DNB is reducing the recording of the previously communicated tax income from approx. NOK 4 billion to approx. NOK 880 million for the fourth quarter of 2018.

With reference to the statement to Oslo Børs dated 15 January 2019: “DNB Livsforsikring AS – transitional effects from new tax rules”.

DNB Livsforsikring AS maintains its tax assessment with respect to the interpretation of the new tax rules for 2018 for life insurance and pension companies, with appurtenant transitional rules. After additional information has been made available to the company, DNB Livsforsikring AS has decided not to record the entire transitional effect as tax income in the financial statement for the fourth quarter. The recorded impact on profits for the DNB Group in the fourth quarter will be changed from approx. NOK 4 billion to approx. NOK 880 million, which will be recognised as income under tax expenses.

The company will consider additional recording of income in the time ahead.

The recording of income will have no effect on capital for the DNB Group before the amount, or part thereof, is distributed as dividends to DNB ASA.

For further information, please contact:
Rune Helland, Head of Investor Relations, tel. ( 47) 23 26 84 00 / ( 47) 977 13 250 
Anders Skjævestad, CEO DNB Liv, tel (47) 934 07 403

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

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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.