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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.

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Rise in income in DnB NOR and higher write-downs in Latvia

DnB NOR achieved a profit of NOK 2 493 million in the third quarter of 2011, compared with NOK 3 038 million in the third quarter of 2010. Total income rose by NOK 803 million from the year-earlier period."The Group’s financial performance in the third quarter reflects the turbulence in the financial markets, which had a particularly negative impact on profits in Vital. On the other hand, the turmoil has also ensured significant mark-to-market adjustments in other areas of operations, offsetting the decline in profits in Vital. There is also a positive trend in the Group’s banking

Strong performance

DnB NOR achieved a profit of NOK 3 546 million in the second quarter of 2011, an increase of NOK 723 million from the second quarter of 2010."We are very pleased with these profit figures. This is our second best quarterly performance since the financial crisis, surpassed only by the particularly healthy profits recorded in the fourth quarter of 2010. Rising interest rate levels and low write-downs had a positive impact on the quarter, though there is still intense competition for both loans and deposits in the Norwegian market," says Rune Bjerke, group chief executive. DnB NOR is in the

DnB NOR first international energy bank with office in Aberdeen

Confirming that there is a good future left for the North Sea oil business, DnB NOR is to become the first international energy bank to establish an office in Aberdeen.The announcement was made at a recent gathering of the Norwegian British Chamber of Commerce in Aberdeen by Trine Loe, the Head of DnB NOR's London office. Having taken up the role recently following successfully establishing DnB NOR's branch in Chile, Loe is excited about growing the bank's presence in the UK. "Aberdeen is an obvious location for us to continue the expansion of our international network. We already service a

Profits of NOK 2.85 billion and healthy trend in the business areas

DnB NOR recorded a profit of NOK 2 851 million in the first quarter of 2011, which is about the same as in the first quarter of 2010. There were sound underlying operations and a healthy profit trend in all business areas."The Group delivered a sound profit performance in the first quarter of the year, in spite of negative effects of changes in market values and non-recurring items. All of our business areas delivered better operating profits than in the first quarter of 2010, and the level of write-downs remains low", says Rune Bjerke, group chief executive. The Group recorded a rise in

Profit target reached

DnB NOR achieved a profit of NOK 5 284 million in the fourth quarter of 2010, which is the highest quarterly profit figure in the history of the Group. The strong profits reflect hard work, higher income and low write-downs on loans.Profits for the full year 2010 came to NOK 14 062 million. Pre-tax operating profits before write-downs rose from NOK 18 717 million in 2009 to NOK 21 081 million in 2010. "We set ourselves ambitious financial targets four years ago to achieve, among other things, pre-tax operating profits before write-downs of NOK 20 billion in 2010. Due to the turmoil in

Acquisition of all shares in DnB NORD

DnB NOR has concluded an agreement to acquire the German bank NORD/LB’s 49 per cent ownership interest in DnB NORD for a consideration of EUR 160 million in cash.Since year-end 2005, DnB NOR ASA (DnB NOR) and Norddeutsche Landesbank Girozentrale (NORD/LB) have jointly owned Bank DnB NORD A/S (DnB NORD). On 2 August 2010, DnB NOR exercised its option to acquire NORD/LB’s 49 per cent ownership interest in DnB NORD. Since then, the parties have been in negotiations to agree on the consideration for the shares. An agreement has now been reached whereby DnB NOR pays a cash consideration of EUR

Significant increase in profits

DnB NOR achieved a profit of NOK 3 038 million in the third quarter of 2010, a significant improvement from the year-earlier period. Lower write-downs on loans were the main factor behind the rise in profits, though there was also a rise in interest income."The Norwegian economy is continuing to show clear signs of improvement, and we are experiencing an increase in credit demand from both private individuals and companies. Parallel to this, we have a gratifying and pronounced decline in write-downs on loans," says Rune Bjerke, group chief executive.  Rune Bjerke is very satisfied with

DnB NORD

Since 2005, DnB NOR Bank ASA (DnB NOR) and Norddeutsche Landesbank Girozentrale (NORD/LB) have owned 51 per cent and 49 per cent, respectively, of Bank DnB NORD A/S. Bank DnB NORD A/S has subsidiary banks in Latvia, Lithuania and Poland.  In a statement to Oslo Børs on 14 July 2010, it was announced that DnB NOR, pursuant to the shareholder agreement, had notified NORD/LB that the bank reserved the right to exercise its option to acquire NORD/LB’s 49 per cent ownership interest in Bank DnB NORD A/S.  In a statement to NORD/LB today, DnB NOR has exercised its option to acquire NORD/LB’

Strong reduction in write-downs

DnB NOR recorded a profit of NOK 2 823 million in the second quarter of 2010, a significant improvement from the year-earlier period. Write-downs on loans were more than halved compared with the second quarter of 2009, and there are signs of rising credit growth in the corporate market."This quarter was characterised by considerable volatility in the European financial markets. On the whole, our domestic customers have escaped the tumult, and we are experiencing a strong reduction in write-downs on loans. We must now be able to say that write-downs have settled at a level which is

Profits of NOK 2.9 billion and lower write-downs

DnB NOR recorded profits of NOK 2 917 million in the first quarter of 2010, roughly on a level with the year-earlier period. Write-downs on loans have shown a positive trend, with a reduction of approximately 40 per cent from the first quarter of 2009."We are very pleased with the Group's sound first quarter performance, achieved in spite of somewhat lower-than-normal activity levels. It is good news for us all that write-downs on loans are lower than expected. Our daily contact with small and large customers throughout Norway confirms that the Norwegian economy is far stronger than in the

Healthy profits and lower-than-expected write-downs

DnB NOR recorded profits of NOK 1 689 million in the fourth quarter of 2009, up from NOK 1 629 million in the year-earlier period. Profits for the year came to NOK 7 026 million, which demonstrates sound performance in a very demanding year for both the Norwegian and the international economy.Full year 2009 • Pre-tax operating profits before write-downs were NOK 18.7 billion (15.6) • Profit for the year was NOK 7.0 billion (8.9) • Profit after minority interests was NOK 8.6 billion (9.2) • Earnings per share were NOK 6.43 (6.91) • Return on equity was 10.6 per cent (12.4) • The cost/income

Start of evaluation period in DnB NORD

The Board of Directors of DnB NOR has today decided to initiate the evaluation period of the shareholder agreement between DnB NOR and NORD/LB relating to Bank DnB NORD A/S. The period will commence on 31 January 2010.As specified in the prospectus for the DnB NOR rights issue, the shareholder agreement in Bank DnB NORD A/S ("DnB NORD") gives the contracting parties the right to require an evaluation of the joint venture. The Board of Directors of DnB NOR Bank ASA ("DnB NOR") believes that this is the correct time to initiate such an evaluation. DnB NOR regards DnB NORD's geographic area of

DnB NOR: Share capital increase registered

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, SINGAPORE, SOUTH AFRICA, SWITZERLAND, JAPAN OR HONG KONG Reference is made to the stock exchange notice published by DnB NOR ASA on 14 December 2009. The share capital increase pertaining to the rights issue resolved by the general meeting of DnB NOR ASA on 19 November 2009 has now been registered with the Norwegian Register of Business Enterprises and the rights issue has hence been completed. The new share capital of DnB NOR ASA is NOK 16,287,988,610 divided into 1,628,798,861 shares, each with

DnB NOR: Final result of rights issue

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, SINGAPORE, SOUTH AFRICA, SWITZERLAND, JAPAN OR HONG KONG The subscription period in the rights issue in DnB NOR ASA (“DnB NOR” or the “Company”) expired at 17:30 (CET) on 10 December 2009. At the end of the subscription period, DnB NOR had received subscriptions for a total of 414,381,046 new shares. 296,145,246 new shares were offered, and the rights issue was consequently oversubscribed by approximately 39.9 per cent. Approximately 99.4 per cent of the new shares on offer (approximately 294.3

DnB NOR: Rights issue oversubscribed

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, SINGAPORE, SOUTH AFRICA, SWITZERLAND, JAPAN OR HONG KONG The subscription period in DnB NOR ASA’s rights issue expired at 17:30 (CET) on 10 December 2009. Preliminary counting indicates that DnB NOR ASA had received subscriptions for approximately 414.4 million new shares at the end of the subscription period. 296,145,246 new shares were offered, and the rights issue has consequently been oversubscribed by approximately 39.9 per cent. The final allocation of the shares offered in the rights issue

DNB NOR: EXPIRY OF SUBSCRIPTION PERIOD IN RIGHTS ISSUE

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, SINGAPORE, SOUTH AFRICA, SWITZERLAND, JAPAN OR HONG KONG The subscription period in DnB NOR ASA’s rights issue expires at 17:30 (CET) on 10 December 2009. Subscription rights issued in the rights issue must be used to subscribe for new shares in DnB NOR ASA before the expiry of the subscription period. Subscription rights that are not exercised will have no value and will lapse without compensation to the holder. Holders of subscription rights (whether granted or acquired) must, in order to

DnB NOR rights issue: Mandatory notification of trade

Further to the ongoing subscription period in the DnB NOR ASA rights issue, the attached list gives an overview of purchases and sales of subscription rights and subscriptions for DnB NOR shares carried out by primary insiders in the DnB NOR Group and the primary insiders' related parties. The sales and purchases of subscription rights and the subscriptions for new shares included in the list were conducted yesterday, 26 November 2009. All shares subscribed were subscribed according to subscription rights.

The Board of Directors of DnB NOR ASA (DnB NOR) proposes terms for the rights issue – subscription price NOK 47.30 per ordinary share

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, SINGAPORE, SOUTH AFRICA, SWITZERLAND, JAPAN OR HONG KONG The terms are subject to approval on the Extraordinary General Meeting to be held on 19 November 2009 at 10:00 (CET): - The share capital of DnB NOR will be increased by NOK 2,961,452,460 through an issue of 296,145,246 new shares. - The subscription price will be NOK 47.30 per share (this represents an implied discount to the Theoretical Ex-Rights Price of approximately 26.7 per cent). - Shareholders who are registered in the Company’s

DnB NOR: Sound underlying rise in income

DnB NOR recorded profits of NOK 1 760 million in the third quarter of 2009. Compared with the second quarter of 2009, profits were up NOK 1 117 million, while there was a reduction from NOK 2 810 million in the third quarter of 2008.After minority interests, profits attributable to DnB NOR's shareholders totalled NOK 2 167 million in the third quarter of 2009, compared with NOK 1 200 million in the second quarter and NOK 2 829 million in the year-earlier period. "DnB NOR's profit figures reflect a rise in income in a still uncertain market situation. There is a positive underlying trend,

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