Stock and press releases

 

On Friday, 16 December 2011 at 11.30 am CET (= Norwegian time), DNB will hold a conference call about developments in the international shipping markets and the possible effects on the bank's loan portfolio. Participants from DNB will be Leif Teksum, group executive vice president and head of Large Corporates and International, Harald Serck-Hanssen, head of Shipping, Offshore and Logistics, and Trygve Young, chief risk officer. The participants will start by providing background information about the Shipping Division's strategy and portfolio and move on to discussing relevant topics relating to rate developments, newbuilding activity and second-hand ship prices. Examples of how doubtful commitments are handled will also be given. Thereafter, questions will be accepted. The conference call is expected to last for approximately one hour and will be held in English.

Please do the following to participate:

Conference call
Please dial: +47-23184532
State your name and company.

As the conference call will begin promptly, you are kindly asked to dial in 10 minutes before start.

Q and A session
There will be a Q and A session after the presentation.

Replay:
A replay will be available after the conference call.
Please dial: +47-23184502
Pin code: 1862#
Ref. no.: 862#

 

 

 

The EBA's capital requirements calculation was carried out for the DNB Bank Group and showed that the bank has a common equity Tier 1 capital ratio of 7.8 per cent. DNB Bank has had no exposure to Southern European sovereign debt, and the test thus gave no reduction in Tier 1 capital. The bank will need approximately NOK 12 billion to meet the 9 per cent requirement. These funds are available through the holding company and will be transferred to the bank through an increase in equity during the fourth quarter of 2011 and by retaining profits in the bank. The DNB Bank Group will thus pass the stress test and meet the authorities' requirements.

The Norwegian implementation of the EBA requirements differs from the implementation in Sweden in the following key areas:

1. Norwegian banks have been tested in accordance with the Basel II transitional rules. The Swedish banks have been tested based on full implementation of Basel II IRB. If DNB Bank had been tested in line with Swedish banks, its common equity Tier 1 capital ratio would have been 8.4 per cent. 2. Based on IRB measurement, DNB Bank probably has generally higher risk weights on its loans than the Swedish banks. A harmonisation of the weights would most likely have given DNB Bank a significantly higher capital adequacy ratio. 3. DNB Bank has not yet received approval from the Financial Supervisory Authority of Norway to use IRB measurement for all credit portfolios for which such approval has been requested. Such approval may result in a further increase in the capital adequacy ratio.

DNB is of the opinion that it is unfortunate that different supervisory regimes in Norway and Sweden give the market divergent impressions of the strength of the two countries' financial systems and hopes that, in the longer term, regulations will become more harmonised. DNB Bank is adequately capitalised today and will loyally meet requirements and instructions which will be introduced in the future, while seeking to ensure controlled growth and pursuing a prudent dividend policy.   

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

Contact person for analysts:
Per Sagbakken, head of IR/Long-term Funding, tel.: +47 90 66 11 59
Contact persons for the press:
Bjørn Erik Næss, CFO, tel.: +47 41 50 52 01
Trond Bentestuen, group executive vice president, Corporate Communications, tel.: +47 95 02 84 48

The European Banking Authority (EBA) has published the formal recommendation and the final aggregate results of the recapitalisation exercise.

The conclusion is that DNB will pass the sovereign exposure buffer requirements and that the bank has no government bonds which have been written down in its portfolio. The bank does not have a need for a buffer to be held against sovereign debt exposures based on current market prices. 

The EBA has set the limit for common equity Tier 1 capital at minimum 9 per cent. According to the recapitalisation exercise, DNB Bank ASA has a common equity Tier 1 capital ratio of 7.82 per cent. The Group raised this level to 9 per cent with immediate effect by using available internal funds during Q4.

In line with the Group's capitalisation policy, DNB has chosen to keep a significant liquidity reserve in DnB ASA (the holding company) for capitalisation of DNB Bank ASA and other subsidiaries. The DNB Group was able to meet EBA's sovereign exposure buffer requirements by redistributing available internal capital resources. No external capital injection is required.

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Contact person for analysts:
Per Sagbakken, head of IR/Long-term Funding, tel.: +47 90 66 11 59

Contact persons for the press:
Bjørn Erik Næss, CFO, tel.: +47 41 50 52 01
Trond Bentestuen, group executive vice president, Corporate Communications, tel.: +47 95 02 84 48

 

The Norwegian Register of Business Enterprises has today registered the name change from DnB NOR ASA to DNB ASA.

The ticker will be changed to DNB with effect from Monday, 14 November 2011.

 

This information is subject to the disclosure requirement as laid down in Section 5-12 of the Norwegian Securities Trading Act.

Today, DnB NOR ASA will change its name to DNB ASA. The new name will be registered in the Norwegian Register of Business Enterprises in the course of today.

The ticker will be changed to DNB with effect from Monday, 14 November 2011.

A new statement will be issued once the registration in the Register of Business Enterprises has been completed.

Contact persons:
Trond Bentestuen, group executive vice president, Marketing and Communications,
tel.: +47 950 28 448
Thomas Midteide, executive vice president, External Communication,
tel.: +47 962 32 017

This information is subject to the disclosure requirement as laid down in Section 5-12 of the Norwegian Securities Trading Act.

 

DnB NOR has undergone the European Banking Authority's (EBA) sovereign exposure buffer requirements test of European banks. This was carried out in cooperation with Finanstilsynet (the Financial Supervisory Authority of Norway).

The conclusion is that DnB NOR will pass the sovereign exposure buffer requirements and that the bank has no government bonds which have been written down in its portfolio. The bank does not have a need for a buffer to be held against sovereign debt exposures based on current market prices. 

The EBA has set the limit for common equity Tier 1 capital at minimum 9 per cent. According to the test, DnB NOR Bank ASA has a common equity Tier 1 capital ratio of 7.9 per cent. However, the Group can raise this level to 9 per cent with immediate effect by using available internal funds.

In line with the Group's capitalisation policy, DnB NOR has chosen to keep a significant liquidity reserve in DnB NOR ASA (the holding company) for capitalisation of DnB NOR Bank ASA and other subsidiaries. The DnB NOR Group is able to meet EBA's sovereign exposure buffer requirements by redistributing available internal capital resources. No external capital injection is required.

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

Contact person for analysts:
Per Sagbakken, head of IR/Long-term Funding, tel.: +47 90 66 11 59

Contact persons for the press:
Bjørn Erik Næss, CFO, tel.: +47 41 50 52 01
Trond Bentestuen, group executive vice president, Corporate Communications, tel.: +47 95 02 84 48