Salmon Bank nearly triples deposits and equity in third-quarter results

Makati City, 29 October 2025 — Salmon Group Ltd said its banking arm, Salmon Bank (Rural Bank) Inc., nearly tripled deposits and equity year-on-year in the third quarter of 2025, while growing its loan portfolio by more than 40% quarter-on-quarter.

Salmon Bank (Rural Bank) maintained a capital adequacy ratio three times higher than the requirement set by the Bangko Sentral ng Pilipinas (BSP), even as it expanded rapidly, the bank said.

Salmon Bank (Rural Bank) announced the results at Salmon Press Day, held at Blackbird Makati. The event marked the bank’s transformation from the 60-year-old Rural Bank of Sta. Rosa into a technology-driven bank operating under Salmon Group. Raffy Montemayor, Co-founder of Salmon Group and Chairperson of Salmon Bank, described Salmon Bank (Rural Bank) as combining the stability of a regulated bank with Salmon’s speed and technology, and said the bank is growing responsibly under strong governance and compliance.

Salmon Bank (Rural Bank)’s high-yield time deposits have drawn strong demand from savers. A ₱1,000,000 deposit earns about ₱67,000 in one year — more than twice the return offered by most traditional banks, according to the bank.

The bank reported a 99% payment success rate and a 4.8-star rating on app stores. Its hybrid support model, which combines AI technology with human service, resolves half of all customer inquiries instantly, and 80% of users rate their experience as highly satisfactory.

Salmon Bank (Rural Bank) plans to expand its offerings in 2026 with Daily Banking, which will integrate payments, cards, and transfers into the Salmon app. Montemayor said the bank’s focus is to make banking simpler and fairer for Filipinos by serving customers honestly, managing risk carefully, and growing in a way that lasts.

“These results show that responsible growth works,” said Montemayor. “We continue to deliver strong performance while ensuring the safety and trust of our customers.”

About Salmon Group Ltd (salmon.ph)
Salmon Group Ltd operates a BSP-regulated bank, Salmon Bank (Rural Bank) Inc., and a SEC-licensed financing company, Sunprime Finance Inc., in the Philippines. Salmon is on a mission to build the best credit-led, technology-centric bank in Southeast Asia, with the Philippines as its first market. Founded in July 2022 by banking and technology veterans Pavel Fedorov, George Chesakov, and Raffy Montemayor, Salmon uses AI-enabled technology and a proprietary credit engine to offer consumer credit, providing differentiated simplicity, quality of service, and convenience to its customers.

Salmon’s mobile application is rated 4.8 in both App Store and Google Play — one of the highest ratings for a financial services app in the Philippines. Among Salmon customers, 92% recommend its services to their friends and family.