No role in management of Urban Bank - Ramos

Former President Ramos said yesterday he had no role in the management and operations of the failed Urban Bank.

He said rumors that he played an active role in bank "are just that -- rumors."

Ramos said although the bank owners had named him chairman emeritus, he was not involved in policy and decision-making and in operations.

"It was just an honorary title and privilege," he stressed.

However, he added that as chairman emeritus, he was given a "little office space" on the 37th floor of the Urban Bank building in Makati, the floor that houses executive offices.

He said his Ramos Peace and Development Foundation rents an office space on the 36th floor and deposits in funds with Urban Bank.

"This foundation is both a client and a tenant of the bank," he said.

"We are more of a victim here. We will now have to wait in line to claim our deposits," Ramos added.

He commended the Bangko Sentral ng Pilipinas for moving swiftly to protect depositors of Urban Bank.