Salmon Bank (Rural Bank) Further Strengthens its Leadership Team to Support Continued Growth

Manila, May 5, 2026 – Salmon Bank (Rural Bank) today announces the further strengthening of its leadership team, reflecting the continued expansion of its business and its commitment to best-in-class corporate governance.

Raffy Montemayor has been appointed as Deputy CEO and Executive Director of Salmon Bank, from his previous role as Chairman, to strengthen the executive depth of the bank. In his new capacity, Raffy will work closely with George Chesakov, who remains Salmon Bank’s President, CEO, and Executive Director, to oversee the execution of the bank’s growth strategy.

Raffy’s assumption of an executive role will help drive the bank’s continued expansion, bringing his deep institutional knowledge and leadership to the benefit of Salmon Bank’s operations.

As the bank continues building its top-class corporate governance, Atty. Eunice Monsod has been appointed as the new Chairperson of Salmon Bank. Eunice currently serves as Chief Compliance Officer of Salmon Group, the parent company of Salmon Bank, bringing extensive expertise in governance and regulatory compliance to her new role.

Additionally, as Salmon Bank continues to strengthen its Board of Directors, it brings some of the highest-profile business figures to the institution, including Chris Nelson, who was appointed as an Independent Director. Chris currently serves as Vice-Chairman of the British Chamber of Commerce Philippines, and is a former Director and Board Advisor at Philippine National Bank. He brings invaluable international business insight and leadership to Salmon Bank’s Board with decades of experience operating in the Philippine market.

These leadership changes mark an important step in Salmon Bank’s continued expansion and commitment to operational excellence, following the significant growth of the Bank’s operations over the last few years.

In 2025, Salmon Bank demonstrated strong growth across key financial metrics. It expanded its total loan portfolio by 2.3x year-on-year to PHP 3.2 billion; maintained its Net Interest Margin at one of the best levels in the industry of 40%; and grew its total assets by 2.3x year-on-year to PHP 4.4 billion.

Further reinforcing its growth trajectory, Salmon Bank is in the process of increasing its equity capital to PHP 1.6 billion upon the completion of a fresh capital injection of PHP 400 million from its controlling shareholder, Salmon Group Ltd.

About Salmon Bank

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 banks in the country. Today, it combines the credibility of a BSP-licensed institution with the speed and seamless experience of a modern technology-enabled product.