MANILA, Philippines — Fintech-driven Salmon Bank is significantly strengthening its financial position after securing ₱400 million in fresh capital from its parent company, Salmon Group Ltd.
- Total Equity: The infusion raises the bank’s total equity to ₱1.6 billion, with Salmon Group’s total investment in the lender reaching ₱1.3 billion.
- Capital Ratios: The move lifts the bank’s Core Equity Tier 1 ratio to 23.1% (up from 16.1%), which is nearly four times the Bangko Sentral ng Pilipinas (BSP) minimum requirement of 6%.
- Investors: Salmon is backed by global heavyweights including the International Finance Corp. (IFC), Abu Dhabi’s sovereign wealth fund, and various American venture capital firms.
Following what co-founder Raffy Montemayor described as a “breakout year” in 2025, Salmon Bank reported:
- Customer Growth: Its client base more than doubled year-on-year.
- Competitive Rates: Growth was largely driven by deposit products offering interest rates as high as 8%.
- Asset Quality: Non-performing loans (NPL) remained low at 2.1%, outperforming much of the broader banking industry.
With its strengthened balance sheet, Salmon Bank is now preparing to apply for a thrift bank license, moving up from its current rural bank status. Montemayor indicated the group is eventually eyeing a capital base of ₱2 billion to support its goal of becoming one of the most well-capitalized “challenger banks” in the Philippines.
