The Rural Bank of Sta. Rosa (Laguna) Inc., operated by the Salmon Group, announced on Tuesday that it is lowering its time deposit rates for new customers after strong demand from its previous high offerings.
Under the new rates, one-year deposits will earn 6.0%, while two- and three-year deposits will have 6.5%. Previously, the bank offered time deposits at 8.88%.
“As the inflow of customers increases and our business grows — with the Bank expanding more than 10x on key metrics — we are now taking steps to reflect this maturity in our deposit rates. That is why we have introduced a new deposit rate for incoming customers,” chairman Raffy Montemayor said.
Montemayor also said the bank aims to sustain loan growth in the second half of 2025 after recording a 44.82% increase in the first six months.
The bank is finalizing its application with the Bangko Sentral ng Pilipinas (BSP) for an advanced electronic payment and financial services (EPFS) license. This will allow customers to access more digital services, including fund transfers and bills payments.
For the first half of 2025, the bank reported strong financial performance, posting a return on equity (ROE) of 58.9%, return on assets (ROA) of 24.9%, and a capital adequacy ratio (CAR) of 32.7%, outperforming the rural banking industry average.