Salmon Bank gets P400-M capital boost from parent

SALMON BANK (Rural Bank), Inc. has received P400 million in fresh capital from its parent company Salmon Group Ltd to support its continued asset growth and the rollout of new products.

The capital injection will bring the lender’s total equity to P1.6 billion by the end of March once it is completed from P1.2 billion at end-2025, Salmon Bank said, with the total capital invested by Salmon Group to reach P1.3 billion.

This will also improve its core equity Tier 1 ratio to 23.1% from 16.1% and its total Tier 1 ratio to 29.2% from 22.8%.

It said this will make Salmon Bank one of the best capitalized tech-centric banks in the Philippines. “The investment also reinforces Salmon Bank’s ability to scale responsibly whilst maintaining strong liquidity and capital adequacy, as it expands access to financial services in the Philippines,” it said.

“2025 was a breakout year for Salmon Bank. We scaled well, with strong governance and high capital discipline. This additional funding enables us to continue that momentum in 2026 — as we grow responsibly and deliver game-changing services that elevate the way Filipinos bank,” Salmon Co-founder and Director and Salmon Bank Chairperson Raffy Montemayor said.

He said in October last year that they want to bring the bank’s total capitalization to P2 billion before the end of 2026 as it plans to apply for a thrift banking license.

Salmon Bank more than doubled its client base year on year in 2025, driven by high demand for its deposit products, particularly its 8% time deposit offering.

“This year, the bank continues to see this growing demand as customers look for products that combine strong returns with predictability and security,” Salmon Bank said.

Based on its balance sheet, the bank’s total deposits stood at P2.8 billion at end-2025.

Its net loans were at P2.94 billion, while gross loans were at P3.58 billion. The bank’s gross nonperforming loan ratio stood at 2.1%.

Total assets were at P4.35 billion at end-2025.

Return on equity was at 0.57%, while return on assets stood at 0.2%. It also recorded a net interest margin of 40.12%.

Salmon Co-Founder Pavel Fedorov earlier said he expects the bank to double its key financial metrics every six to nine months. — Aaron Michael C. Sy