DNB Sweden will strengthen its corporate identity
Pre-tax operating profits for DNB Sweden in the January through September period in 2015 were SEK 862 million, compared with SEK 748 million in the same period last year. Profits before impairment losses were SEK 1 040 million in the January through September period in 2015, up from SEK 832 million in the same period in 2014.
Operating expenses totalled SEK 1 054 million in 2015, compared with SEK 876 million in the same period last year. The cost/income ratio was 50.3%, YTD 2015, compared to 51.2% YTD 2014.
All business areas contributed to the healthy performance. Corporate Banking and Markets have increased their focus on the Swedish market. The investment in equity research and stock trading also contributes to strengthening the business profile. DNB Finans’ close ties to the bank are an important part of the organisation’s long-term strategy.
“I am pleased that we continue to refine our operations and are working determinedly to gain market share in the areas in which we operate. Every day, I get positive signals that we are moving in the right direction. Our constant focus on improving our already good customer relations through improved cooperation between Corporate Banking, DNB Markets and DNB Finans is evidently paying off,” says Peter H. Carlsson, head of DNB Sweden.
DNB Group: Strong profits and improved capital adequacy
DNB recorded profits of NOK 6 363 million in the third quarter of 2015, up NOK 743 million from the third quarter of 2014. Higher volumes and wider deposit spreads helped raise profits.
“This is one of DNB’s best quarterly performances ever, which gives us reason to be satisfied. The figures show that the Norwegian economy is still growing, even though the situation is challenging for many companies in oil-related industries. I am also very pleased that our customer satisfaction scores are continuing to improve,” says Rune Bjerke, group chief executive.
Key figures for the DNB Group, third quarter of 2015 (NOK)
Pre-tax operating profits before impairment were NOK 8.1 billion (7.6)
Profit for the period was NOK 6.4 billion (5.6)
Earnings per share were NOK 3.83 (3.45)
Return on equity was 14.7 per cent (14.8)
The ordinary cost/income ratio was 39.6 per cent (40.4)
- The common equity Tier 1 capital ratio (transitional rules) was 13.1 per cent (12.6)
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.
Thomas Midteide, group executive vice president, Corporate Communications, tel.: + 47 962 32 017
Peter H. Carlsson, Head of DNB Sweden, + 46 (0)8-473 41 00
The quarterly report, presentation and Fact Book can be downloaded from www.dnb.no/investor-relations.