Latest news with #Montemayor
GMA Network
5 days ago
- Business
- GMA Network
Salmon's rural bank eyes sustained loan growth in H2 2025
Financial technology firm Salmon Group Ltd. on Wednesday said its subsidiary Rural Bank of Sta. Rosa (Laguna) Inc. is looking to sustain its loan growth in the second half, after growing by 44.82% in the first six months. According to Salmon co-founder and Rural Bank of Sta. Rosa chairperson Raffy Montemayor, the bank grew by 1.4 times to P1.316 billion in the first half of the year from P908.7 million in 2024, which it aims to sustain, if not exceed in the second half. 'We hope. That's what we're working towards, that we'll have faster growth in the second half. It really depends on our deposit taking performance,' he told reporters in Bonifacio Global City in Taguig. 'It's hard for us to project because it's all about how much deposits can we grow in order to accommodate the growth in the loan portfolio, so that's very difficult to project,' he added. The bank's first-half loan portfolio was made up primarily of point-of-sale installment loans or product loans, which allow customers to fund their purchases with retail partner stores. Montemayor said the loan growth would largely depend on the growth of the bank's deposits, which jumped 63% to P952.8 million in the first half from P584.3 million last year. This is expected to grow further, as the bank is set to allow customers to apply for time deposits on the mobile application moving forward. 'The second half of 2025 may be very different to the first half in deposits and as a result, may be very different on loan growth so it's difficult to provide a projection, but we expect it to continue to grow and grow significantly versus the same period last year,' he said. Advanced EPFS license Montemayor also said the bank is now finalizing its application with the Bangko Sentral ng Pilipinas (BSP) for an advanced electronic payment and financial services (EPFS) license, which will allow customers to make more digital services such as fund transfers and bills payments. He earlier said the bank would apply for the advanced EPFS license in July, but on Wednesday said this has been delayed as the company had to iron out details, and that this is now expected to be filed within the month of August. Under BSP Circular 1033, an advanced EPFS allows supervised financial institutions to offer fund transfers and other transactions beyond primary services such as account balance inquiries, that are included in the basic EPFS license. Montemayor said he is also set to do ocular inspections of the potential sites for the three branches that are expected to be put in by 2026 in the coming week — one in BGC, one in Cebu, and one in Cagayan de Oro, complementing the two it already has in Sta. Rosa, Laguna, and Bacoor, Cavite. The bank ended the first half with a return on equity (ROE) ratio of 58.9%, return on assets (ROA) of 24.9%, and capital adequacy ratio of (CAR) of 32.7%, outperforming the average of rural banks across the country during the period. 'We're very healthy. We have the equity needed to make investments to protect the bank from any external shocks, so we're very proud of that achievement,' Montemayor said. Salmon last year said it targets to grow its loan portfolio to $2 billion in the next three to five years, as it seeks to expand its customer base by catering to what it calls the 'neglected' market and stepping into other countries in Southeast Asia. It ended 2024 with a P1.2-billion loan portfolio. —VAL, GMA Integrated News
GMA Network
29-06-2025
- Business
- GMA Network
Salmon Bank to apply for advanced EPFS license in July
Financial technology firm Salmon Group Ltd. is set to apply for an advanced electronic payment and financial services (EPFS) license with the Bangko Sentral ng Pilipinas (BSP) by July, which will allow customers to make more digital services such as fund transfers and bills payments. According to Salmon co-founder Raffy Montemayor, the Rural Bank of Sta. Rosa (Laguna) or Salmon Bank is set to apply for the advanced EPFS license by July in a bid to boost its daily banking products. 'That one requires an advanced EPFS license, so we're in the process of preparing for that… We're just about to put it together. By next month we would want to apply for the advanced EPFS so that we can build towards a daily banking suite of products,' he told GMA News Online in an interview. 'Daily banking for us is about the suite of products that allows customers to meet their daily needs like pay their bills, transfer to other banks and e-wallets, save. All these products together, being able to do that through our mobile app, that's what we're focused on,' he added. Under BSP Circular 1033, an advanced EPFS allows supervised financial institutions to offer fund transfers and other transactions beyond primary services such as account balance inquiries, that are included in the basic EPFS license. Aside from the advanced EPFS license, Salmon Bank is also looking to upgrade its license into a thrift bank, coinciding with its $150-million Nordic bond framework agreement. It recently raised $88 million from the latest fundraising round which includes $60 million in bonds. 'The equity of the bank as of now is P680 million which already meets the minimum requirements for a thrift bank, but there's a lot more to do in terms of putting all the board committees, the frameworks policies, the processes in place to give the BSP confidence that we are ready to make that come through,' Montemayor said. 'It's something that we hope to be able to do within the next year, subject of course to BSP approval. It really depends on the readiness of the BSP to say 'You guys are good',' he added. Moving forward, Montemayor said Salmon is looking to put up three more branches in the next year, complementing the two it already has in Sta. Rosa, Laguna, and Bacoor, Cavite. The bank is now in the process of negotiating with potential landlords. 'Our intention is to open one in BGC, one in Cebu, and one in CDO (Cagayan de Oro.) We're going through the process for the branch application. It takes time on our side also to be ready, we want to provide a branch experience that is unlike that you would get from a traditional bank, so it takes time to put together such an experience,' he said. Salmon last year said it targets to grow its loan portfolio to $2 billion in the next three to five years, as it seeks to expand its customer base by catering to what it calls the 'neglected' market and stepping into other countries in Southeast Asia. It ended 2024 with a P1.2-billion loan portfolio. —RF, GMA Integrated News
Scottish Sun
01-06-2025
- Entertainment
- Scottish Sun
TNT Sports presenter twerks in see-through outfit and leather coat as she hosts Champions League final
Viewers all said the same thing as she twerked the night away TWERKING 9 TO 5 TNT Sports presenter twerks in see-through outfit and leather coat as she hosts Champions League final Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) TNT SPORTS presenter Miroslava Montemayor twerked in a see-through outfit and leather coat while hosting the Champions League final. Montemayor, 35, is a former model who now presents live football coverage in Mexico for TNT Sports. Sign up for Scottish Sun newsletter Sign up 8 Miroslava Montemayor twerked before the Champions League final 8 She is a presenter for TNT Sports Mexico 8 She has built up a huge fan base 8 Montemayor hosted coverage of PSG's win over Inter Milan She is already a fan favourite thanks to her dazzling way with the camera. And before PSG's 5-0 win over Inter Milan, she turned heads with a plunging see-through outfit. Montemayor left little to the imagination as she flaunted her daring fashion choice. But she then went a step further as she twerked while pitch-side. Fans were left amazed by Montemayor's latest antics. One said: 'Blessings to you.' Another declared: 'The best is named Miroslava.' One noted: 'Incredible beauty.' Another added: 'This is spectacular.' Montemayor had already caused a stir before PSG's first-ever Champions League win. PSG hold Victory Parade following Champions League win against Inter Milan 8 Montemayor is a former model Credit: Instagram @miroslavamont 8 She loves posing for the camera Credit: Instagram @miroslavamont 8 She has an army of followers Credit: Instagram @miroslavamont 8 Montemayor is regularly on the box in Mexico Credit: INSTAGRAM @tntsportsmex and @miroslavamont She picked her team of the tournament alongside colleagues. But she controversially left out Barcelona's Lamine Yamal — widely tipped to win this year's Ballon d'Or. Fans forgave her though as they continued to react to her amazing dress. One said: 'You are a queen.' Another gasped: 'Simply stunning.'
The Irish Sun
01-06-2025
- Entertainment
- The Irish Sun
TNT Sports presenter twerks in see-through outfit and leather coat as she hosts Champions League final
TNT SPORTS presenter Miroslava Montemayor twerked in a see-through outfit and leather coat while hosting the Champions League final. 8 Miroslava Montemayor twerked before the Champions League final 8 She is a presenter for TNT Sports Mexico 8 She has built up a huge fan base 8 Montemayor hosted coverage of PSG's win over Inter Milan She is already a fan favourite thanks to her dazzling way with the camera. And before Montemayor left little to the imagination as she flaunted her daring fashion choice. But she then went a step further as she twerked while pitch-side. READ MORE IN FOOTBALL Fans were left amazed by Montemayor's latest antics. One said: 'Blessings to you.' Another declared: 'The best is named Miroslava.' One noted: 'Incredible beauty.' Most read in Champions League Another added: 'This is spectacular.' Montemayor had already caused a stir before PSG's first-ever Champions League win. PSG hold Victory Parade following Champions League win against Inter Milan 8 Montemayor is a former model Credit: Instagram @miroslavamont 8 She loves posing for the camera Credit: Instagram @miroslavamont 8 She has an army of followers Credit: Instagram @miroslavamont 8 Montemayor is regularly on the box in Mexico Credit: INSTAGRAM @tntsportsmex and @miroslavamont She picked her team of the tournament alongside colleagues. But she controversially left out Barcelona's Lamine Yamal — widely tipped to win this year's Ballon d'Or. Fans forgave her though as they continued to react to her amazing dress. One said: 'You are a queen.' Another gasped: 'Simply stunning.'
Yahoo
10-03-2025
- Business
- Yahoo
Former Milwaukee Walmart being converted to a Latin grocery, other businesses. It's seeking state grant
A former Walmart Neighborhood Market's conversion into a Latin American-focused grocery and other businesses near State Fair Park could be helped with a $250,000 state grant. Among with the new Monterrey Market, the redeveloped building, at 7025 W. Main St., will include a Monte Financial Services, Don Chamoy ice cream shop, and American One Insurance as tenants. It "will not only provide groceries and services to the local community in an identified food desert" but also add up to 55 full-time and 25 part-time jobs, according to a report to the County Board. The grant application to the Wisconsin Economic Development Corp. was approved Monday by the board's Committee for Community, Environment and Economic Development. It requires a 75% match from private financing sources. Walmart closed the grocery in May, laying off 105 workers. The 39,900-square-foot building was sold in January for $4.35 million to Seismontes LLC, led by Robert Montemayor. He operates Monterrey Market groceries at 3014 S. 13th St. and 3920 S. 27th St. Montemayor plans to have the Main Street store open in June. The renovations will include new automatic entrances, carpentry, coolers, and freezers; upgrades to electrical, plumbing, HVAC, and fire sprinkler systems; structural improvements such as masonry, millwork, and suspended ceilings, as well as additional security measures, updated signs, and painting, according to the county report. It's among three former Milwaukee Walmarts that are redevelopment targets. A 157,000-square-foot former Walmart superstore and its 17-acre lot, 10330 W. Silver Spring Drive, were sold in January for $3.5 million to 10330 Exceeding LLC, led by gas station and convenience store operator Anup Khullar. Walmart closed that store in 2023. Khullar has filed conceptual plans with the city Department of Neighborhood Services which call for a grocery store, liquor store, convenience store, child care center and other unspecified commercial tenants. Those plans also say two apartment buildings, each with just under 50 parking stalls, could be built in part of the parking lot. A 161,000-square-foot Walmart superstore and its 15-acre lot, in Midtown Center at 5825 W. Hope Ave., were sold for $3.28 million in 2022 to an affiliate of Council Bluffs, Iowa-based Affordable Family Storage. Walmart closed the store in 2016. The firm in 2023 proposed converting 107,000 square feet into 850 self-storage units, with the remaining space used as four small- and mid-sized retail and commercial storefronts. Self-storage centers are barred at Midtown Center, and the Plan Commission voted to deny the company's zoning exception request. Tom Daykin can be emailed at tdaykin@ and followed on Instagram, Bluesky, X and article originally appeared on Milwaukee Journal Sentinel: Former Walmart being converted to a Latin grocery, other businesses Sign in to access your portfolio
