DNB NOR HAS SOLD 22 BANK BUILDINGS

DnB NOR Bank ASA has entered into agreements on the sale of 22 bank buildings, thus concluding the sale of the bank`s own commercial property portfolio announced in the spring. Complete statement on www.newsweb.no DnB NOR Bank ASA has entered into agreements on the sale of 22 bank buildings, thus concluding the sale of the bank`s own commercial property portfolio announced in the spring. The total sales price for the 22 buildings is NOK 3.6 billion. This will give the bank a gain of more than NOK 1.4 billion before tax. As several of the properties in the portfolio are owned by companies, the tax charge will be relatively low. The buildings were sold with an average yield of 5.62 per cent. Parallel to the sales, DnB NOR has entered into new lease agreements for the sold properties with a duration of between seven and ten years. The agreements will imply no significant changes in the bank`s operating expenses over the coming years.