SBAB Receives Improved Rating from Moody’s
Moody's Investors Service ("Moody's") has upgraded SBAB Bank AB (publ)’s (“SBAB”) rating from A2 to A1. SBAB’s long-term rating is now A1 with stable outlook.
According to Moody’s, SBAB’s rating upgrade reflects improvements in primarily profitability and the diversification of funding sources.
– We are delighted that Moody’s are confirming our positive business development by upgrading our rating. Moody's highlights improvements in profitability and the diversification of funding sources. In addition, I would also like to mention that SBAB has been rewarded with the most satisfied residential mortgage customers in Sweden by Swedish Quality Index (Svenskt Kvalitetsindex, SKI) for three consecutive years. This has been achieved at the same time as we have grown significantly both in lending as well as in deposits, says Klas Danielsson, CEO SBAB.
For additional information, please see the attached statement from Moody’s.
SBAB contact details:
Karin Hellgren, Head of Public Relations
Telephone: +46 70-668 38 24, email: firstname.lastname@example.org
This information is such that SBAB Bank AB (publ) is obligated to disclose under current law. The information was submitted for publication on 22 August 2017 at 08:00 a.m. (CET).
SBAB’s business idea is to apply innovation and consideration to offer loans and savings products to private individuals, tenant-owner associations and property companies in Sweden. SBAB was founded in 1985 and is owned by the Swedish state. SBAB has about 335,000 customers and 500 employees. SBAB had Sweden’s most satisfied residential mortgage customers in 2014, 2015 and 2016, according to Svenskt Kvalitetsindex (SKI, Swedish Quality Index). Read more at sbab.se, twitter.com/sbabbank, facebook.com/sbabbank.