East West Banking confirms branch manager involved in missing funds

Philippines-headquartered East West Banking Corp. confirmed that a branch manager is involved in the loss of depositors' money.

In a stock exchange filing Jan. 18, the lender confirmed a same-day Business Mirror report that the branch manager has gone missing together with the deposits of two customers with whom she had been transacting for years.

East West Banking did not disclose the amount involved as the information is confidential under the country's bank secrecy law, but it said it has been in touch with the affected depositors.

The Philippine central bank is also investigating the incident.