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DNB ASA (DNB.OL)

DNB.OL on Oslo Stock Exchange

148.20NOK
13 Dec 2018
Change (% chg)

kr0.20 (+0.14%)
Prev Close
kr148.00
Open
kr148.50
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kr146.55
Volume
1,687,840
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1,717,120
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kr174.20
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kr138.90

Latest Key Developments (Source: Significant Developments)

Bank DNB Q3 net profit lags
Thursday, 25 Oct 2018 

Oct 25 (Reuters) - DNB ASA ::DNB Q3 NET PROFIT NOK 5,673 MILLION (REUTERS POLL NOK 5.9 BILLION).DUE TO SIGNIFICANT REVERSALS OF PREVIOUS LOAN LOSS PROVISIONS IN OIL AND GAS SECTOR AMOUNTING TO NOK 500 MILLION, LOSSES FOR Q3 ENDED AT A MODEST NOK 11 MILLION.DUE TO SIGNIFICANT REVERSALS OF PREVIOUS LOAN LOSS PROVISIONS IN OIL AND GAS SECTOR AMOUNTING TO NOK 500 MILLION, LOSSES FOR Q3 ENDED AT A MODEST NOK 11 MILLION.DNB Q3 NET INTEREST INCOME NOK 9.15 BILLION (REUTERS POLL NOK 9.2 BILLION).AFTER THREE QUARTERS, DNB'S RETURN ON EQUITY FOR 2018 IS 11.2 PER CENT, COMPARED WITH 10.2 PER CENT IN SAME PERIOD LAST YEAR.THE INCREASE IN NORGES BANK’S KEY POLICY RATE FROM 0.5 PER CENT TO 0.75 PER CENT, FOLLOWED BY DNB’S ANNOUNCEMENT OF AN INCREASE IN LOAN RATES EFFECTIVE FROM 23 OCTOBER AND 4 NOVEMBER, WILL HAVE A POSITIVE EFFECT ON NET INTEREST INCOME IN THE FOURTH QUARTER.THE INCREASE IN NORGES BANK’S KEY POLICY RATE FROM 0.5 PER CENT TO 0.75 PER CENT WILL HAVE A POSITIVE EFFECT ON NET INTEREST INCOME IN THE FOURTH QUARTER.THE ANNUAL INCREASE IN LENDING VOLUMES IS ANTICIPATED TO BE 3 TO 4 PER CENT IN 2018.DNB Q3 PRETAX PROFIT BEFORE IMPAIRMENTS NOK 7.16 BILLION (REUTERS POLL NOK 7.7 BILLION).THE ANNUAL INCREASE IN LENDING VOLUMES IS ANTICIPATED TO BE 3 TO 4 PER CENT IN 2018, UNCHANGE VIEW.SAYS THE GROUP HAS SET A TARGET FOR ITS COMMON EQUITY TIER 1 CAPITAL RATIO (CET 1) OF ABOUT 16.3 PER CENT FROM YEAR-END 2018.  Full Article

BRIEF-DNB and Sparebank 1 Gruppen to merge insurance units
Monday, 24 Sep 2018 

Repeats without change to additional readers:DNB AND SPAREBANK 1 GRUPPEN ENTER INTO INSURANCE MERGER.ESTABLISHING ONE OF NORWAY'S LARGEST INSURANCE COMPANIES.NEW INSURANCE COMPANY WILL RESULT FROM MERGER OF DNB FORSIKRING AS AND SPAREBANK 1 SKADEFORSIKRING AS.DNB WILL HAVE A HOLDING OF 35 PER CENT AND SPAREBANK 1 GRUPPEN AS ONE OF 65 PER CENT IN NEW COMPANY.IN ADDITION, DNB HAS SECURED AN OPTION TO INCREASE THEIR HOLDING TO 40 PER CENT.MERGER AGREEMENT ASSUMES AN EXCHANGE RATIO OF APPROXIMATELY 80 PER CENT FOR SPAREBANK 1 GRUPPEN AND APPROXIMATELY 20 PER CENT FOR DNB.EXCHANGE RATIO IS BASED ON A NEGOTIATED MARKET VALUE OF TWO NON-LIFE INSURANCE COMPANIES, INCLUDING VALUE OF TRANSFERRED PERSONAL RISK PRODUCTS.IN TRANSACTION, NEW NON-LIFE INSURANCE COMPANY IS VALUED AT NOK 19.75 BILLION.AN EQUIVALENT VALUE IS ASSUMED WHEN DNB IS TO INCREASE ITS HOLDING FROM 20 TO 35 PER CENT.PURCHASE PRICE FOR 15 PER CENT OF SHARES WILL THUS BE NOK 2.96 BILLION.TOTAL VOLUME OF PREMIUMS ON PERSONAL RISK PRODUCTS IS APPROXIMATELY NOK 3 BILLION, GENERATING A PROFIT OF ABOUT NOK 0.5 BILLION AFTER TAX.PRO-FORMA PROFIT AFTER TAX FOR NEW COMPANY FOR 2017 WAS APPROXIMATELY NOK 1.8 BILLION, OUT OF WHICH DNB'S OPERATIONS AMOUNTED TO NOK 300 MILLION.RECORDED GAIN OF AROUND NOK 3 BILLION IN GROUP ACCOUNTS, AND A REDUCTION OF COMMON EQUITY TIER 1 CAPITAL RATIO (CET 1) FOR GROUP OF ABOUT 30 BASIS POINTS.TENTATIVE MERGER DATE IS 1 JANUARY 2019, SUBJECT TO APPROVAL OF AUTHORITIES.  Full Article

DNB and Sparebank 1 Gruppen to merge insurance units
Monday, 24 Sep 2018 

Sept 24 (Reuters) - Dnb Asa ::DNB AND SPAREBANK 1 GRUPPEN ENTER INTO INSURANCE MERGER.ESTABLISHING ONE OF NORWAY'S LARGEST INSURANCE COMPANIES.NEW INSURANCE COMPANY WILL RESULT FROM MERGER OF DNB FORSIKRING AS AND SPAREBANK 1 SKADEFORSIKRING AS.DNB WILL HAVE A HOLDING OF 35 PER CENT AND SPAREBANK 1 GRUPPEN AS ONE OF 65 PER CENT IN NEW COMPANY.IN ADDITION, DNB HAS SECURED AN OPTION TO INCREASE THEIR HOLDING TO 40 PER CENT.MERGER AGREEMENT ASSUMES AN EXCHANGE RATIO OF APPROXIMATELY 80 PER CENT FOR SPAREBANK 1 GRUPPEN AND APPROXIMATELY 20 PER CENT FOR DNB.EXCHANGE RATIO IS BASED ON A NEGOTIATED MARKET VALUE OF TWO NON-LIFE INSURANCE COMPANIES, INCLUDING VALUE OF TRANSFERRED PERSONAL RISK PRODUCTS.IN TRANSACTION, NEW NON-LIFE INSURANCE COMPANY IS VALUED AT NOK 19.75 BILLION.AN EQUIVALENT VALUE IS ASSUMED WHEN DNB IS TO INCREASE ITS HOLDING FROM 20 TO 35 PER CENT.PURCHASE PRICE FOR 15 PER CENT OF SHARES WILL THUS BE NOK 2.96 BILLION.TOTAL VOLUME OF PREMIUMS ON PERSONAL RISK PRODUCTS IS APPROXIMATELY NOK 3 BILLION, GENERATING A PROFIT OF ABOUT NOK 0.5 BILLION AFTER TAX.PRO-FORMA PROFIT AFTER TAX FOR NEW COMPANY FOR 2017 WAS APPROXIMATELY NOK 1.8 BILLION, OUT OF WHICH DNB'S OPERATIONS AMOUNTED TO NOK 300 MILLION.RECORDED GAIN OF AROUND NOK 3 BILLION IN GROUP ACCOUNTS, AND A REDUCTION OF COMMON EQUITY TIER 1 CAPITAL RATIO (CET 1) FOR GROUP OF ABOUT 30 BASIS POINTS.TENTATIVE MERGER DATE IS 1 JANUARY 2019, SUBJECT TO APPROVAL OF AUTHORITIES.  Full Article

Fred Olsen Energy's majority owner Bonheur will evaluate any refinancing proposal
Tuesday, 7 Aug 2018 

Aug 7 (Reuters) - Bonheur Asa ::BONHEUR ASA, OWNING 51.9 % OF SHARES OF FOE, WILL EVALUATE ANY PARTICIPATION IN A POTENTIAL REFINANCING OF FOE SUBJECT ALWAYS TO TERMS OF ANY REFINANCING PROPOSAL.  Full Article

BRIEF-Bank DNB's Q2 earnings below expectations
Thursday, 12 Jul 2018 

Repeats to attach article to alerts, no changes in text:DNB Q2 NET PROFIT NOK 6.1 BILLION (REUTERS POLL NOK 6.2 BILLION).DNB Q2 PRETAX PROFIT BEFORE IMPAIRMENTS NOK 7.1 BILLION (REUTERS POLL NOK 8.3 BILLION).DNB Q2 NET INTEREST INCOME NOK 9,052 MILLION (REUTERS POLL NOK 9.1 BILLION).DNB TARGETS RETURN ON EQUITY ABOVE 12 PERCENT TOWARDS END-2019 (PREVIOUS VIEW ABOVE 12 PERCENT TOWARDS END-2019).DNB SAYS LENDING VOLUMES TO BE 3-4 PERCENT IN 2018 AND 2019 (PREVIOUS VIEW 3-4 PERCENT IN 2018 AND 2019).DNB SAYS DIVIDEND POLICY UNCHANGED (PREVIOUS VIEW PAYOUT RATIO OF MORE THAN 50 PERCENT AND INCREASE IN NOMINAL DIVIDEND PER SHARE EACH YEAR).DNB SAYS TARGET FOR COMMON EQUITY TIER 1 CAPITAL RATIO IS 16.1 PERCENT (PREVIOUS VIEW 16.1 PERCENT).DNB SAYS TAX RATE 20 PERCENT IN 2018 AND 2019 (PREVIOUS VIEW 20 PERCENT IN 2018 AND 2019).DNB SAYS AIM TO HAVE COST-INCOME RATIO OF BELOW 40 PERCENT TOWARDS 2019 (PREVIOUS VIEW BELOW 40 PERCENT TOWARDS 2019).  Full Article

Sparebank 1 SMN says Sparebank 1 Gruppen and DNB sign letter of intent relating to insurance merger
Wednesday, 20 Jun 2018 

June 20 (Reuters) - Sparebank 1 SMN ::REG-SPAREBANK 1 SMN : SPAREBANK 1 GRUPPEN AND DNB SIGN LETTER OF INTENT RELATING TO INSURANCE MERGER.NEW INSURANCE COMPANY WILL RESULT FROM MERGER OF SPAREBANK 1 FORSIKRING WITH DNB FORSIKRING AS.NEW COMPANY WILL REMAIN SUBSIDIARY OF SPAREBANK 1 GRUPPEN AS, WHICH WILL HAVE STAKE EQUIVALENT TO 60 PER CENT IN NEW COMPANY.LETTER OF INTENT SETS OUT A CONVERSION RATIO OF AROUND 80 PER CENT FOR SPAREBANK 1 GRUPPEN AND AROUND 20 PER CENT FOR DNB..AT TIME WHEN MERGER IS COMPLETED, NEW COMPANY WILL HAVE A MARKET SHARE IN RISK INSURANCE OF MORE THAN 15 PER CENT.  Full Article

Norway FSA recommends approval of merger between Vipps, BankAxept And BankID
Monday, 4 Jun 2018 

June 4 (Reuters) - THE NORWEGIAN FINANCIAL SUPERVISORY AUTHORITY (FSA)::THE NORWAY FINANCIAL SUPERVISORY AUTHORITY (FSA) SAYS IT RECOMMENDS THE FINANCE MINISTRY TO APPROVE THE MERGER OF PAYMENT SERVICES VIPPS, BANKAXEPT AND BANKID.  Full Article

Norway's competition watchdog allows Vipps, Bankid, Bankaxept merger
Friday, 27 Apr 2018 

April 27 (Reuters) - The Norwegian Competition Authority says::TO ALLOW MERGER OF PAYMENT SERVICES VIPPS, BANKID, BANKAXEPT.THE MERGED COMPANY MUST PROVIDE ACCESS FOR ANY COMPETING PAYMENT SOLUTIONS TO BANKID AND BANKAXEPT.  Full Article

DNB's CFO sees 2018 loan losses below historical levels
Thursday, 26 Apr 2018 

April 26 (Reuters) - DNB ASA ::DNB'S CFO: LOSSES WILL FLUCTUATE FROM QUARTER TO QUARTER, BUT GIVEN THE MACRO OUTLOOK, WE EXPECT 2018 LOSSES TO BE LESS THAN THE HISTORICALLY NORMALISED LEVEL OF 17 BASIS POINTS.DNB'S CFO: OUR CAPITAL POSITION ALLOW US TO PURSUE GROWTH OPPORTUNITIES.... AND DELIVER ON OUR DIVIDEND POLICY.  Full Article

DNB Q1 net profit beats forecast as loan losses reversed
Thursday, 26 Apr 2018 

April 26 (Reuters) - DNB ASA ::RIPPLE EFFECTS STRENGTHEN DNB'S PERFORMANCE.DNB Q1 NET PROFIT NOK 5,653 MILLION (REUTERS POLL NOK 5.1 BILLION).DNB Q1 PRETAX PROFIT BEFORE IMPAIRMENTS NOK 6.7 BILLION (REUTERS POLL NOK 7.23 BILLION).DNB Q1 LOAN LOSS REVERSALS NOK 330 MILLION (REUTERS POLL LOSS NOK -604 MILLION).Q1 RETURN ON EQUITY WAS 11.0 PER CENT (9.1).Q1 COST/INCOME RATIO WAS 43.4 PER CENT (45.6).THE GROUP’S OVERRIDING FINANCIAL TARGET IS A RETURN ON EQUITY ABOVE 12 PER CENT TOWARDS THE END OF 2019.SAYS DNB’S DIVIDEND POLICY REMAINS UNCHANGED.DNB Q1 NET INTEREST INCOME NOK 9.0 BILLION (REUTERS POLL NOK 8.74 BILLION).SAYS THE GENERAL MEETING HAS GIVEN THE BOARD OF DIRECTORS AN AUTHORISATION TO REPURCHASE UP TO 3.5 PER CENT OF THE COMPANY'S SHARE CAPITAL AS WELL AS AN AUTHORISATION TO DNB MARKETS OF 0.5 PER CENT FOR HEDGING PURPOSES.OPTIMISM IS BACK IN OIL SECTOR, AND LOSSES HAVE BEEN STRONGLY REDUCED. CONSEQUENTLY, LARGE CORPORATES AND INTERNATIONAL SHOWS HIGHEST INCREASE IN PROFITS AMONG OUR BUSINESS AREAS.DNB KEEPS VIEW LENDING VOLUMES IS ANTICIPATED TO INCREASE 3 TO 4 PER CENT IN 2018 AND 2019.SOME OF IMPAIRMENT LOSSES RECORDED PREVIOUSLY WERE REVERSED. THESE STEMMED PRIMARILY FROM OIL-RELATED OPERATIONS, WHERE A NUMBER OF COMPANIES HAVE BEEN THROUGH SUCCESSFUL RESTRUCTURINGS.SAYS WILL NO LONGER PROVIDE A GUIDING ON LOAN LOSSES.  Full Article

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Norway regulator finds 'insufficient' money laundering controls at DNB

OSLO Norwegian bank DNB does not have sufficient systems in place to combat money laundering, the country's Financial Supervisory Authority (FSA) said on Friday.