Salmon Bank makes key leadership appointments
SALMON BANK (Rural Bank), Inc. has made new appointments to its leadership team to strengthen its governance and support its growth goals.
Former chairman Raffy Montemayor will transition to being Salmon Bank’s deputy chief executive officer and executive director, it said in a statement.
“Raffy will work closely with George Chesakov, who remains Salmon Bank’s president, CEO, and executive director, to oversee the company’s growth strategy,” it said.
“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.”
Meanwhile, Salmon Group Ltd. Chief Compliance Officer Eunice Monsod was appointed as Salmon Bank’s new chairperson.
Salmon Bank has also appointed Christopher J. Nelson as independent director. Mr. Nelson is the British Chamber of Commerce Philippines’ vice chairman. He formerly served as Philippine National Bank director and board advisor.
“He brings valuable international business insight and leadership experience to Salmon Bank’s board,” the bank said.
“These leadership changes mark an important step in Salmon Bank’s continued expansion and commitment to operational excellence, following an impressive performance in 2025.”
Salmon Bank’s total loan portfolio expanded by 130% to P3.2 billion last year, while net interest margin was at 40%.
Its total assets likewise grew by 130% to P4.4 billion in 2025.
The bank is in the process of increasing its equity to P1.6 billion upon the completion of fresh capital injection of P400 million from its controlling shareholder Salmon Group. — A.M.C. Sy
