Time for Bangko Sentral, Labor Department, and Stock Exchange to step in?
The mass suspension of Philippine National Bank employees has been extended anew for a third month, Apr. 28–May 27.
Their second- and third-months suspension are with pay. Still, other benefits were withheld, foremost of which is quarterly bonus of one month’s pay. Labor issues are at play.
The suspended employees complained that superiors pried into not only their but also spouses’ bank accounts without informed consent. Allegedly they were questioned about deposits to their accounts up to several years back. They are consulting lawyers about bank secrecy and data privacy laws.
Citing a pseudonymous whistleblower, some said their suspension was retaliation for their review of a bank executive jet’s overpriced repair. While the directors board rejected the overprice, the insider-attempters have not been probed, they averred.
Others know nothing about the $2.96-million (P160 million) aircraft overprice. Still, they said their suspension was reprisal for other dutiful acts. “Our job is to examine procurements and expenses, and present alternatives,” one explained. “Oftentimes our studies foil some in top management.” At play too are banking rules and interests of depositors and small stockholders.
President Florido Casuela assured that all actions are within lawful banking regulations. He has been hurrying up the probe of the 18, but said each one has to undergo a half-day grilling. “Normal, regular, legal,” he stressed.
The second- and third-months preventive suspensions are “procedural”, Casuela said. He did not explain why those sessions were unconcluded in ten working days, leaving 12 more days within the first month’s suspension to render judgement. Nineteen employees initially were suspended, but one has been exonerated.
Casuela confirmed an earlier column that the 18 are being probed for improper uniform, habitual tardiness, sharing of passwords, missing furniture, and collusion with scrap buyers. These were detailed by another whistleblower against the admin unit. Protecting all identities, Casuela declined to name the 18 or show the white paper.
Admin staffers who were not suspended are also being probed. One said: “We don’t understand claims about attendance, uniform and passwords. We underwent internal audit only recently and there were no adverse findings.”
Some were told to present evidence in their defense. But they alleged to be uninformed of what their infractions are, when and where. “We don’t know what to refute,” they said.
Others were questioned about acts many months back. But because barred access to records, they are unable to defend themselves.
When suspended the first month, they received similar memos on Feb. 27. No detailed complaints:
“This is to inform you that there is an ongoing investigation in connection with alleged irregularities pertaining to your duties and actions of Admin Group. There were purported acts of omission constituting dishonesty and gross violation of bank existing policies and rules.
“After careful evaluation/deliberation, it has been determined that your continued presence poses a serious or imminent threat to the property of the bank.
“For which reason you are hereby placed under preventive suspension in accordance with the bank code of conduct for a period of 30 calendar days without pay commencing from Feb. 27, 2023 to March 28, 2023.
“Accordingly you are hereby relieved from your duties and responsibilities on the specified period pending completion of investigation and barred from entering the bank/branch premises for the period of preventive suspension.”
The second and third memos, extending the suspensions for the second and third months, likewise had no specific infractions. Only the inclusive dates: Mar. 29-Apr. 27 and Apr. 28-May 27 (see photo below). All were signed by Human Resource Group officer-in-charge Socorro Corpus, coursed through Executive VP Aida Padilla.
Calls and texts to Padilla for interviews remain unanswered. Same wist those to Clive Kian, aviation fleet VP and executive assistant to chairman emeritus Lucio K. Tan.
In the care of first wife and family, Mr. Tan reportedly is frail and forgetful at age 88. He bought PNB from the government in 2005 and grew it to P1.15-trillion assets, P11.4-billion profit (first three quarters, 2022), 8,550 personnel, and 670 branches. Forbes ranks it the Philippines’ second-best bank.
In the 15-member board aside from Mr. Tan are wife Carmen, daughters Sheila and Vivienne, grandson Lucio III and son Michael (by second wife Letty, deceased). Bangko Sentral has strict “fit and proper” standards.
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