Rep. Mike Defensor presses DBP on Lopez Group loans

February 22, 2021

During the House committee on good government and public accountability hearing on Wednesday, Anakalusugan partylist Representative Mike Defensor pressed the the Development Bank of the Philippines (DBP) on the issue of the Lopez Group of Companies’ soured loans.

Defensor asked if the loans have collaterals to which Lawyer Soraya Adiong of the DBP’s Legal Services Group responded saying that there were none.

“Wala, Sir. Not on a specific property…” she said.

Defensor pressed even harder.

“Samakatuwid, laway para sa akin. Walang ibinigay na collateral, ‘yung kanilang pagkatao ang ginamit niya…” he said.

“Isang bilyon ho ito… ang hirap hong umutang eh kahit na ho ‘yung bridge facility, kailangan maglagay ka ng collateral o garantiya tungkol dito,” he added.

The DBP has already been taking into account an individual’s net worth when it comes to borrowing money, Adiong further said.

The DBP previously clarified that the Lopez Group’s soured loans have not been written off and that the non-performing debts are now in the hands of Lehman Brothers Asia Limited.

The next hearing will be on February 23.

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