3 banks, 2 other groups eye Unitrust Bank

At least three local thrift banks and the two groups squabbling over closed Unitrust Development Bank have expressed interest in acquiring the bank.

Meanwhile, preliminary investigation by the Philippine Deposit Insurance Corp. (PDIC) showed the bank is still solvent even if its capital is less than the minimum requirement for a thrift bank and there is a good possibility the bank can be rehabilitated.

Nazareno, however, declined to named the three local thrift banks interested in getting Unitrust.

On the bank’s financial state, Nazareno said. "The preliminary figures we saw show that the bank is still solvent and the main reason they declared a bank holiday last Jan. 4 was because of the management squabble which was aggravated by the fact that about 70 percent of the workforce quit."

Based on initial findings, Nazareno said rehabilitating the bank, instead of liquidating the assets is still possible.

Nazareno said the key to the bank’s rehabilitation is for the bank shareholders representing the major owners or legal majority of 67 percent, to consent to the recovery program.

"We have to resolve several issues, especially the real ownership of the bank, and if the Japanese are the real owners, they should pass the fit and proper rule of the central bank," Nazareno said.

Previously, former Unitrust chairman Jensuke Inoue claimed he arranged the purchase of Unitrust from the previous owners led by Jose Yulo Jr. on behalf of Ogami.

Ogami is believed to be the owner of two firms that bought 20 percent each of Unitrust in September last year. He said he used three Filipino dummies that got 20 percent each.

Ogami though does not appear in any official document as the real owner of the bank although some bank employees said a memorandum was issued by the businessman himself sometime in November, claiming ownership of the bank. – Rocel Felix