Stock and press releases

07:30 CET – result release
DNB’s Q4 2015 results will be released at 07:30 am CET on Thursday, 04 February 2016, and we would like to invite you to the following presentations:

09:30 CET – press conference & live web-TV
A press conference (in Norwegian) will be held on Thursday, 04 February at 9:30 am CET at DNB’s head office in Bjørvika, Dronning Eufemias gate 30, 0191 Oslo. For those who are unable to attend the presentation in Bjørvika, there will be a live web-TV broadcast of the conference (in Norwegian). For further information, please visit www.dnb.no/ir. Please register your attendance in Oslo at [email protected].

14:00 CET – investors and analyst conference call & phone-cast
A conference call for investors and analysts will be held on Thursday, 04 February at 2:00 pm CET. To attend the conference call we kindly ask you to dial in 10 minutes before start +47 21 56 33 18 or international: +44 (0)20 3003 2666 or US: +1 646 843 4608. Password: DNB Q4.

You can also attend the call by listen only mode at the phone-cast link http://presenter.qbrick.com/?pguid=06dd8548-a8b5-4afe-8cd2-485bbc8b0c14. A replay of the phone-cast will be available after the call (at the same link as above).

Friday 05 February 0715 for 0730 GMT – analyst and investor breakfast in London
An analyst and investor breakfast will be held in London on Friday, 05 October at 0715 am for 0730 am (local time/GMT) at DNB Bank ASA London Branch, 8th Floor, The Walbrook Building, 25 Walbrook London EC4N8AF (please note the address). Please register your attendance in London at [email protected].

For further information, please contact:

Rune Helland, Head of IR: phone: +47 23 26 84 00 / mobile: +47 977 13 250
Amra Koluder, phone: +47 23 26 84 08 / mobile: +47 977 35 378

Thor Tellefsen, phone: +47 23 26 84 04 / mobile:+47 915 44 385
 

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DNB has decided to change its pension scheme from a defined-benefit to a defined-contribution scheme for the majority of its employees in Norway. The change is necessary to adapt to the Norwegian pension reform and the decision has been made in consultation with the employee representatives. The new pension scheme will contribute to reducing future pension commitments. De-recognition of existing pension commitments will give a pre-tax gain of approximately NOK 2 billion in the fourth quarter and reduce pension costs by a corresponding amount.

This will also have a positive effect on CET 1.

For further information, please contact Investor Relations in DNB:
Rune Helland : +47 23268400
Thor Tellefsen : +47 23268404

In the fourth quarter of 2015, the DNB Group will record a negative effect of basis swaps connected to funding of approximately NOK 4 million.

In the fourth quarter of 2014, there was a positive effect of basis swaps of NOK 508 million.

Basis swaps are derivative contracts entered into in connection with long-term funding in international capital markets where the relevant currency is converted to Norwegian kroner. These swaps are hedging instruments, and over the lifetime of the derivatives the mark-to-market adjustments will have zero effect.

For further information, please contact Investor Relations in DNB:
Rune Helland : +47 23268400
Thor Tellefsen : +47 23268404

The Norwegian Financial Supervisory Authority of Norway (NFSA) has approved the use of transitional rules for technical provisions for DNB Livsforsikring AS under Solvency II.

 The transitional rules can be recalculated quarterly.

Contacts:
Rune Helland, Head of Investor Relations. Ph: +47 97713250
Anders Skjævestad, CEO DNB LIV. Telefon: +47 93407403

DNB will sell Oslo City to a consortium consisting of Entra and Steen & Strøm. The property is valued at approximately NOK 5 billion.

Oslo City is a combined shopping centre and office building with a total floor space of 80,535 square metres. The property covers a whole city block and has a very central location in the immediate vicinity of Oslo Central Station. 

"We are happy to have succeeded in our negotiations to sell Oslo City with two well-recognised and professional players in their respective markets. We have owned the building since 1994, and during these years, Oslo City has been developed to become one of Norway’s best shopping centres. The next development phase will take place under new ownership," says Tom Rathke, group executive vice president in DNB.

"Developing, purchasing and selling properties is an integral part of being a large player in the property market, and we are prepared to purchase and sell other properties to further develop our property portfolio. Over the last few years, we have reduced our property portfolio through sales, which is mainly due to good transaction opportunities. In turn, this has given us the chance to realise strong gains for our pension customers," says Rathke. 

Pangea Property Partners has acted as adviser for DNB.

Contact: 

Vidar Korsberg Dalsbø
Communications adviser DNB
Tlf: 99380389, [email protected]

DNB is hosting its Capital Markets Day in London today.

DNB’s key financial ambitions for 2016 - 2018 are:

Return on equity (ROE): Above 12%

CET1 capital ratio: Minimum 15% as capital level (CET1) as at 31 December 2016

Dividend ambitions: 2015: around 30%, 2016: 30-50% and 2017: >50%

Cost/income ratio: Below 40% towards 2018

Other ambitions are covered in the attached presentations.

DNB will reach the capital requirement of 15 per cent through strong retained earnings and capital efficiency measures. The capital efficiency measures expect to have a total effect of 80–120 bps from end Q3 2015 to Q4 2016 and include asset disposal/reallocation and financial restructuring. DNB’s capital target for 2017 is about 15.5% and includes a management buffer of approximately 50 bps.

For more information:

Rune Helland, head of Investor Relations, mobile (+47) 977 13 250

Thomas Midteide, group EVP, Corporate Communications, mobile (+47) 962 32 017

The presentations from the event are attached below or available on www.dnb.no/ir

See the presentation from the CMD on Web-TV from your desktop PC here from 12.30 GMT / 13.30 CET or if problems with link go to https://www.dnb.no/en/about-us/investor-realtions/capitalmarketday2015.html or www.dnb.no/ir

See the presentation from the CMD on Web-TV from your mobile device / tablet here from 12.30 GMT / 13.30 CET or if problems go to https://www.dnb.no/en/about-us/investor-realtions/capitalmarketday2015.html or: m.dnb.no