Salmon Bank said it has reorganized its leadership team as the rural bank continues to expand operations and strengthen corporate governance.
The bank announced that Raffy Montemayor has been appointed deputy chief executive officer and executive director, moving from his previous role as chairman.
Montemayor will work alongside George Chesakov, who will remain president, CEO, and executive director, in overseeing 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,” the bank said.
Meanwhile, Eunice Monsod was appointed chairperson of Salmon Bank. Monsod currently serves as chief compliance officer of Salmon Group, the parent company of Salmon Bank.
The bank also named Chris Nelson as independent director. Nelson currently serves as vice chairman of the British Chamber of Commerce Philippines and is a former director and board adviser of [Philippine National Bank.
“[Nelson] brings invaluable international business insight and leadership to Salmon Bank’s Board with decades long experience of operating in the Philippine market,” the bank said.
Salmon Bank said the management changes come as the lender posted growth in 2025.
According to the bank, its total loan portfolio grew 2.3 times year-on-year to P3.2 billion, while total assets also increased 2.3 times to P4.4 billion. It added that its net interest margin remained at 40%.
The bank also disclosed that it is in the process of increasing its equity capital to P1.6 billion through a fresh capital infusion of P400 million from controlling shareholder Salmon Group Ltd.
