SBI Savings Bank's Corporate Credit Rating Upgraded to 'A'

[Asia Economy Reporter Song Seung-seop] SBI Savings Bank has obtained an A rating in corporate credit evaluation and received a 'stable' rating outlook.

According to the industry on the 11th, NICE Credit Rating upgraded SBI Savings Bank's corporate credit rating from A- to A the previous day. Obtaining an A rating is the first among single savings banks.

NICE Credit Rating cited reasons such as securing the top market position in the savings bank industry through the expansion of mid-interest loans, possessing a more advanced credit evaluation system compared to other savings banks, and good loss absorption capacity based on the level of allowance for loan losses and solid profit generation ability.

As of the end of last year, SBI Savings Bank recorded KRW 1.5 trillion in equity capital, KRW 13.2 trillion in total assets, and a BIS capital ratio of 14.7%.

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