DnB NOR first international energy bank with office in Aberdeen

Confirming that there is a good future left for the North Sea oil business, DnB NOR is to become the first international energy bank to establish an office in Aberdeen.

The announcement was made at a recent gathering of the Norwegian British Chamber of Commerce in Aberdeen by Trine Loe, the Head of DnB NOR's London office. Having taken up the role recently following successfully establishing DnB NOR's branch in Chile, Loe is excited about growing the bank's presence in the UK. "Aberdeen is an obvious location for us to continue the expansion of our international network. We already service a substantial client base in the city and we want to continue our close relationships with them as well as develop new relationships in the local business market. There are very close links between Norway and Scotland, which have grown stronger as the North Sea develops into a mature oil province. Most local business people in Aberdeen know that they can travel to Stavanger and Bergen faster than to London and Edinburgh."

DnB NOR is Norway's largest financial institution and has come through the credit crunch relatively unscathed with a good financial performance, strong capital ratios and an appetite to continue its international growth strategy. As a leading bank focusing on shipping, energy and seafood markets globally, it has a client profile and banking expertise which reflects the strengths of the local Aberdeen economy.

Having recruited local well known oil & gas banker Kendal Milne around three years ago, he is poised to lead the bank's growth in the Aberdeen market now that the banking business is putting the credit crunch behind it. Along with Norwegian Bente Fladmark who is already known to a large section of the Aberdeen business community, they are busily engaged in the preparations to open the new office.

Milne commented, “DnB NOR is a long term relationship bank. Having built up a good client base over the last few years in Aberdeen we are now following our clients into the local market and the new representative office will continue to provide them with the very high standards of service they have been accustomed to. There are a large number of businesses located in Scotland who fall within our areas of strategic expertise and we look forward to developing good relationships with many of them.”

Contacts
DnB NOR Press Office: Thomas Midteide  +479623 2017
Aberdeen: Kendal Milne +44 207 621 6091 / +44 7970 767329
Stavanger: Bjorn Inge Vikse  +47 9085 5294

 

Note for editors
DnB NOR is Norway's largest financial services group with total combined assets of more than £250 bn. The group's activities are primarily focused on Norway. However it is one of the world's foremost banks in the shipping and energy sectors and has an international network of nearly 200 branches and representative offices.
DnB NOR is ranked as the best capitalised bank of leading Nordic banks by Standard & Poor’s. The bank has strong ratings for long-term funding (Moody’s: Aa3, Standard & Poor’s: A+, Dominion Bond Rating Services: AA). DnB NOR has 14,000 employees.

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DnB is Norway's largest financial services group and offers financial products and services, including loans and deposits, mutual funds and asset management, life insurance and pension savings, payment and financing services, real estate broking and services related to the money and capital markets.

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