Ongpin leaves PBCom



MANILA, Philippines–Former Trade Minister Roberto V. Ongpin has stepped down as director and co-chair of commercial bank Philippine Bank of Communications.

PBCom disclosed to the Philippine Stock Exchange a letter from Ongpin quitting these posts dated Dec. 28 effective immediately.

This leaves Ongpin’s nephew Eric Recto in full control of the bank.  In May, Recto was named as chair of the bank albeit Ongpin who was then still co-chair.

Recto sits on PBCom concurrent to his post as president of oil refiner Petron Corp.

Ongpin is currently in the midst of a legal battle against the new board of the state-owned Development Bank of the Philippines due to alleged anomalous lending transactions to the former during the previous administration.

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  • jamesgeorge

    Mr. Ongpin, your brother Jaime,RIP is your exact opposite! All the elements of a behest loan was present in your case and you continue to deny that there is nothing wrong with your friendship with Mike Arroyo? Stop trying to fool the people!!! Just get your facts straight,face the consequences and point to the mastermind! How much was FG into the deal? If there is still shame left in you,spill the beans…and redeem yourself!

  • Weder-Weder Lang

    Kahit magtago ka pa sa Binondo, hahanapin ka namin hoy Ongpin! Mga switik intsik beho!

  • RyanE

    This guy is a certified crony of the Arroyos. Better to keep him under the radar screen as he may scape from the country to avoid prosecution.

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