Saxo receives credit rating upgrade from S&P Global Ratings
Today, Saxo announces that S&P Global Ratings has upgraded its long-term issuer credit rating to 'A-' from 'BBB'. This credit rating upgrade reflects Saxo'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 will continue to maintain its solid operating profitability, robust capitalisation, and effective risk management.
Søren Kyhl, Deputy CEO & COO, Saxo, 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."
See the full rating report from S&P Global Ratings on our investor relations page.Today, Saxo is an international award-winning FinTech for investors, traders, and Institutional (BaaS) partners who are serious about making more of their money. As a well-capitalised and profitable FinTech, Saxo is a fully licensed Danish bank under the supervision of the Danish FSA and designated as a Systemically Important Financial Institution (SIFI) in Denmark. Saxo further holds a banking licence in Switzerland and financial licences in multiple jurisdictions, including Singapore where it holds a capital markets services licence under the Monetary Authority of Singapore (MAS). As one of the early fintechs in the world, Saxo continues to invest heavily into technology to ensure that Saxo’s clients and partners enjoy unparalleled client experience, broad access to global capital markets across asset classes on our industry-leading platforms. Saxo’s open banking technology (BaaS) powers more than 150 financial institutional partners, boosting the investment experience and the tools offered to end clients (B2B2C). Headquartered in Copenhagen and serving more than 1.7 million clients and over 400 partners in total, Saxo has recently reached new highs with client assets of more than DKK one trillion and more than DKK 5 billion in revenue. Saxo employs more than 2,400 professionals in financial centers around the world including London, Singapore, Amsterdam, Zurich, Dubai, and Tokyo.
For more information, please visit: https://www.home.saxo/en-sg
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Email: VERL@saxomarkets.com