Salmon Bank (Rural Bank) Increases Equity Capital to PHP 1.6 billion, with a PHP 400 million Capital Injection from Salmon Group – Making It One of the Best Capitalized Tech-Centric Challenger Banks in the Philippines

Manila, March 3, 2026 - Salmon Bank (Rural Bank) Inc. has secured an additional capital injection of PHP 400 million from its controlling shareholder, Salmon Group Ltd. With this investment, the equity capital of Salmon Bank would reach PHP 1.6 billion; the total capital invested by Salmon Group Ltd to upgrade Salmon Bank would reach PHP 1.3 billion. The capital injection is expected to be completed by the end of March 2026.

The additional investment will strengthen the Bank’s equity base to support its continued asset growth as well as the rollout of new products, which are integral to its expanding banking platform. On a pro-forma basis (based on the December 31, 2025, balance sheet), this injection takes the total stockholders’ equity of the Bank from PHP 1.2 billion to PHP 1.6 billion and improves Salmon Bank’s Core Equity Tier 1 Ratio from 16.1% to 23.1%. The total Tier 1 Ratio would improve from 22.8% to 29.2%.

Both on an absolute and a relative basis, this positions Salmon Bank as one of the best capitalized tech-centric challenger banks in the country. 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.

“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,” said Raffy Montemayor, Co-Founder of Salmon and Chairman of Salmon Bank (Rural Bank).

In 2025, Salmon Bank more than doubled its client base year-on-year – driven by the high demand for its deposit products, including 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. To attest to the quality of the business of Salmon Bank, based on the published Q4 2025 statements, its gross NPLs stood at 2.1%, one of the lowest levels among other challenger and digital banks.

Salmon Bank is majority-owned by Salmon Group Ltd. Salmon Group is a global financial technology group backed by world-class investors, including International Finance Corporation (IFC), a member of the World Bank Group; the sovereign wealth fund and asset managers out of Abu Dhabi; and leading U.S. venture investors.

About Salmon Bank (salmon.ph/salmonbank)

Salmon Bank (Rural Bank) Inc. is a technology-driven challenger bank in the Philippines and part of Salmon Group. Originally founded in 1963, the bank was acquired and rebuilt from the ground up, becoming one of the fastest-scaling rural banks in the country. Today it combines the trust of a BSP-licensed institution with the speed and seamless experience of a modern digital product.

About Salmon Group (salmon.ph)

Salmon Group is a technology-driven financial company building a banking and lending platform across Southeast Asia, starting with the Philippines. The Group operates a BSP-licensed bank, Salmon Bank (Rural Bank) Inc.; an SEC-licensed financing company, Salmon Finance Inc.; and a growing suite of financial products – all delivered through the Salmon app, a modern money app built for everyday Filipinos. Founded in July 2022 by banking and technology veterans Pavel Fedorov, George Chesakov, and Raffy Montemayor, Salmon is backed by IFC (World Bank Group) and ADQ/Lunate. The Salmon app is rated 4.8 in both the App Store and Google Play, one of the highest ratings for a financial services app in the Philippines.

in the Philippines.