Bank DnB NORD to focus on core markets

Bank DnB NORD A/S, a joint venture owned 51% by Norwegian DnB NOR ASA and 49% by German NORD/LB Norddeutsche Landesbank and headquartered in Copenhagen, today decided to reorganise its operations in Denmark and Finland. Bank DnB NORD will now focus on its Eastern European core markets Estonia, Latvia, Lithuania and Poland where the bank has a relevant market size or reasonable growth potential. While the headquarters will remain in Copenhagen, customers in the Danish and Finnish portfolio will be serviced by DnB NOR and NORD/LB directly. Customer relationships in Denmark and Finland will be continued according to the shareholding split in the joint venture. The ownership of DnB NORD A/S remains unchanged. Both parent banks welcome the sharpening of the strategic focus of DnB NORD on its core markets in the Baltics and Poland and confirm their continued and full support of the joint venture DnB NORD.