DnB NOR in first quarter 2008: Robust operations - profits affected by international financial turmoil
The turmoil in international financial markets was a contributing factor behind the decline in DnB NOR's pre-tax operating profits before write-downs to NOK 1.5 billion, from NOK 3.8 billion in the year-earlier period, mainly reflecting value adjustments on bonds and shares. The Group showed sound underlying performance, with an increase in net interest income of 26 per cent, healthy income from customer trading, a controlled cost trend and low write-downs on loans. First quarter 2008 * Pre-tax operating profits before write-downs were NOK 1.5 billion (3.8) * Profit for the period was NOK 1.