Universal Robina says unaffected by Metrobank fraud


Posted at Jul 21 2017 01:08 PM

MANILA - Universal Robina Corp said Friday it was unaffected by the reported fraud at Metrobank.

According to a Philippine Daily Inquirer report, a senior Metrobank official shifted at least P900 million to a fictitious account under the name of the snack food giant.

"Even as Metrobank continues to conduct an internal investigation on the matter, we would like to assure everyone that URC will not incur any financial loss whatsoever and that the integrity and security of URC and its active accounts at Metrobank remain unaffected by the said incident." the company said.

The report fraud is "unfortunate" but it will not stop URC from transacting with the country's second largest lender, the company said.

Universal Robina shares were down 0.56 percent to P161.10 on Friday.