Stock and press releases

DNB will publish its results for the second quarter of 2017 on Wednesday, 12 July 2017 at 7.30 am CET.

12 July at 9.30 am CET: press conference in English accessible via live web TV
Place: DNB’s head office in Bjørvika, Dronning Eufemias gate 30, Oslo. A live broadcast will be available at www.dnb.no/en/ir.
Please register your attendance in Oslo at [email protected].

The press conference will be held in English.

12 July at 1.30 pm CET: conference call for analysts and investors
To attend the conference call: dial (+47) 21 56 33 18 or from outside Norway: +44 (0) 20 3003 2666 or from the US: +1 212 999 6659.
Password: DNB. The phonecast (listen only mode) and replay will be available at www.dnb.no/en/ir.

13 July at 7.45 am GMT: breakfast conference for analysts in London
Place: DNB Bank ASA, 8th Floor, The Walbrook Builiding, 25 Walbrook, London EC4N 8AF. Please register your attendance in London at [email protected].

Management will present the results followed by a Q&A session.

DNB will publish its results for the second quarter of 2017 on Wednesday, 12 July 2017 at 7.30 am CET.

12 July at 9.30 am CET: press conference in English accessible via live web TV
Place: DNB’s head office in Bjørvika, Dronning Eufemias gate 30, Oslo. A live broadcast will be available at www.dnb.no/en/ir.
Please register your attendance in Oslo at [email protected].

The press conference will be held in English.

12 July at 1.30 pm CET: conference call for analysts and investors
To attend the conference call: dial (+47) 21 56 33 18 or from outside Norway: +44 (0) 20 3003 2666 or from the US: +1 212 999 6659.
Password: DNB. The phonecast (listen only mode) and replay will be available at www.dnb.no/en/ir.

13 July at 7.45 am GMT: breakfast conference for analysts in London
Place: DNB Bank ASA, 8th Floor, The Walbrook Builiding, 25 Walbrook, London EC4N 8AF. Please register your attendance in London at [email protected].

Management will present the results followed by a Q&A session.

Reference is made to the annual general meeting of DNB ASA held on 25 April 2017, where the Board of Directors was authorised to repurchase up to 2.0 per cent of the shares of the company, of which 0.5 per cent can only be used for hedging purposes in DNB Markets.

The Norwegian FSA has approved the authorisation, provided that the targeted capital level is met following the repurchase, and that the sum of the amounts spent on dividends and the repurchase of shares does not exceed 75 per cent of the annual profit for 2016.

For further information, please contact:
Rune Helland, Head of Investor Relations
Office:  +47 23 26 84 00
Mob:    +47 977 13 250
E-mail: [email protected] 

On 8 March 2017, the Board of Directors of DNB ASA decided to offer employees in DNB ASA shares with a discount of NOK 1,500-3,000.

The shares were allotted today, 22 May 2017, at a gross price of NOK 144.7877 per share.

Attached is a list of the primary insiders that availed themselves of the offer.

DNB recorded profits of NOK 4 544 million in the first quarter of 2017, a reduction of NOK 678 million from the first quarter of 2016, reflecting negative effects from the bank’s basis swaps. The bank is further increasing its lending to private individuals and small and medium-sized enterprises and is strongly committed to developing new digital services. Impairment losses on loans to large corporates were somewhat lower in the first quarter.  

Home mortgages and other loans to private individuals constitute the largest business area in DNB. This trend has become even more evident over the past year. While lending to large corporates has been gradually reduced, there is an increase in lending to private individuals and small and medium-sized enterprises. Loans to private individuals now total more than NOK 700 billion.

DNB’s interest income was up in the first quarter compared with the previous quarter, in spite of two fewer interest days. The trend of declining spreads now appears to have been reversed.

“We are pleased that we have succeeded in increasing interest income in a market characterised by fierce competition and very low interest rates. We helped some 37 000 customers realise their dream of a new home during the quarter, and volumes were up for both private individuals and small and medium-sized enterprises, just as we planned,” says Rune Bjerke, group chief executive.

Leading the digital race
One of the highlights of the quarter was the news that DNB entered into an alliance with 105 Norwegian savings banks to join forces over the Vipps payment app. Together, they will ensure that Vipps will deliver the most user-friendly and innovative payment services to Norwegian private individuals and companies.

Vipps is also an example proving that DNB is launching new products and services on digital platforms at a high speed.

“The bank is undergoing extensive changes as it both renews its competencies and develops many new digital services. We are among the first banks in the world to fully automate the processing of home mortgages. Additional Vipps services will soon be launched, and we will also introduce a number of new apps which will make banking even easier for our customers,” says Bjerke.

From bank to adviser
DNB’s interest income increased by NOK 149 million from the fourth quarter of 2016. Compared with the first quarter of 2016, there was a NOK 192 million decline in interest income.

Other income from large corporates rose by NOK 174 million in the first quarter compared with the year-earlier period. Among other things, DNB has acted as adviser in an increasing number of syndications, debt capital issues and other investment banking services under the auspices of the brokerage house DNB Markets.

Operating expenses were reduced by NOK 270 million compared with the first quarter of 2016. However, there were significant restructuring costs in 2016 after DNB decided in February to close 59 branch offices.

Significant reduction in losses
Impairment losses on loans and guarantees totalled NOK 562 million for the first quarter, down NOK 612 million from the corresponding quarter in 2016. The outlook for the Norwegian economy is generally more positive.

“We have remained optimistic all along with respect to Norway’s ability to adjust to the changes. Even though some are still struggling, we are now seeing an increasing number of bright spots in the Norwegian economy. Investment is picking up, consumer confidence has risen, and the labour market has improved further. Norway is quite simply faring well through a demanding period of restructuring,” concludes Bjerke.

Financial key figures for the first quarter of 2017

•  Pre-tax operating profit before impairment was NOK 6.5 billion (7.9)
•  Profit for the period was NOK 4.5 billion (5.2)
•  The common equity Tier 1 capital ratio (transitional rules) was 15.8 per cent (15.2)
•  Earnings per share were NOK 2.64 (3.14)
•  Return on equity was 9.1 per cent (11.2)
•  The cost/income ratio was 45.6 per cent (41.8)

Comparable figures for the first quarter of 2016 in parentheses.

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

Contact persons:
Thomas Midteide, group executive vice president, Corporate Communications, tel.: + 47 962 32 017
Rune Helland, head of Investor Relations, tel: +47 977 13 250

The quarterly report, presentation and Fact Book can be downloaded from
www.dnb.no/investor-relations 

28 April at 9.30 am CET: press conference in English accessible via live web TV
Place: DNB's head office in Bjørvika, Dronning Eufemias gate 30, Oslo. A live
broadcast will be available at www.dnb.no/en/ir.
Please register your attendance in Oslo at [email protected]

The press conference will be held in English.

28 April at 1.30 pm CET: conference call for analysts and investors
To attend the conference call: dial (+47) 21 56 33 18 or from outside Norway:
+44 (0) 20 3003 2666 or from the US: +1 212 999 6659.
Password: DNB Q1. The phonecast (listen only mode) and replay will be available at www.dnb.no/en/ir.

2 May at 7.45 am GMT: breakfast conference for analysts in London
Place: UBS 5 Broadgate, London, EC2M 2QS. Please register your attendance in
London at [email protected]

Management will present the results followed by a Q&A session.