Stock and press releases

On 25 August 2016 DNB and Nordea entered into an agreement to combine their operations in Estonia, Latvia and Lithuania in order to create a leading independent main financial services provider in the Baltics. The completion was conditional upon receiving regulatory approvals. After receiving all approvals from the respective regulatory bodies, the transaction closed today.

Luminor will be the third largest financial services provider in the Baltic banking market with a market share of 16 per cent in deposits and 23 per cent in lending. Luminor will comprise Nordea’s approximately 350,000 and DNB’s 930,000 customers across the three markets. The operations will have approximately 3,000 employees and approximately EUR 15bn in assets. Total gross lending of the Luminor portfolio will amount to approximately EUR 12bn including both consumer and corporate lending and deposits will total EUR 9bn. Luminor will have a common equity tier 1 capital ratio of 17 per cent and a common equity tier 1 capital of EUR 1.6bn.

DNB will hold 44 per cent of the economic rights and 50% of the voting rights of the new company. In DNB’s results, Luminor will be accounted for using the equity method from Q4 2017.

Media inquiries:
EVP Corporate Communication: Even Westerveld +47 400 16 744
Group EVP Corporate Communication: Thomas Midteide +47 962 32 017

During week 38 and 39 2017, DNB ASA has purchased 818,000 own shares at an average price of NOK 160.24 per share. After this, DNB ASA owns a total of 6,193,034 own shares.

The repurchase of shares is part of the new share buy-back programme announced by DNB ASA on 21 September 2017. The buy-back programme comprises up to approximately 8.1 million 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 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 21 September 2017 (available from www.newsweb.no).

DNB ASA has decided to initiate a new share buy-back programme. Similarly to the share buy-back programme completed by DNB ASA on 14 August 2017, the new share buy-back programme would also comprise up to 0.5% of its registered shares, representing a total of approximately 8.1 million shares.

The share buy-back programme will be carried out on the basis of the authorization given by DNB ASA’s annual general meeting on 25 April 2017, where it was approved that DNB ASA may repurchase shares up to a maximum of 1.5% of its registered shares for purposes of enabling an optimal level of capital in the company. DNB ASA may at a later stage decide to initiate further share buy-back programmes, up to the maximum of 1.5% as approved by the annual general meeting.

Up to approximately 5.4 million of the shares comprised by the share buy-back programme will be repurchased in the open market. The remaining shares will be redeemed from the state of Norway through the Ministry of Trade, Industry and Fisheries, according to an agreement between DNB ASA and the state of Norway and subject to approval from DNB ASA’s annual general meeting in 2018. According to the agreement, the state of Norway shall redeem shares on a proportionate basis so that its current ownership interest in DNB ASA of 34.00% remains unaffected following completion of the buy-back programme.

DNB ASA will seek approval from the annual general meeting in 2018 for cancellation of the repurchased shares and a corresponding redemption of the proportionate number of shares owned by the state of Norway. The redemption of the shares owned by the state of Norway shall be made against a payment which shall correspond to an average volume weighted price of DNB ASA’s repurchase of shares in the open market as a part of the buy-back programme, including an interest compensation and an agreed adjustment for dividend paid on the redemption shares in the buy-back period (if any).

For further information, DNB ASA refers to the minutes from DNB ASA’s annual general meeting of 25 April 2017, available at www.dnb.no.

On Tuesday, 21 November 2017, DNB will host the Group's Capital Markets Day in London.  

Date: Tuesday, 21 November 2017
Time: 12:30 pm
Location: Hotel Claridge's, Brook Street, Mayfair, London W1K 4HR, England

Registration and lunch from 11:30 am – 12:30 pm

The event will also be webcasted.

Information about the agenda and practical details will be provided. 

DNB ASA has finalised its share buy-back programme announced on 12 July 2017. A total of 5.4 million shares were repurchased in the open market, whereas a total of 2.7 million shares will be redeemed from the state of Norway, so that its ownership interest in DNB ASA of 34 per cent will remain unaffected following completion of the buy-back programme. The weighted average purchase/redemption price for the 5.4 million shares is NOK 152.75 and with this DNB ASA will return approximately NOK 821 million to shareholders.

The 8.1 million shares will be cancelled subject to approval by the annual general meeting in 2018, whereby the number of DNB ASA’s registered shares will be reduced by 0.5 per cent from today's 1 628 798 861.

For further information, please contact:

Investor contacts:
Rune Helland, head of Investor Relations, tel. ( 47) 23 26 84 00 / ( 47) 977 13 250
Amra Koluder, SVP Investor Relations, tel. ( 47) 23 26 84 08 / ( 47) 977 35 378

Background information about the finalised programme

DNB ASA has decided to initiate a share buy-back programme comprising up to 0.5 per cent of its registered shares, representing a total of 8.1 million shares.

The buy-back programme will be carried out on the basis of the authorization given by DNB ASA’s annual general meeting on 25 April 2017, where it was approved that DNB ASA may repurchase shares up to a maximum of 1.5 per cent of its registered shares. DNB ASA may at a later stage decide to initiate further share buy-back programmes, up to the maximum limit approved by the annual general meeting.

Up to 5.4 million of the shares comprised by the buy-back programme will be repurchased in the open market. The remaining shares will be redeemed from the state of Norway through the Ministry of Trade, Industry and Fisheries, according to an agreement between DNB ASA and the state of Norway and subject to approval from DNB ASA’s annual general meeting in 2018. According to the agreement, the state of Norway shall redeem shares on a proportionate basis so that its current ownership interest in DNB ASA of 34 per cent remains unaffected following completion of the buy-back programme.

DNB ASA will seek approval from the annual general meeting in 2018 for cancellation of the repurchased shares and a corresponding redemption of the proportionate number of shares owned by the state of Norway. The redemption of the shares owned by the state of Norway shall be made against a payment which shall correspond to an average volume weighted price of DNB ASA’s repurchase of shares in the open market as a part of the buy-back programme, including an interest compensation and an agreed adjustment for dividend paid on the redemption shares in the buy-back period (if any). Subject to approval by the annual general meeting in 2018, the total number of registered shares of DNB ASA will be reduced by up to 0.5 per cent.

In order to enable an optimal level of capital in the company, DNB ASA has decided to initiate a share buy-back programme comprising up to 0.5% of its registered shares, representing a total of approximately 8.1 million shares.

The buy-back programme will be carried out on the basis of the authorization given by DNB ASA’s annual general meeting on 25 April 2017, where it was approved that DNB ASA may repurchase shares up to a maximum of 1.5% of its registered shares. DNB ASA may at a later stage decide to initiate further share buy-back programmes, up to the maximum of 1.5% as approved by the annual general meeting.

Up to approximately 5.4 million of the shares comprised by the buy-back programme will be repurchased in the open market. The remaining shares will be redeemed from the state of Norway through the Ministry of Trade, Industry and Fisheries, according to an agreement between DNB ASA and the state of Norway and subject to approval from DNB ASA’s annual general meeting in 2018. According to the agreement, the state of Norway shall redeem shares on a proportionate basis so that its current ownership interest in DNB ASA of 34.00% remains unaffected following completion of the buy-back programme.

DNB ASA will seek approval from the annual general meeting in 2018 for cancellation of the repurchased shares and a corresponding redemption of the proportionate number of shares owned by the state of Norway. The redemption of the shares owned by the state of Norway shall be made against a payment which shall correspond to an average volume weighted price of DNB ASA’s repurchase of shares in the open market as a part of the buy-back programme, including an interest compensation and an agreed adjustment for dividend paid on the redemption shares in the buy-back period (if any).

For further information, DNB ASA refers to the minutes from DNB ASA’s annual general meeting of 25 April 2017, available at www.dnb.no.

Investor contacts:
Rune Helland, head of Investor Relations, tel. (+47) 977 13 250
Amra Koluder, SVP Investor Relations, tel. (+47) 977 35 378