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S&P Global Ratings raises Saxo Bank's credit rating

S&P Global Ratings raises Saxo Bank's credit rating

S&P Global Ratings has upgraded Saxo Bank's long-term credit rating from 'BBB' to 'A-'.

The new rating highlights the company's efforts to strengthen its financial profile, improve its solvency, and increase its subordinated debt buffers in line with regulatory requirements for systemically important institutions (SIFIs).

In addition, the stable outlook reflects Saxo Bank's solid operating profitability, sustainable capitalization, and effective risk management.

"The upgrade by S&P Global Ratings is a testament to our unwavering commitment to financial strength and prudent risk management. We are pleased that the upgrade reflects our efforts to further strengthen our financial position," said Søren Kyhl, Deputy CEO and Chief Operating Officer of Saxo Bank.

Kyhl emphasized that the 'A-' rating demonstrates Saxo Bank's ability to provide its clients and partners with a safe and secure trading and investment platform.

"The upgraded credit rating is in line with our SIFI status," he added.

Recall that Saxo Bank was officially designated as a Systemically Important Financial Institution (SIFI) by the Danish Financial Supervisory Authority (FSA) in June 2023.

The SIFI designation means that the financial institution plays an important role in ensuring the stability and proper functioning of the financial system.

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