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BANK OF PHILIPPINE ISLANDS v. IAC AND SPS. ARTHUR CANLAS AND VIVIENE CANLAS

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GR No. 157845
2005-09-20
PHILIPPINE NATIONAL BANK v. NORMAN Y. PIKE
CHICO-NAZARIO, J.
Though passed long after the unauthorized withdrawals in this case, the aforequoted provision is a statutory affirmation of Supreme Court decisions already in esse at the time of such withdrawals.  We elucidated in the 1990 case of Simex International, Inc. v. Court of Appeals,[27] that "the bank is under obligation to treat the accounts of its depositors with meticulous care, always having in mind the fiduciary nature of their relationship."[28]