Atty. Juan De Zuñiga, Jr., Former BSP Monetary Board Member, Joins the Board of Salmon’s Subsidiary Bank

Manila, Philippines – Salmon, the financial technology group transforming consumer finance across Southeast Asia, is proud to announce the appointment of Atty. Juan De Zuñiga, Jr., a former Monetary Board Member of the Bangko Sentral ng Pilipinas (BSP), as an independent director on the Board of the Rural Bank of Sta. Rosa (Laguna), Inc. (“Bank”), a Salmon subsidiary.

Atty. De Zuñiga brings over four decades of distinguished legal, regulatory, and governance experience in Philippine banking. As a former Deputy Governor and General Counsel of the BSP, he played a pivotal role in shaping banking regulations, enforcing financial laws, and promoting good governance across banks of all sizes. Most recently, he served as the Director Representing the Private Sector of the Philippine Deposit Insurance Corporation (PDIC). His appointment in the Bank is currently undergoing standard BSP confirmation.

The appointment reflects Salmon’s commitment to building world-class governance and regulatory alignment, as the company builds a next-generation finance platform in the Philippines and beyond, with support from the International Finance Corporation (World Bank Group) and ADQ/Lunate, the Abu Dhabi sovereign wealth fund. Atty. De Zuñiga’s addition to the Board further enhances the Bank’s oversight capability, legal robustness, and institutional standing with key external stakeholders.

“We are honored to welcome Atty. Juan De Zuñiga to the Board,” said Raffy Montemayor, Co-Founder of Salmon and Chairman of the Bank. “His deep understanding of the Philippine financial system and lifelong dedication to regulatory integrity are invaluable to us as we continue building a responsible, inclusive, and tech-driven bank that offers a best-in-class 8.88% time deposit product.”

The Bank is guided by a distinguished group of independent directors, including Retired Supreme Court Justice Andres B. Reyes, Jr., Romulo Senior Partner Atty. Perry L. Pe, and veteran banker Mr. Wilfredo Perry B. Morales. The Bank serves as the foundation of Salmon’s credit-led, tech-enabled expansion in the Philippines.

Atty. De Zuñiga’s legal acumen and leadership in public service have earned him respect across the financial industry, and he is widely recognized as one of the Philippines’ foremost authorities on banking law and governance. His appointment underscores Salmon’s long-term strategy of pairing technological innovation with the highest standards of fiduciary stewardship.

About Salmon (https://salmon.ph) 
Salmon Group Ltd operates the Rural Bank of Sta. Rosa (Laguna), Inc., a BSP-regulated bank, and Sunprime Finance Inc., an SEC-licensed financing company in the Philippines. The company’s mission is to build the leading credit-led, technology-enabled 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 leverages AI-driven technology and a proprietary credit engine to offer a range of consumer credit products — including Salmon Credit, Salmon Installment, and Salmon Cash Loans. These services are designed to deliver simplicity, high-quality service, and convenience to customers.

The Salmon mobile app is among the highest-rated financial services apps in the Philippines, with scores of 4.8 on the App Store and 4.7 on Google Play. Notably, 92% of customers recommend Salmon to friends and family.

In 2024, backed by the strength of its consumer loan portfolio, the Rural Bank of Sta. Rosa (Laguna), Inc. launched the Salmon Time Deposit, which offers one of the most attractive interest rates in the country at 8.88%.