Insider Spotlight
The lender named Raffy Montemayor as deputy CEO and executive director, transitioning from his previous role as chair. He will work alongside George Chesakov, who remains president, CEO, and executive director, in executing 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 in a statement.
The move comes as Salmon Bank scales up operations following rapid growth in its lending and asset base over the past year.
Why it matters
The appointments signal Salmon Bank’s intention to strengthen governance structures while expanding its footprint in the Philippine banking sector, where digital challengers are increasingly competing with traditional lenders.
To bolster oversight, the bank appointed Atty. Eunice Monsod as chair. Monsod currently serves as chief compliance officer of Salmon Group, the parent company of Salmon Bank, bringing regulatory and governance expertise to the role.
Meanwhile, Chris Nelson joined the board as independent director. Nelson is vice chair of the British Chamber of Commerce Philippines and previously served as director and board advisor at Philippine National Bank.
The bank said Nelson’s “decades long experience of operating in the Philippine market” would contribute international business insight and leadership to the board.
By the numbers
Salmon Bank reported strong financial growth in 2025, with its total loan portfolio expanding 2.3 times year-on-year to P3.2 billion.
The bank also maintained a net interest margin of 40 percent, which it described as among the strongest in the industry, while total assets climbed 2.3 times to P4.4 billion.
Further supporting its growth plans, Salmon Bank said it is increasing equity capital to P1.6 billion through a fresh P400 million capital injection from controlling shareholder Salmon Group Ltd. —Vanessa Hidalgo | Ed: Corrie S. Narisma
