DNBNOR - PRE-TAX OPERATING PROFITS OF NOK 13.1 BILLION

Full year 2005 - Pre-tax operating profits rose 25 per cent to NOK 13 109 million (NOK 10 484 million in 2004) - Profits rose 23 per cent to NOK 10 144 million (8 241) - Ordinary expenses were scaled back to 50.2 per cent (56.0) of income - Return on equity was 18.8 per cent (17.7) Attachment on www.newsweb.no Pre-tax operating profits of NOK 13.1 billion Full year 2005 - Pre-tax operating profits rose 25 per cent to NOK 13 109 million (NOK 10 484 million in 2004) - Profits rose 23 per cent to NOK 10 144 million (8 241) - Ordinary expenses were scaled back to 50.2 per cent (56.0) of income - Return on equity was 18.8 per cent (17.7) - Earnings per share were NOK 7.59 (6.25) - The core capital ratio at year-end was 7.4 per cent (7.6) - The Board of Directors has proposed a dividend of NOK 3.50 per share (NOK 2.55) Fourth quarter 2005 - Pre-tax operating profits rose 28 per cent to NOK 3 578 million (NOK 2 798 million in fourth quarter 2004) - Profits rose 21 per cent to NOK 2 996 million (NOK 2 475 million) - Ordinary expenses were scaled back to 47.5 per cent (52.9) of income - Return on equity was 21.5 per cent (20.4) - Earnings per share were NOK 2.24 (1.86) Comments by group chief executive Svein Aaser: I give full credit to the Groups staff, who by their determined efforts and impressive ability to adapt to change have secured the best results in the Groups history. Tremendous effort is being made to conclude the DnB NOR integration. More than 90 per cent of the year-end 2006 cost synergy targets has already been achieved. In 2005, we accomplished a productivity increase which we can all be proud of, and our market position is stronger than ever. I am satisfied with the progress made in the SME segment, which together with other corporate banking operations and DnB NOR Markets generate almost 60 per cent of the Group`s pre-tax operating profits. In addition, cross-sales of products to Norwegian retail customers have gained momentum, in spite of the fact that the organisation at the same time has concluded a very challenging restructuring of the branch network. Our operations are being adapted to meet a new international reality. We now have 2 200 employees outside Norway. DnB NOR is already a gateway to Norway and Norway`s financial representation abroad. Sweden is defined as our home market and we are one of Swedens leading asset managers. We hold international market positions within shipping and energy. At the end of 2005, we established a presence in the Baltic states, Poland and North-West Russia, markets with high growth rates. Moreover, in 2006 we will open a significant branch in Shanghai, China. In other words, through our network of offices in Europe, Asia and America, we are able to serve businesses throughout the world. In recognition of the effort put forth in all parts of the organisation, the Group will allocate NOK 153 million to DnB NOR Ansattefond (investment fund for employees) for 2005, says group chief executive Svein Aaser. Results are reported in accordance with international accounting principles (IFRS). The transition to IFRS has no impact on the formal core capital ratio. The quarterly report including tables can be downloaded from www.dnbnor.com Press release, fourth quarter report, presentation and Supplementary Information for Investors and Analysts can be found on www.newsweb.no

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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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