Vergara raps attempts to discredit bank

Equitable PCI Bank president and CEO Wilfrido V. Vergara decried yesterday attempts to discredit the bank following recent reports regarding the personal friendship of Equitable PCI Bank’s chairman George L. Go with President Estrada.

"We deplore attempts to discredit the bank as a professional organization because of the personal friendship of our chairman. Mr. Go’s personal affairs are his own and his professional matters are the bank’s," Vergara said, in a statement.

He said: " We recognize the right of our people–from all levels of the organization–to have personal and social relationships. We also recognize that personal matters and affairs are never to conflict with professional considerations."

Equitable PCI Bank vice president Elbert Zosa also deplored such an attempt to discredit the bank.

He pointed out that the bank is considered one of the strongest banks in the country by leading international credit rating agencies such as Standard and Poors and Moody’s Investor Service.

Equitable PCI Bank, Zosa said, is among the most liquid in the local banking system, the third highest capitalized in the country, and the 12th ranked in capital in all of Asean.

The bank’s total assets amounted to P273 million while its capital was recorded at P46 million. As of the third quarter, the bank reported a profit of P1.177 billion.

The professional performance of Equitable PCI Bank has merited awards as Best Bank in the Philippines from two leading international publications, Euromoney and The Banker. This is supported by the bank’s credit ratings that are among the best in the country.

"We have the systems, procedures, technology, and safeguards in place which makes manipulation impossible. We have a heritage of integrity a half century old," Vergara said.