I watched the replay of Bancom rise and fall interview of SKR with Coco Alcuaz
Bancom attracted a lot of young graduates to join it in the 70s because it was a leader in innovation.
l. He invented creative legal team - how to get around legality to put up business;
2. He initiated the treasury bills system with the govt.
3. They saw the opportunity about the disparity of what the banks gave companies as savings rate and the overdraft rate that you could drive trucks into this.
4. They started the money market system;
5. They partnered with RCBC for having stronger balance sheet.
However as interested in economic development Bancom went into a lot of things that weakened the balance sheet of the company. When Dewey Dee fueled a bank run, and CB prevented them from discounting some of the papers, they had to fold up.
The Bancom rose up as Union bank. What a story.
P.S. One time I was in the reception area of CBP and I was ahead of SKR and I allowed him to go ahead of me. He looked handsome them with salt and pepper hair. He does not look that handsome now; he has long hair
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