06/10/2025
๐ฆ๐: ๐๐ฎ๐ป๐ธ๐ ๐ฐ๐ฎ๐ป ๐ฏ๐ฒ ๐ต๐ฒ๐น๐ฑ ๐น๐ถ๐ฎ๐ฏ๐น๐ฒ ๐ณ๐ผ๐ฟ ๐บ๐ผ๐ฟ๐ฎ๐น ๐ฑ๐ฎ๐บ๐ฎ๐ด๐ฒ๐ โ ๐ฒ๐๐ฒ๐ป ๐๐ถ๐๐ต๐ผ๐๐ ๐ฏ๐ฎ๐ฑ ๐ณ๐ฎ๐ถ๐๐ต โ ๐ถ๐ณ ๐๐ต๐ฒ๐ถ๐ฟ ๐ป๐ฒ๐ด๐น๐ถ๐ด๐ฒ๐ป๐ฐ๐ฒ ๐ฐ๐ฎ๐๐๐ฒ๐ ๐บ๐ฒ๐ป๐๐ฎ๐น ๐ฎ๐ป๐ด๐๐ถ๐๐ต ๐๐ผ ๐ฑ๐ฒ๐ฝ๐ผ๐๐ถ๐๐ผ๐ฟ๐.
Remedios and Angelita Antonino, U.S. green card holders living abroad, placed over US$150,000 in time deposits with BDOโs San Lorenzo Branch. It was arranged that these deposits were supposed to roll over into savings accounts. Since the Antoninos spent much of their time abroad, they kept the time deposit certificates (TDCs) in a safety deposit box at Banco Filipino for safekeeping.
Later, Banco Filipino, where the box was stored, went bankrupt and was taken over by the PDIC. Worse, BDO San Lorenzo Branch also ceased operations and closed without notifying the Antoninos. When they tried to withdraw their money, BDO claimed the funds had already been released through a demand draft allegedly signed by Angelita. However, she denied signing the draft, pointing out that she was abroad at the time.
๐ง๐ต๐ฒ ๐๐ผ๐๐ฟ๐ ๐ต๐ฒ๐น๐ฑ ๐๐ต๐ฎ๐ ๐ฏ๐ฎ๐ป๐ธ๐ ๐ฎ๐ฟ๐ฒ ๐บ๐ฎ๐ป๐ฑ๐ฎ๐๐ฒ๐ฑ ๐ฏ๐ ๐น๐ฎ๐ ๐ฎ๐ป๐ฑ ๐ท๐๐ฟ๐ถ๐๐ฝ๐ฟ๐๐ฑ๐ฒ๐ป๐ฐ๐ฒ ๐๐ผ ๐ผ๐ฏ๐๐ฒ๐ฟ๐๐ฒ ๐ฝ๐ฟ๐๐ฑ๐ฒ๐ป๐ฐ๐ฒ ๐ฎ๐ป๐ฑ ๐ฑ๐ถ๐น๐ถ๐ด๐ฒ๐ป๐ฐ๐ฒ ๐ต๐ถ๐ด๐ต๐ฒ๐ฟ ๐๐ต๐ฎ๐ป ๐๐ต๐ฎ๐ ๐ผ๐ณ ๐ฎ โ๐ด๐ผ๐ผ๐ฑ ๐ณ๐ฎ๐๐ต๐ฒ๐ฟ ๐ผ๐ณ ๐ฎ ๐ณ๐ฎ๐บ๐ถ๐น๐,โ ๐ผ๐๐ถ๐ป๐ด ๐๐ผ ๐๐ต๐ฒ ๐ณ๐ถ๐ฑ๐๐ฐ๐ถ๐ฎ๐ฟ๐ ๐ป๐ฎ๐๐๐ฟ๐ฒ ๐ผ๐ณ ๐๐ต๐ฒ๐ถ๐ฟ ๐ฏ๐๐๐ถ๐ป๐ฒ๐๐. ๐๐ป ๐๐ถ๐ฒ๐ ๐ผ๐ณ ๐๐ต๐ฒ ๐๐ถ๐ด๐ป๐ถ๐ณ๐ถ๐ฐ๐ฎ๐ป๐ ๐ฟ๐ผ๐น๐ฒ ๐ผ๐ณ ๐ฏ๐ฎ๐ป๐ธ๐ถ๐ป๐ด ๐ถ๐ป๐๐๐ถ๐๐๐๐ถ๐ผ๐ป๐ ๐ถ๐ป ๐ฐ๐ผ๐บ๐บ๐ฒ๐ฟ๐ฐ๐ถ๐ฎ๐น ๐๐ฟ๐ฎ๐ป๐๐ฎ๐ฐ๐๐ถ๐ผ๐ป๐, ๐ฏ๐ฎ๐ป๐ธ๐ ๐บ๐ฎ๐ ๐ฏ๐ฒ ๐น๐ถ๐ฎ๐ฏ๐น๐ฒ ๐ณ๐ผ๐ฟ ๐ฑ๐ฎ๐บ๐ฎ๐ด๐ฒ๐ ๐ถ๐ณ ๐๐ต๐ฒ๐ ๐ณ๐ฎ๐ถ๐น ๐๐ผ ๐ฒ๐
๐ฒ๐ฟ๐ฐ๐ถ๐๐ฒ ๐๐ต๐ฒ ๐ต๐ถ๐ด๐ต๐ฒ๐๐ ๐ฑ๐ฒ๐ด๐ฟ๐ฒ๐ฒ ๐ผ๐ณ ๐ฑ๐ถ๐น๐ถ๐ด๐ฒ๐ป๐ฐ๐ฒ, ๐ฎ๐น๐ผ๐ป๐ด ๐๐ถ๐๐ต ๐ต๐ถ๐ด๐ต ๐๐๐ฎ๐ป๐ฑ๐ฎ๐ฟ๐ฑ๐ ๐ผ๐ณ ๐ถ๐ป๐๐ฒ๐ด๐ฟ๐ถ๐๐ ๐ฎ๐ป๐ฑ ๐ฝ๐ฒ๐ฟ๐ณ๐ผ๐ฟ๐บ๐ฎ๐ป๐ฐ๐ฒ ๐ถ๐ป ๐๐ต๐ฒ ๐ฑ๐ถ๐๐ฐ๐ต๐ฎ๐ฟ๐ด๐ฒ ๐ผ๐ณ ๐ถ๐๐ ๐ณ๐๐ป๐ฐ๐๐ถ๐ผ๐ป๐.
In the present case, BDO was found negligent for failing to properly verify the identity and authority of the person who allegedly withdrew the large deposit. While there was no evidence of malice or bad faith on BDOโs part, the Court ruled that negligence alone is sufficient basis for awarding moral damages when it causes mental anguish, anxiety, and similar suffering to depositors.
Accordingly, BDO was ordered to pay the Antoninos the full value of their time deposits, with interest until fully paid, as well as moral damages amounting to โฑ100,000, exemplary damages, and attorneyโs fees. The ruling reinforces that banks, given their special role in safeguarding public funds, may be held liable for moral damages purely on the ground of negligence, underscoring the high degree of care expected of them in handling depositorsโ accounts.
Read the full text here:https://sc.judiciary.gov.ph/wp-content/uploads/2025/09/273446.pdf