Stock and press releases

DNB will publish its results for the fourth quarter of 2018 on Thursday, 7 February 2019 at 07.30 (Oslo time).

The fourth quarter results presentation will be held in London at the same day. The event will be webcasted and it will be possible to ask questions online. Link to webcast will be made available at ir.dnb.no.

Please note that there will not be held any presentation in Oslo, nor any analyst- and investor conference call, in relation to the fourth quarter.

Presentation details:

Time:            10.30-12.00 (London time), followed by light lunch
Place:           DNB Bank ASA, 8th Floor, The Walbrook Building, 25 Walbrook, London EC4N 8AF
Registration: Please register your attendance in London to [email protected], no later than 31 January

Agenda:

•  Highlights from 2018 and the way forward - Rune Bjerke (CEO)
•  Q4 results and status on targets presented on the capital markets day in 2017 – Kjerstin Braathen (CFO)
•  IT, transforming the way we do business – Alf Otterstad (Group EVP IT)
•  Positioning personal banking for the future – Ingjerd B. Spiten (Group EVP Personal Banking)
•  Vipps – Rune Garborg (CEO Vipps)

The presentation will be published 10:30 (London time) the same day.

We look forward to see you in London.

With reference to the statement to Oslo Børs dated 15 January 2019: “DNB Livsforsikring AS – transitional effects from new tax rules”.

DNB Livsforsikring AS maintains its tax assessment with respect to the interpretation of the new tax rules for 2018 for life insurance and pension companies, with appurtenant transitional rules. After additional information has been made available to the company, DNB Livsforsikring AS has decided not to record the entire transitional effect as tax income in the financial statement for the fourth quarter. The recorded impact on profits for the DNB Group in the fourth quarter will be changed from approx. NOK 4 billion to approx. NOK 880 million, which will be recognised as income under tax expenses.

The company will consider additional recording of income in the time ahead.

The recording of income will have no effect on capital for the DNB Group before the amount, or part thereof, is distributed as dividends to DNB ASA.

At the beginning of January, the Board of Directors of Oslo Børs VPS Holding ASA invited relevant interested parties to make a bid for the shares of the company. Nasdaq has today announced that they will submit an offer that is higher than the current bid from Euronext.  

After due consideration of the bids, the Board has given the shareholders a comprehensive justification for why they believe the Nasdaq bid to be the best solution, from both a financial and an industrial perspective. The Board of Directors recommends the shareholders to accept the bid from Nasdaq.  

DNB agrees with the Board's assessments of the offers, and will adopt the Board's recommendation. DNB will accept the bid from Nasdaq. 

DNB has historically been of the opinion that the ownership of Oslo Børs VPS should have a strong foundation in the Norwegian market. With the options that are now available, we believe that Nasdaq will offer the strategically best solution for the Norwegian capital market and for the Norwegian Central Securities Depository (VPS). 

DNB owns 19.82 per cent of the shares in Oslo Børs VPS through the company portfolio in DNB Livsforsikring AS.

DNB will publish its results for the fourth quarter of 2018 on Thursday, 7 February 2019 at 07.30 (Oslo time).

The fourth quarter results presentation will be held in London at the same day. The event will be webcasted and it will be possible to ask questions online. Link to webcast will be made available at ir.dnb.no.

Please note that there will not be held any presentation in Oslo, nor any analyst- and investor conference call, in relation to the fourth quarter.

Presentation details:

Time:            10.30-12.00 (London time), followed by light lunch
Place:           DNB Bank ASA, 8th Floor, The Walbrook Building, 25 Walbrook, London EC4N 8AF
Registration: Please register your attendance in London to [email protected], no later than 31 January

Agenda:

•  Highlights from 2018 and the way forward - Rune Bjerke (CEO)
•  Q4 results and status on targets presented on the capital markets day in 2017 – Kjerstin Braathen (CFO)
•  IT, transforming the way we do business – Alf Otterstad (Group EVP IT)
•  Positioning personal banking for the future – Ingjerd B. Spiten (Group EVP Personal Banking)
•  Vipps – Rune Garborg (CEO Vipps)

The presentation will be published 10:30 (London time) the same day.

We look forward to see you in London.

S&P upgraded today DNB Bank ASA’s long-term debt rating to AA- from A+. S&P also upgraded the short-term debt rating to A-1+ from A-1. The outlook is changed to stable.

For further details, please see attached press release: 2019 01 22 SP rating report DNB Bank ASA

In reference to  yesterdays stock exchange release DNB Livsforsikring AS – transitional effects from new tax rules  we would like to clarify that the accounting effects will have a positive impact on DNB ASAs fourth quarter results for 2018 of about NOK 4 billion, which is recorded as income under tax expenses.

Based on our evaluation and understanding of the new tax rules with appurtenant transitional rules, the transition will result in a tax loss for DNB Livsforsikring. This means that the company will have a tax income of about NOK 4 billion for 2018, not taxable income as previously stated.