April 30, 2020 / 5:40 AM / a month ago

Norway's DNB misses Q1 forecast on mounting loss provisions

OSLO, April 30 (Reuters) - Norway’s DNB reported a surprise drop in first-quarter profits on Thursday as the bank set aside reserves to meet future loan defaults amid the COVID-19 pandemic and a plunge in oil prices that hurt many clients.

Net profit fell to 4.0 billion Norwegian crowns ($389 million) for the January-March period from 7.6 billion crowns a year earlier, lagging the average forecast of 7.74 billion crowns in a Refinitiv poll of analysts. ($1 = 10.2891 Norwegian crowns) (Reporting by Terje Solsvik, editing by Gwladys Fouche)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below