Salmon Group has disrupted rural banking with its startup strategy model for Rural Bank of Sta. Rosa by strengthening the capital base and accelerating digitalization to drive financial inclusion.
Salmon Co-Founder and Rural Bank of Sta. Rosa Chairperson Raffy Montemayor highlighted the importance of sustainable funding and digital transformation to improve the bank’s products and services and enhance customer experience.
“We are injecting fresh capital to make Rural Bank of Sta. Rosa a robust financial institution by attracting notable investors such as the International Finance Corp. (IFC), Singapore based venture capital fund manager NorthStar Group and Abu Dhabi’s sovereign wealth fund ADQ,” Montemayor revealed. “The latest investment we received was $7 million from IFC last May,” he added.
The capital injection saw the bank equity of Rural Bank of Sta. Rosa increase by 1,075% to PHP 385 million from PHP 32.8 million. The bank’s total deposits soared by 439% to PHP 440 million from PHP 82 million and bank loans increasing by 648% to PHP 400 million from PHP 54 million as of end of May.
Montemayor emphasized the role of technology in the development of Rural Bank of Sta. Rosa’s products and customer experience to expand its customer base beyond its physical branches.
“We are planning to launch our mobile app and debit card within the year subject to the approval of Banko Sentral ng Pilipinas (BSP) to reach customers,” Montemayor said.
Offering a Competitive 8.88% Time Deposit Interest Rate The Rural Bank of Sta. Rosa is offering a competitive 8.88% interest rate for time deposits of
over P500,000 which is especially beneficial for those in Sta. Rosa and nearby residents.
For time deposits of PHP 50,000 – PHP500,000, the bank is offering 6% interest rate for 12 months.
Montemayor said that the 8.88% time deposit interest rate offer of Rural Bank of Sta. Rosa has no catch or promo period.
“Earning our competitive 8.88% interest rate is straightforward. Simply deposit more than P500,000 to a maximum of P50,000,000. No hidden fees or complex requirements involved,” he said.
To avail of the 8.88% offer, simply visit or call the following branches:
Head Office: Sta. Rosa, Laguna (F. Gomez St., Poblacion, Barangay Malusak, City of
Sta. Rosa, Laguna 4026). Contact Edward Daniel A. Dela Cruz at (049) 534-1126 or
0997-952-7783.
Branch: Bacoor, Cavite (Evangelista Street, Barangay Daang Bukid, Bacoor, Cavite
4102). Contact Arthur Castor at (046) 434-6197 or 0955-861-7848.
Montemayor also disclosed the plan to add new physical branches set to be located in Metro
Manila, Cebu and in Mindanao either in Davao or Cagayan de Oro.
