China Bank now investigating robbery at Commonwealth branch

China Banking Corp. said on Monday it is looking into the robbery at its branch along Commonwealth Avenue in Quezon City.

"We are fully cooperating with the authorities investigating the incident, including determining extent of loss," Alexander Escucha, SVP and head for Investor and Corporate Relations at China Bank, told GMA News Online.

The China Bank branch along Commonwealth Avenue was believed to have been broken into by the so-called "Termite Gang."

Authorities suspected the robbers may have entered the bank by boring a hole underground.

Escucha said the bank is now conducting its own investigation into the matter, and has forwarded the necessary documents to proper authorities.

"The CCTV recorder is already in possession of the police. We are conducting an immediate review of security arrangements at our branches to prevent a similar incident," he said.

The Commonwealth branch will be close for business but nearby branches will be open to accommodate clients.

"We are trying our resume normal operations at the branch as soon as possible. We apologize to our clients for any inconvenience, but they can meantime do transactions at nearby branches, ATMs or online. They can call their China Banker for any concerns," Escucha said.

As of June 30, 2017, China Bank was the country's seventh-largest bank in terms of assets at P572.344 billion.

China Bank closed 2016 with 541 branches and 805 automated teller machines (ATMs). — VDS, GMA News