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Today: Jun 13, 2024

Salmon’s Fintech Flair: Rural Bank’s Filipino Heart in Acquisition

1 min read

Fintech startup Salmon has received approval from the central bank of the Philippines to acquire a majority stake in the Rural Bank of Sta. Rosa (Laguna). With this acquisition, Salmon will own 59.7% of the bank, allowing it to introduce AI-centric consumer credit and debit products across the Philippines. This move aligns with the BSP’s Rural Bank Strengthening Program and Salmon’s commitment to financial inclusion. Salmon plans to expand its operations in underserved regions and open new branches pending BSP approval.