The Bank of the Philippine Islands (BPI) executive confirmed Wednesday the existence of a ₱40.65-million joint time deposit account opened under the names of Vice President Sara Duterte and her father, former President Rodrigo Duterte.

BPI Central Metro Manila Branches Division Head Marwin Galvez identified the account during the 35th day of Vice President Sara Duterte’s impeachment trial after private prosecutor James Bryan Alih presented a time deposit certificate to the witness.

Galvez testified that the time deposit was opened on January 22, 2010, at BPI’s Julia Vargas branch, with a principal amount of ₱40.65 million.

Galvez testified that the time deposit was renewed or rolled over 12 times, eventually reaching ₱41.7 million.

Alih asked Galvez about the amount of the deposit at the time of its last renewal on February 11, 2011.

“Based on the last rollover, including interest rate, the final balance would be ₱41,721,035.42,” Galvez said, noting that the figures on the document were not very clear.

Galvez also testified that after the time deposit matured, ₱41,721,035.62 was credited on March 9, 2011, to a BPI Julia Vargas account ending in 9539.

A manager’s check for a similar amount was purchased in March 2011, but an October 11 credit and debit memo showed that the check was not utilized, according to Galvez.

Alih said the prosecution was seeking to establish a pattern similar to a separate ₱55-million time deposit that was converted into a manager’s check.

The prosecutor said the use of manager’s checks could allow funds to remain outside year-end account balances while the checks were still “floating.”

He explained that a time deposit is a bank account with a principal amount, fixed term, interest rate and maturity date.

On the same day, a manager’s check for the same amount was purchased, according to Galvez’s testimony.