Estelito Mendoza, counsel of businessman Eduardo “Danding” Cojuangco Jr., said Monday that his client had nothing to do with the election of Jeronimo Kilayko as the new president and chief executive officer of United Coconut Planters Bank (UCPB).
Mendoza pointed out that the UCPB board was composed of government representatives of the Presidential Commission on Good Government, and so they have the power to name the top executive of the controversial bank.
As to the supposed billions of pesos in loans extended to Cojuangco, Mendoza said that it was “moot and academic” to discuss them because the loans had already been paid and it was no longer material to discuss how the loans were extended.
“Whether the loans were extended as a favor or not is no longer material because the payments on the loans were willingly received by UCPB,” Mendoza told the Philippine Daily Inquirer in a phone interview Monday.
Jeronimo “Jerry” Kilayko, president and CEO of UCPB, said he wanted to see the Inquirer report first before giving his reactions.
Kilayco said the “new board will meet and discuss its priority agenda, one of which is the program for the coconut farmers.” With a report from Doris C. Dumlao