Fintech startup Salmon becomes licenced bank in the Philippines


Share post:

Consumer credit fintech Salmon has become a licenced bank in the Philippines after acquiring a controlling interest in Rural Bank of Sta. Rose.

The bank said that after the acquisition is completed in the next few weeks, Salmon will hold 59.7% of the bank. Considering the bank’s license and geographic reach, Salmon will be able to provide consumer credit and debit products across the country.

According to the company, the agreement will increase millions of underbanked Filipinos’ access to contemporary banking services in major areas like Metro Manila, Cebu, and Davao, where Salmon intends to open new branches, pending BSP approval.

Read More: Fintech startup Salmon becomes licenced bank in the Philippines

TalkFintech Bureau
TalkFintech Bureau
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.


Please enter your comment!
Please enter your name here


Related articles

BNP Paribas and Ant International Partner To Improve Cross-Border Payment Solutions In Europe

BNP Paribas, a bank in the European Union, has partnered with Ant International, a digital payments and financial...

Wirex And Visa Collaborate To Promote Use Of Digital Currencies In The UK And The European Economic Area (EEA)

Wirex, a Web3 money app, and Visa, a leader in digital payments, have announced a partnership to promote...

Transend Partners With Midland States Bank To Offer Innovative POS Solutions

Transend, a company that offers working capital solutions to businesses, has announced a new partnership with Midland States...

Three in ten adults have been a victim of financial fraud; spurring industry to continue investment to protect consumers

As fraud rates continue to rise, nearly all adults in the UK (94%) now say they are taking...