Stock and press releases

The DNB group's annual report and Pillar 3-report for 2017 is published today, 8th of March 2018, at DNB's website ir.dnb.no

DNB ASA has finalised its share buy-back programme announced on 1 February 2018. A total of 5.4 million shares have been repurchased in the open market, whereas a total of 2.7 million shares held by the Norwegian government will be redeemed, subject to approval by DNB ASA’s Annual General Meeting in 2018, so that its ownership interest in DNB ASA of 34.0 per cent will remain unaffected following the completion of the buy-back programme. The weighted average purchase/redemption price for the 5.4 million shares is NOK 155.68

This is the third share buy-back programme that DNB has finalised since the Annual General Meeting in 2017. The three programmes, including the shares held by the Norwegian government, represent a total of 24 431 973 shares. 16 125 102 of the shares have been bought in the open market.

The shares comprised by the share buy-back programme will be cancelled subject to approval by the Annual General Meeting in 2018. Together with the 16 287 982 shares comprised by the two share buy-back programmes completed on 14 August 2017 and 8 December respectively, the total number of DNB ASA’s registered shares will be reduced by 1.5 per cent from today's 1 628 798 861.

For further information about the share buy-back programme, DNB ASA refers to the Oslo Stock Exchange notification made on 1 February 2018 (available from www.newsweb.no).

During week 7, DNB ASA has purchased 1 960 000 own shares at an average price of NOK 156.99 per share. After this, DNB ASA owns a total of 15 575 102 own shares.

The repurchase of shares is part of the new share buy-back programme announced by DNB ASA on 1 February 2018. The buy-back programme comprises up to approximately 8.1 millon shares, of which up to approximately 5.4 million will 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 2018, so that its 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 1 February 2018 (available from www.newsweb.no).

During week 5 and 6, DNB ASA has purchased 2 865 034 own shares at an average price of NOK 154.53 per share. After this, DNB ASA owns a total of 13 615 102 own shares.

The repurchase of shares is part of the new share buy-back programme announced by DNB ASA on 1 February 2018. The buy-back programme comprises up to approximately 8.1 millon shares, of which up to approximately 5.4 million will 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 2018, so that its 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 1 February 2018 (available from www.newsweb.no).

DNB is part of a group of Nordic banks currently exploring the possibility of establishing a pan-Nordic payment infrastructure supplemented by common products.

The Nordic payment markets are among the most advanced and well-functioning in the world delivering first-class services to individuals and corporates across the region. At the same time, and despite close ties between the countries, the current payment infrastructures are highly fragmented along national borders. A harmonization of the domestic infrastructures and the products offered would ease cross-border payments and foster further trade between the Nordic countries, stimulating growth and employment. 

A group of major Swedish, Danish, Norwegian and Finnish banks is currently exploring the possibility of establishing a pan-Nordic payment infrastructure supplemented by common products. The vision is to create, within the Nordics, the worlds’ first area for domestic and cross-border payments in multiple currencies (SEK, DKK, NOK and EUR). Based on open access and common European standards, the infrastructure will contribute to increased competition among payment service providers in the Nordics.    

Besides increased integration, a harmonized Nordic payment infrastructure will create a better foundation for innovation and encourage the development of new products and services to the benefit of all end-users. This will in turn enable the Nordics to maintain their position as some of the worlds’ most digital societies. It will also be in line with present-day requirements for payment infrastructures as financial utilities, where scale, security, speed and efficiency have become key. The initiative shares the objectives of current domestic infrastructure projects in Norway and Sweden, but aims at achieving them on a Nordic scale.

Consultations with relevant stakeholders will take place as appropriate.

The banks behind the initiative are Danske Bank, DNB, Handelsbanken, Nordea, OP Financial Group, SEB and Swedbank.

Press contact: Thomas Midteide, group executive vice president, Media & Marketing, tel.: + 47 962 32 017

Olaug Svarva has been nominated as new board chairman in DNB ASA and
DNB Bank ASA. She will succeed Anne Carine Tanum, who has held this position since 2008.

DNB’s Election Committee has nominated Olaug Svarva to the position as new board chairman. She will be formally elected by DNB’s Annual General Meeting on 24 April 2018. 

Olaug Svarva has been CEO of Folketrygdfondet since 2006, where she has previously held the role of investment director for Equities. She also has experience from SpareBank 1 Aktiv Forvaltning and SpareBank 1 Livsforsikring as CEO and investment director, respectively.  

Olaug Svarva has a Bachelor of Science in Business Administration and a Master of Business Administration from the University of Denver and is authorised as a portfolio manager by the Norwegian Society of Financial Analysts. 

Anne Carine Tanum will retire as board chairman at the Annual General Meeting in April. She has been board chairman since 2008 and a board member since 1999.