Salmon Bank sets P1.2-B investment plan ahead of thrift banking transition

Salmon Bank is targeting to infuse at least P1.2 billion in fresh capital over the next two years as it prepares to transition from a rural bank to a thrift bank as part of its broader strategy to expand nationwide.

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Salmon Bank chairman and co-founder Raffy Montemayor said the group plans to inject at least P600 million before the end of 2025, bringing its equity to about P1.4 billion, and another P600 million in 2026 to support rapid growth and regulatory requirements for a thrift bank license.

“We continue to prepare ourselves to apply for a thrift bank next year,” Montemayor said.

“In terms of capital, we're already there. But we want to make sure we complete key investments in people and in technology before we apply,” he said.

He added that the upgrade would mark a significant step toward operating ona nationwide scale, allowing the bank to combine a strong digital platform with an expanded physical presence.