DNB Group: Basis swap impact in third quarter 2015

In the third quarter of 2015, the DNB Group will record a positive effect of basis swaps connected to funding of approximately NOK 933 million.

In the third quarter of 2014, there was a positive effect of basis swaps of NOK 449 million.

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.

The positive basis swap effect in the third quarter will be partly offset by negative effects from increased credit spreads and increased credit costs on derivatives (CVA/DVA).

For further information, please contact Investor Relations in DNB:
Rune Helland : +47 97713250
Thor Tellefsen : +47 91544385

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

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