September 24, 2019 / 7:20 AM / 24 days ago

Norway's DNB warns of $111 million loan loss provision

FILE PHOTO: A woman walks past DNB bank's local office in Riga November 20, 2013. REUTERS/Ints Kalnins

OSLO (Reuters) - Norwegian bank DNB (DNB.OL) will book at loan loss provision of about 1 billion Norwegian crowns ($110.6 million) in the third quarter related to one of its customers, it said on Tuesday.

The loss stems from “recent events and current circumstances related to one specific loan engagement”, DNB said, although it did not name the client.

(This story adds missing word ‘million’ in headline).

Reporting by Terje Solsvik, editing by Nerijus Adomaitis

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