Saxo Bank receives investment grade rating from S&P
Saxo Bank has received a BBB rating with a positive outlook from S&P Global Ratings, according to the bank’s first-ever rating report.
In addition, Saxo Bank is currently in the process of being appointed a Systemically Important Financial Institution (SIFI) later this year by the Danish Financial Supervisory Authority (FSA). The SIFI designation is given to financial institutions that are considered critical to the functioning of the financial system and is a testament to Saxo Bank's importance as it supports a growing number of retail clients and other banks, fintechs and brokers leveraging its technology.
Søren Kyhl, Deputy CEO & COO, commented:
"We are pleased to receive a BBB rating with a positive outlook from S&P Global Ratings, which highlights our strong capital position and business model, cautious approach to risk management and ambitious growth strategy. We are also excited about the prospect of becoming a SIFI later this year. In combination this is a testament to our commitment to providing top-quality platforms, products and services to our growing number of retail clients and institutional partners."
The rating from S&P Global Ratings demonstrates Saxo Bank's dedication to maintaining a strong financial position, resilient business model and providing cutting-edge services to its clients.
The full rating report from S&P Global Ratings can be accessed here: https://www.home.saxo/about-us/investor-relations
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