CEBU City Mayor Tomas Osmeña denied Thursday, April 6, the BDO Unibank Inc.'s applications for mayor's permit renewal, saying the bank failed and refused to submit the required documents to the City.

Osmeña said though that he will not order an immediate closure of BDO's 27 branches to give time to the depositors.

The mayor stated his decision in a letter addressed to Joseph Noem Sisican, area operations officer of BDO Unibank in Central Visayas, along with other branch managers.

The BDO branch in SM Seaside City Cebu is the only branch in the city that is not part of the mayor's order since it only started its operation this year. (Razel V. Cuizon/SunStar Cebu)