The Philippines' stringent bank secrecy laws are preventing the release of financial records for Vice President Sara Duterte, despite a subpoena issued by the House justice committee.
BPI president TG Limcaoco highlighted the legal constraints, noting that the country's privacy protections are more rigid than those in many other jurisdictions.
This stance reinforces the legal barrier facing lawmakers seeking to access the vice president's tax and banking information.
The refusal to comply with the subpoena marks a significant escalation in the ongoing political conflict between the Duterte and Marcos factions.
President Ferdinand Marcos Jr. has previously authorized the release of Duterte's tax returns and bank records to the Senate impeachment court, creating a direct contradiction between executive authorization and banking compliance.
The divergence highlights the tension between political pressure and statutory privacy obligations in the Philippines.