Sparbanken 1826 gets official BBB rating from S&P
Swedish savings bank Sparbanken 1826 has been given a Standard & Poor’s BBB rating for the first time, enabling it to seek funding from international capital markets.
In its rating S&P noted the bank’s close working relationshiop with Swedbank, its ability to deliver earnings, and its existing capitalisation.
“The rating is an important step in our process to ensure the bank manages future regulatory requirements for liquidity and financial position,” said managing director Bo Bengtsson.
The bank said the BBB rating was particularly good considering its size. Its turnover is SEK55bn (€600m), with 20 branches in southern Sweden.