DNB ASA held an Extraordinary General Meeting on 30 November 2020. The General Meeting was held digitally as a result of the measures introduced due to the COVID-19 outbreak.

All items on the agenda were adopted as proposed, cf. the notice published on 6 November 2020, and the General Meeting decided to:

• approve the merger plan regarding the merger with DNB Bank ASA
• authorise the Board of Directors to decide a dividend for 2019 of up to NOK 9 per share
• authorise the Board of Directors to buy back shares

The ex-dividend day will be announced if/when the Board of Directors decides to distribute a dividend for 2019.

The minutes from the General Meeting are attached.

Company information

This information is subject to the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act. 

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Contact information
For further information, please contact:
Investor contact: Rune Helland, Head of Investor Relations, tel. (+47) 23 26 84 00 / (+47) 97 71 32 50
Media contact: Thomas Midteide, Group Executive Vice President, Communications, tel.: (+47) 96 23 20 17

In February 2020, Finanstilsynet conducted an ordinary AML inspection in DNB. DNB has now received a preliminary report from the inspection, which indicates that there is a possibility that an administrative fine of NOK 400 million may be imposed on the bank. DNB has not been complicit in money laundering, but Finanstilsynet criticises the bank for inadequate compliance with the Norwegian Anti-Money Laundering Act.

On the basis of the criticism, Finanstilsynet writes in a preliminary report that it is considering imposing an administrative fine of NOK 400 million on the bank. This constitutes about 7 per cent of the maximum amount Finanstilsynet is at liberty to impose, and 0.7 per cent of DNB's annual turnover. The maximum administrative fine it is possible to impose corresponds to 10 per cent of a company's annual turnover.

The bank will now examine Finanstilsynet's preliminary report and submit a response to Finanstilsynet by the deadline. As Finanstilsynet has not yet finished processing the case and has thus not reached a final conclusion, DNB cannot go into further detail on the content of the preliminary report.

The possible fine that DNB has been notified of is not related to any suspicions of money laundering or complicity in money laundering, but rather what Finanstilsynet considers to be inadequate compliance with the anti-money laundering rules and legislation. The inspection only applies to DNB's operations in Norway.

DNB takes the notice from Finanstilsynet very seriously. The fight against financial crime is an important part of DNB's corporate responsibility, and it is a task on which the company spends considerable resources. This work has the highest priority in DNB. DNB has implemented extensive measures and investments in recent years to comply with the anti-money laundering rules and legislation.

Delivering on the authorities' requirements and expectations in the area of anti-money laundering is ongoing work. DNB can continuously improve on this work, and the bank will continue to give priority to doing so in the time ahead.

Contact:
Group Executive Vice President of Communications, Thomas Midteide, tel.: (+47) 96 23 20 17
Head of Investor Relations, Rune Helland, tel.: (+47) 97 71 32 50