Senator Antonio Trillanes, one of only a few politicians who regularly challenge the popular president, released copies of what he said were bank statements from 2006 to 2015, totalling 2.4bn pesos ($48mn) in numerous accounts, that he said belonged to Duterte and which he had failed to declare before his election last May.
According to the copies Trillanes released, some of the accounts were joint accounts that Duterte held with people close to him, including relatives.
Some were individual accounts in the names of other close associates, but Trillanes said all the accounts, even those that did not bear Duterte's name, actually belonged to him.
"If my allegations are proven wrong, I will immediately resign as senator," Trillanes, a former navy lieutenant who led a failed coup in 2003, told a news conference.
"The president has been vocal on his campaign against corruption, but how can we expect him to solve this problem when he himself had questionable amounts of money in his accounts?"
Trillanes had accused Duterte during the election campaign of keeping secret bank accounts.
In a radio interview, Duterte's legal counsel, Salvador Panelo, dismissed the allegations as "old issues" and said Trillanes was "only looking for free publicity".
Duterte's spokesman, Ernesto Abella, said the president may release the history of his bank transactions, "if necessary", but not in response to the senator's allegations.
"It's a rehash of the items already discussed three days before the election," he said, adding the president was ready to release bank documents showing the balances and the history of the transactions, but "not in response to grandstanding".
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