Finansbanken increases loan loss provisions
Finansbanken's Board became complete in number when Stein Wessel-Aas joined on 1 July. The Board now comprises Idar Kreutzer (Chairman), Finn Strøm-Gundersen (Vice-Chairman), Stein Wessel-Aas, Jan O Frøshaug, Jan Erik Sløstad, Per Øyvind Schiong and Gunnar Henriksen (Acting Managing Director). The shipping strategy stands firm and the bank's shipping exposure is being reduced.
Sampo has been notified of the Board's decision and it has confirmed that Finansbanken's need to make further provisions will have no impact in its offer, which remains valid through to 10 August.
Further information will be provided on 15 August when Storebrand and Finansbanken publish their second quarter results.
Oslo, 1 August 2001
For further details please contact: <br> <br>Storebrand ASA: <br>Per Ivar Sandvik, telephone + 47 22 31 14 62, mobile + 47 934 03 183 <br> <br>Finansbanken ASA: <br>Gunnar Henriksen, telephone + 47 22 47 40 94 <br>