Stock and press releases

DNB has today decided to increase interest rates on home mortgages by up to 0.25 percentage points. “After a long period of historically low mortgage rates, it is not surprising that interest rates are now on their way up,” says Ingjerd Blekeli Spiten, head of Personal Banking in DNB. 

“A number of factors affect the interest rates customers pay on their home mortgages.
Norges Bank has long been expected to increase its key policy rate at its monetary policy meeting on 20 September, partly due to the signals given by the central bank itself. This has resulted in higher money market rates for some time,” says Ingjerd Blekeli Spiten. 

“Although interest rate increases raise borrowing costs, the current interest rate increase has been expected and announced for a long time. Consequently, we believe that most borrowers are prepared for this," says Ingjerd Blekeli Spiten. 

“We will still have competitive home mortgage rates after this adjustment and will continue to give priority to low interest rates for young people entering the housing market and customers with a home that qualifies for green home mortgages,” says Spiten.

For existing customers, the interest rate adjustments will become effective as of November 4th 2018. All customers whose interest rates will be adjusted, will receive a letter by regular mail or information in the Internet bank by the end of next week, explaining how their mortgage will be affected.

The new best indicative interest rate will be 2.30 per cent for first-time home buyers and customers with green home mortgages. 

During week 37 2018, DNB ASA has purchased 180 000 own shares at an average price of NOK 169.91 per share. After this, DNB ASA owns a total of 9 683 000 own shares.

The repurchase of shares is part of the share buy-back programme announced by DNB ASA on 6 June 2018. The buy-back programme comprises up to approximately 24.1 million shares, of which up to approximately 15.9 million shares may be repurchased in the open market. The rest will be redeemed from the state of Norway on a proportionate basis, subject to approval from DNB ASA's annual general meeting in 2019, so that its current ownership interest of 34.00% will remain unaffected following completion of the buy-back programme.

For further information about the share buy-back programme, DNB ASA refers to the Oslo Stock Exchange notification made on 6 June 2018 (available from www.newsweb.no).

(Oslo, 13 September 2018) DNB and Nordea, which decided to merge their respective Baltic operations in 2016, have entered into an agreement with Blackstone to sell part of their shares in the merged bank, Luminor.

Luminor Group was established as an independent Baltic bank in 2017, built on the Baltic businesses of Nordea and DNB. Today, Luminor is the 3rdlargest financial services provider in the region, with a 23% lending market share, €15 billion of assets, 3,000 employees and 64 branches across the region. 

The buyer is a consortium led by private equity funds managed by Blackstone, one of the world’s leading investment firms, and with a strong international presence and experience within the financial services sector.

“This is a good deal for both Luminor and the current owners. Luminor has a strong position in the Baltic market, and Blackstone will be a solid majority owner for the next phase of Luminor’s journey,” says Kjerstin Braathen, chief financial officer in DNB.

As part of the transaction, the consortium will acquire a 60% majority stake in the bank from its current owners Nordea Bank AB (“Nordea”) and DNB BANK ASA (“DNB”) for a cash consideration of €1 billion. DNBs stake in Luminor Group was 43,5 per cent before the transaction. After the transaction, DNB will own 20 per cent of the shares in Luminor Group.

“We will stay on as a minority owner in Luminor because we believe the company is well positioned to create value for customers, employees and shareholders. The bank has a strong digital focus, talented staff and broad Baltic operations,” says Braathen.

The transaction as such will not have any significant impact on the DNB Group’s overall financial results. 

During week 35 2018, DNB ASA has purchased 465 000 own shares at an average price of NOK 171.89 per share. After this, DNB ASA owns a total of 9 503 000 own shares.

The repurchase of shares is part of the share buy-back programme announced by DNB ASA on 6 June 2018. The buy-back programme comprises up to approximately 24.1 million shares, of which up to approximately 15.9 million shares may be repurchased in the open market. The rest will be redeemed from the state of Norway on a proportionate basis, subject to approval from DNB ASA's annual general meeting in 2019, so that its current ownership interest of 34.00% will remain unaffected following completion of the buy-back programme.

For further information about the share buy-back programme, DNB ASA refers to the Oslo Stock Exchange notification made on 6 June 2018 (available from www.newsweb.no).

During week 34 2018, DNB ASA has purchased 501 000 own shares at an average price of NOK 168.29 per share. After this, DNB ASA owns a total of 9 038 000 own shares.

The repurchase of shares is part of the share buy-back programme announced by DNB ASA on 6 June 2018. The buy-back programme comprises up to approximately 24.1 million shares, of which up to approximately 15.9 million shares may be repurchased in the open market. The rest will be redeemed from the state of Norway on a proportionate basis, subject to approval from DNB ASA's annual general meeting in 2019, so that its current ownership interest of 34.00% will remain unaffected following completion of the buy-back programme.

For further information about the share buy-back programme, DNB ASA refers to the Oslo Stock Exchange notification made on 6 June 2018 (available from www.newsweb.no).

During week 33 2018, DNB ASA has purchased 535 000 own shares at an average price of NOK 166.02 per share. After this, DNB ASA owns a total of 8 537 000 own shares.

The repurchase of shares is part of the share buy-back programme announced by DNB ASA on 6 June 2018. The buy-back programme comprises up to approximately 24.1 million shares, of which up to approximately 15.9 million shares may be repurchased in the open market. The rest will be redeemed from the state of Norway on a proportionate basis, subject to approval from DNB ASA's annual general meeting in 2019, so that its current ownership interest of 34.00% will remain unaffected following completion of the buy-back programme.

For further information about the share buy-back programme, DNB ASA refers to the Oslo Stock Exchange notification made on 6 June 2018 (available from www.newsweb.no).