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Rizal Commercial Banking president resigns

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Rizal Commercial Banking president resigns

RizalCommercial Banking Corp. President Lorenzo Tan has resigned fromhis position, effective May 6, Reuters reported.

The company had cleared Tan of any responsibility related toa money launderingscandal involving the cyber theft of US$81 million from Bangladesh Bank'saccount at the U.S. Federal Reserve Bank of New York, according to the report.The funds had been traced back to a Rizal branch.