RCBC ready to face PEPC charges

Rizal Commercial Banking Corp. board vice chairman Cesar Virata said yesterday that the bank is prepared to clear itself of any charges of the Parents Enabling Parents Coalition (PEPC) in relation to the recent development involving Pacific Plans, Inc. (PPI).

Virata’s statement was in response to the reported intention of PEPC to file a complaint against RCBC at the Bangko Sentral ng Pilipinas on allegations that the bank violated BSP rules.

"We welcome this move as an opportunity for us to clear the bank of any allegations," said Virata. "Our track record will show RCBC’s integrity as one of the most trusted banking institutions in the country."

"While we hope that some amicable settlement can still be achieved between PPI and PEPC, our integrity as part of the Yuchengco Group must not be compromised by this issue," he continued.

RCBC is proud of its 45 years of stability and growth. As of first semester of 2005, the bank’s resources stood at P168.1 billion, 10.6 percent or P16.2- billion higher than 2004.