DNB Group: Basis swap impact in third quarter 2013

In the third quarter of 2013, the DNB Group will record a negative effect of basis swaps connected to funding of NOK 223 million.

For the full year 2012 and the first half of 2013, there were negative effects of basis swaps of approximately NOK 1687 million and NOK 321 million, respectively. Basis swaps are derivative contracts entered into in connection with long-term funding in international capital markets where the relevant currency is converted to Norwegian kroner. These swaps are hedging instruments, and over the lifetime of the derivatives the mark-to-market adjustments will have zero effect. Over time, the accounting effects will thus be reversed.

Contact persons, Investor Relations: Per Sagbakken: +47 23268400

This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.

This e-mail was sent to you by DNB. To unsubscribe from our mailing list, please send e-mail to: corporate.communications@dnb.no
Visit our website

About Us

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.