Bilyonaryos gather behind Yuchengco amid RCBC crisis
More Bilyonaryos are expressing full support to Rizal Commercial Banking Corp. (RCBC) of Bilyonaryo Alfonso Yuchengco after being linked to the $81 million bank heist.
Diversified conglomerate Ayala Corp., JG Summit Holdings Inc. of taipan John Gokongwei, and the Phinma Group of Companies of Bilyonaryo Ramon del Rosario vouched for the integrity of RCBC.
Eric Francia, president and chief executive officer of Ayala’s AC Energy Holdings Inc. and AC Infrastructure Holdings Corp., said the conglomerate is continuing its partnership with RCBC despite the ongoing investigation on the alleged laundering of the funds stolen by hackers from the Bangladesh Bank.
“RCBC has been a reliable and consistent supporter of Ayala’s energy and infrastructure projects. We hope to continue this partnership as we pursue more initiatives that contribute to national development,” Francia said.
“On behalf of the JG Summit Group, I would like to express our solidarity and confidence in RCBC under your firm leadership. RCBC has for many decades been a strong supporter of the JG Summit Group, and has been a vital partner in our continuing growth,” JG Summit president Lance Gokongwei said
He said a team of RCBC professionals continues provide the company with a full suite of banking products including cash management, deposits, loans and transaction services.
“In the many years of our partnership, the JG Summit Group and RCBC have operated under a relationship of deep trust and confidence. We expect this relationship to remain unwavering, and fully expect it to further deepen and strengthen in the coming years. Rest assured of our continuing trust and partnership in your leadership and RCBC in the decades to come,” he said.
“Phinma Group Treasury continues to treasure its banking relationship with RCBC,” said Phinma senior vice president and treasurer Pythagoras Brion.
Businesses that are standing behind RCBC include diversified conglomerate San Miguel Corp. (SMC),CLSA Exchange Capital Corp., All Asian Countertrade Inc., Liwayway Group, Megaworld Corp. of taipan Andrew Tan, Manuel Villar’s Vista Land, Edgar Sia of Double Dragon, and the Laus Group of Companies.