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BSP looking into BPI downtime

REUTERS

THE BANGKO Sentral ng Pilipinas (BSP) is looking into the unscheduled service disruption experienced by clients of Bank of the Philippine Islands (BPI) on Tuesday, a senior official said.

“At this point, the BSP is looking at the root cause of this occurrence,” BSP Deputy Governor Chuchi G. Fonacier said in a Viber message on Tuesday.

BPI’s services were unavailable early on Tuesday as its system was unable to process an “unusually high” volume of transactions, it said in an advisory.

“Please be advised that ATM (automated teller machine) withdrawals, CAM (cash acceptance machine) deposits, Debit Card purchases, BPI app, BPI online, and use of BPI online credentials for payments and loading using third party apps are currently not available,” it said on Tuesday morning. “Our system is still processing the unusually high weekend transactions due to tax payments.”

BPI was able to restore the affected services as of 2:40 p.m. on Tuesday. It had hoped to resolve the issue by 12 p.m. that day, but the bank said in another advisory that processing the affected transactions took longer than expected.

The listed bank’s attributable net income rose by 61.13% year on year to P54.82 billion in 2023.

BPI’s shares went down by P1.50 or 1.28% to close at P115.50 apiece on Tuesday. — Aaron Michael C. Sy

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