Saxo Bank receives credit rating upgrade from S&P Global Ratings
Today, Saxo Bank announces that S&P Global Ratings has upgraded its long-term issuer credit rating to ‘A-‘ from ‘BBB’. This credit rating upgrade reflects Saxo Bank’s strengthened financial profile, including its efforts to increase its resolvability and enhance its subordinated debt buffers in alignment with regulatory requirements for systemically important institutions (SIFIs).
The stable outlook reflects the view that Saxo Bank will continue to maintain its solid operating profitability, robust capitalisation, and effective risk management.
Søren Kyhl, deputy CEO & COO, commented: “This rating upgrade by S&P Global Ratings serves as a testament to our unwavering commitment to financial resilience and prudent risk management. We are pleased that our enhanced credit rating reflects our efforts to further bolster our financial robustness, which is in alignment with our designation as a Systemically Important Financial Institution (SIFI) last year. This is paramount to our ability to provide our growing number of clients and partners with a secure and reliable trading and investment platform.”
The full rating report from S&P Global Ratings can be accessed here: