A spokesman says the Philippine president respects a reported investigation being conducted by an anti-graft agency into allegations that he has undeclared wealth hidden in past bank accounts, adding "the president has nothing to hide."

Presidential spokesman Ernesto Abella issued the statement Wednesday in reaction to news reports that the Ombudsman, a key government anti-graft agency, has been looking into the allegations against President Rodrigo Duterte and that it has obtained his bank transaction records.

The ABS-CBN TV network cited Deputy Ombudsman Arthur Carandang as saying his agency has received Duterte's bank records from before he became president from 2006 to 2016 showing millions of pesos (millions of dollars) being transacted in joint accounts with his children. Duterte has denied any wrongdoing.