DNB sells portfolios of non-performing loans to Lindorff
DNB has agreed with Lindorff Capital AS, part of the Lindorff Group, to sell several portfolios of non-performing loans in Norway. The portfolios consist of unsecured claims from DNB’s consumer and equipment financing operations and corporate banking operations, dating from 1984 to 2015. As a result of the transaction, DNB will make reversals on earlier impairment losses related to the various portfolios. The current estimated pre-tax effect is approximately NOK 1.1 billion. The sale has been initiated as part of the Group’s capital efficiency programme. Lindorff Group is one of