, Financial Institutions and Currencies.
BPI customers were unable to transact through ATM, mobile app and internet banking for 2 days last week after what the bank said was an "internal" issue caused unauthorized debits or credits to accounts. Bank president Cezar Consing said it was not a hacking.
The bank's chairman, Jaime Augusto Zobel de Ayala, on Tuesday thanked customers for their patience throughout the ordeal.