February 1, 2018 / 6:43 AM / 7 months ago

BRIEF-DNB Q4 net profit beats forecast

Feb 1 (Reuters) - Dnb Asa:

* DNB Q4 NET PROFIT NOK ‍6,374​ MILLION (REUTERS POLL NOK 5.31 BILLION)

* DNB PROPOSES 2017 DIVIDEND NOK ‍7.10​ PER SHARE (REUTERS POLL NOK 6.75 PER SHARE)

* DNB Q4 PRETAX PROFIT BEFORE IMPAIRMENTS NOK ‍7.3​ BILLION (REUTERS POLL NOK 7.85 BILLION)

* DNB Q4 NET INTEREST INCOME NOK 8.86‍​ BILLION (REUTERS POLL NOK 8.82 BILLION)

* DNB Q4 PRETAX OPERATING PROFIT NOK 6.82‍​ BILLION (REUTERS POLL NOK 6.87 BILLION)

* DNB Q4 LOAN LOSSES NOK 402‍​ MILLION (REUTERS POLL NOK 981 MILLION)

* ‍COMMON EQUITY TIER 1 CAPITAL RATIO (TRANSITIONAL RULES) WAS 16.4 PER CENT (16.0)​

* ‍Q4 COST/INCOME RATIO WAS 45.3 PER CENT (41.2)​

* ‍DNB’S LONG-TERM AMBITION IS TO DISTRIBUTE A MINIMUM OF 50 PER CENT OF PROFITS AS DIVIDENDS TO ITS SHAREHOLDERS​

* FOR THE FULL YEAR 2018, IMPAIRMENT LOSSES ARE EXPECTED TO REPRESENT APPROXIMATELY 17 BASIS POINTS OF EXPOSURE AT DEFAULT, OR AROUND NOK 3 BILLION‍​

* DNB’S AMBITION IS TO HAVE A COST/INCOME RATIO BELOW 40 PER CENT TOWARDS 2019

* VOLUME-WEIGHTED SPREADS ARE EXPECTED TO BE STABLE, WHILE THE ANNUAL INCREASE IN LENDING VOLUMES IS ANTICIPATED TO BE 3 TO 4 PER CENT IN 2018 AND 2019

* DURING THIS PERIOD, HIGHER GROWTH IN LENDING VOLUMES IS EXPECTED FOR PERSONAL CUSTOMERS AND SMALL AND MEDIUM-SIZED ENTERPRISES, WHILE THE GROUP WILL CONTINUE TO ACTIVELY REDUCE ITS LENDING VOLUMES TO LARGE CORPORATES AND INTERNATIONAL CUSTOMERS IN CYCLICAL INDUSTRIES

* THE IMPLEMENTATION EFFECT OF IFRS 9 IS ESTIMATED AT NOK 3 BILLION AND IS EXPECTED TO REDUCE THE COMMON EQUITY TIER 1 CAPITAL RATIO BY APPROXIMATELY 25 BASIS POINTS Source text for Eikon: Further company coverage: (Reporting By Terje Solsvik)

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