DNB sells portfolios of non-performing loans to Lindorff

DNB has agreed with Lindorff Capital AS, part of the Lindorff Group, to sell several portfolios of non-performing loans in Norway. The portfolios consist of unsecured claims from DNB’s consumer and equipment financing operations and corporate banking operations, dating from 1984 to 2015.

As a result of the transaction, DNB will make reversals on earlier impairment losses related to the various portfolios. The current estimated pre-tax effect is approximately NOK 1.1 billion.

The sale has been initiated as part of the Group’s capital efficiency programme.

Lindorff Group is one of Europe’s leading partners for handling non-performing portfolios. The company has 3,500 employees in 13 countries with headquarters in Oslo, Norway. In 2014, Lindorff generated € 475 million in net revenue.

DNB Markets acted as financial adviser for DNB in connection with the transaction

-----

Press contacts:

DNB: GEVP Corporate Communications, Thomas Midteide: (+47) 96 23 20 17

Lindorff Norway: Head of Communications, Stig Inge Eikemo: (+47) 90 07 03 84

Investor Relations contacts:

DNB: Head of Investor Relations, Rune Helland: (+47) 23 26 84 00

Lindorff Group: Director Investor Relations, André Adolfsen: (+ 47) 24 16 26 26

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 dnb.no