Former FG Mike Arroyo had nothing to do with these loans. The fact of the matter is that DBP saw a good opportunity to make major profits and simply took that opportunity. It was a judgment call on DBP's part which proved to be totally correct and in the process, earned for the bank a record profit of over P1.3 billion," he said in a statement. Ongpin also cast doubts about Osmen's "witnesses", saying they would be committing perjury if they testify.
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