DNB Sweden delivers strong performance in 2015

Pre-tax operating profits for DNB Sweden in 2015 were SEK 1 124 million, compared with SEK 918 million in 2014. Profits before impairment losses were SEK 1 397 million in 2015, up from SEK 1 190 million in 2014. Operating expenses totalled SEK 1 424 million in 2015, compared with SEK 1 365 million in 2014. The cost/income ratio was 50.5 per cent in 2015, compared with 53.4 per cent in 2014.

There was sound profit performance in all units. DNB Finans recorded a strong level of profits in the fourth quarter, thus contributing to the healthy performance. The strong cooperation between DNB units is defined as a success factor, and the Group wishes to create a corporate culture characterised by change capacity and engagement. DNB Finans is a good example of this, which will help ensure sound growth in the long term.

“Customers are becoming increasingly digital, and DNB Finans meets new customer needs with innovative solutions in order to give them a good experience every time they are in contact with us. DNB Finans is also a good team player and a very process-oriented organisation, which makes us efficient and always well prepared for changes in our business environment,” says Stefan Davidsson, head of DNB Finans Sweden.

Large parts of DNB Asset Management's Swedish operations were sold to Öhman at year-end 2015. From being a full-scale asset manager, the business unit now concentrates on sales and client activities. Mutual funds will hereafter be managed from Norway and are based in Norway and Luxembourg.

“We believe that sustainability matters both with respect to how we act as a company and how we invest. We are also top-ranked by our clients for our sustainable investment operations. In the period ahead, we will strengthen our relations to third-party suppliers and a number of institutional clients. I am certain that our world-class sector funds will be attractive in the market. I look forward to following developments in both DNB Asset Management and DNB Finans,” concludes Peter H. Carlsson, head of DNB Sweden.

DNB Group: Healthy profits give strong improvement in capital adequacy
DNB recorded profits of NOK 24 762 million in 2015, up NOK 4 145 million from 2014. The increase partly reflected the effect of basis swaps, while a rise in income and reduced costs also contributed to the high profit level. DNB’s common equity Tier 1 capital increased by NOK 20.9 billion through 2015, which makes the bank even more robust to cope with uncertain times. 

“This is a strong financial performance by DNB and shows that parts of the Norwegian business community are still expanding in spite of the sharp drop in oil prices. It also demonstrates that we are an attractive bank for Norwegian personal customers. The number of new home mortgage contracts increased by more than 170 000 in 2015, which is a significant rise from the previous year. Overall, we are very pleased with our returns and cost performance,” says Rune Bjerke, group chief executive.

Key figures for the DNB Group, fourth quarter of 2015 (NOK)

• Pre-tax operating profits before impairment were NOK 9.3 billion (7.0)
• Profit for the period was NOK 6.8 billion (5.0)
• Earnings per share were NOK 4.11 (3.05)
• Return on equity was 15.0 per cent (12.6)
• The ordinary cost/income ratio was 28.1 per cent (42.2)
• The common equity Tier 1 capital ratio (transitional rules) was 14.4 per cent (12.7)

Comparable figures for 2014 in parentheses.

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

Contact persons:
Thomas Midteide, group executive vice president, Corporate Communications, tel.: + 47 962 32 017
Peter H. Carlsson, head of DNB Sweden, tel. + 46 (0)8-473 41 00
 

The quarterly report, presentation and Fact Book can be downloaded from www.dnb.no/investor-relations.

DNB är en av de ledande nordiska aktörerna inom bank, finans och försäkring. På den svenska marknaden erbjuder vi de flesta tjänster och produkter som efterfrågas av medelstora och stora företag samt institutioner.  För dig som privatkund erbjuder vi, via våra samarbetspartners, kreditkort, billån samt ett brett fondutbud.