Salmon Bank (Rural Bank) today announced significant updates to its leadership team, reinforcing its commitment to sustained growth and strong corporate governance.
Raffy Montemayor has been appointed as Deputy CEO and Executive Director of Salmon Bank, transitioning from his previous role as Chairman. In his new capacity, Raffy will work closely with George Chesakov, who remains Salmon Bank’s President, CEO, and Executive Director, to oversee the company’s growth strategy.
Raffy’s transition to an executive role will help drive the bank’s continued expansion, bringing his deep institutional knowledge and leadership closer to Salmon Bank’s core operations.
Following Raffy’s move, 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 the role.
In addition, Salmon Bank has appointed Chris Nelson 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 of the main board of the Philippine National Bank. He brings valuable international business insight and leadership experience to Salmon Bank’s Board.
These leadership changes mark an important step in Salmon Bank’s continued expansion and commitment to operational excellence, following an impressive performance in 2025.
Last year, 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 a healthy 40%; and grew its total assets by 2.3x year-on-year to PHP4.4 billion.
Further reinforcing its growth trajectory, Salmon Bank is in the process of increasing its equity capital to PHP1.6 billion upon the completion of fresh capital injection of PHP 400 million from its controlling shareholder, Salmon Group Ltd.
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