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Dnb ASA (DNB.OL)

DNB.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Six Nordic Banks Establish Joint KYC Company
Friday, 5 Jul 2019 

July 5 (Reuters) - Handelsbanken ::SIX NORDIC FORM A JOINT KYC COMPANY.DANSKE BANK A/S, DNB BANK ASA, NORDEA BANK ABP, SKANDINAVISKA ENSKILDA BANKEN AB (PUBL), SVENSKA HANDELSBANKEN AB (PUBL) AND SWEDBANK AB (PUBL) ARE MOVING FORWARD AND HAVE ESTABLISHED A JOINT VENTURE COMPANY.COMPANY IS AUTONOMOUS AND WILL INITIALLY OFFER KYC SERVICES TO MARKET CONCERNING LARGE AND MEDIUM-SIZED COMPANIES BASED IN NORDIC REGION.BANKS' TOP PRIORITY IN COLLABORATING HAS BEEN TO DEVELOP A NORDIC PLATFORM WITH STANDARDISED PROCESSES FOR HANDLING KYC DATA.SIX BANKS WILL INVEST AN EQUAL SHARE IN COMPANY.JOINT VENTURE COMPANY IS PREPARING FOR ITS FIRST COMMERCIAL LAUNCH IN 2020.  Full Article

DNB: Basis Swap And AT1 Impact In Q2
Monday, 1 Jul 2019 

July 1 (Reuters) - Dnb ASA ::DNB GROUP: BASIS SWAP AND AT1 IMPACT IN Q2 2019.IN Q2 OF 2019, DNB GROUP WILL RECOGNISE A POSITIVE EFFECT OF NOK 740 MILLION FROM BASIS SWAPS CONNECTED TO FUNDING.NEGATIVE EFFECT OF NOK 125 MILLION FROM ADDITIONAL TIER 1 CAPITAL WILL ALSO BE RECOGNISED.  Full Article

Oslo Bors VPS says Nasdaq may merge its power market with Oslo Bors
Wednesday, 30 Jan 2019 

Jan 30 (Reuters) - OSLO BORS VPS HOLDING ASA CEO BENTE LANDSNES TOLD A NEWS CONFERENCE::NASDAQ IS CONSIDERING WHETHER TO MERGE NASDAQ COMMODITIES POWER MARKET WITH OSLO BORS.  Full Article

Oslo Bors VPS Q4 EBIT rises to NOK 100.6 mln
Thursday, 17 Jan 2019 

Jan 17 (Reuters) - Oslo Bors VPS Holding ASA ::OSLO BORS VPS REPORTS Q4 OPERATING PROFIT NOK 100.6 MILLION ($11.75 MILLION) (VERSUS YEAR-AGO NOK 98.5 MILLION).  Full Article

DNB says life insurance changes have positive earnings impact
Wednesday, 16 Jan 2019 

Jan 16 (Reuters) - DNB ASA ::SAYS "WE WOULD LIKE TO CLARIFY THAT DNB LIVSFORSIKRING ACCOUNTING EFFECTS WILL HAVE A POSITIVE IMPACT ON DNB ASA'S Q4 RESULTS FOR 2018 OF ABOUT NOK 4 BILLION, WHICH IS RECORDED AS INCOME UNDER TAX EXPENSES".SAYS "THIS MEANS THAT COMPANY WILL HAVE A TAX INCOME OF ABOUT NOK 4 BILLION FOR 2018, NOT TAXABLE INCOME AS PREVIOUSLY STATED".  Full Article

DNB says new tax rules will have an impact on Q4 profits of about NOK 4 bln
Tuesday, 15 Jan 2019 

Jan 15 (Reuters) - DNB ASA ::BASED ON OUR EVALUATION AND UNDERSTANDING OF NEW TAX RULES WITH APPURTENANT TRANSITIONAL RULES, TRANSITION WILL RESULT IN A TAX LOSS FOR DNB LIVSFORSIKRING.THIS MEANS THAT COMPANY WILL HAVE A TAXABLE INCOME OF ABOUT NOK 4 BILLION FOR 2018.ACCOUNTING EFFECTS FOR DNB ASA WILL BE AN IMPACT ON PROFITS IN Q4 OF ABOUT NOK 4 BILLION, WHICH IS RECORDED AS INCOME UNDER TAX EXPENSES.THIS WILL NOT HAVE ANY EFFECT ON CAPITAL FOR DNB GROUP BEFORE AMOUNT OR PART THEREOF IS DISTRIBUTED AS DIVIDENDS TO DNB ASA.DISTRIBUTION OF DIVIDENDS WILL BE ASSESSED AT YEAR-END CLOSING OF ACCOUNTS IN DNB LIVSFORSIKRING AS AND WILL BE DECIDED AT GENERAL MEETING OF DNB LIVSFORSIKRING AS IN APRIL 2019.  Full Article

Norway FSA OKs merger of non-life insurance arms of DNB, Sparebank 1
Friday, 21 Dec 2018 

Dec 21 (Reuters) - Sparebank 1 says::PLANNED MERGER BETWEEN TWO NON-LIFE INSURANCE COMPANIES SPAREBANK 1 SKADEFORSIKRING AS AND DNB FORSIKRING AS HAS NOW BEEN APPROVED BY FINANSTILSYNET.MERGER WILL COME INTO FORCE WITH EFFECT FROM 1 JANUARY 2019..NAME OF MERGED COMPANY WILL BE FREMTIND FORSIKRING AS..  Full Article

Bank DNB Q3 net profit lags
Thursday, 25 Oct 2018 

Oct 25 (Reuters) - DNB ASA ::DNB Q3 NET PROFIT NOK 5,673 MILLION (REUTERS POLL NOK 5.9 BILLION).DUE TO SIGNIFICANT REVERSALS OF PREVIOUS LOAN LOSS PROVISIONS IN OIL AND GAS SECTOR AMOUNTING TO NOK 500 MILLION, LOSSES FOR Q3 ENDED AT A MODEST NOK 11 MILLION.DUE TO SIGNIFICANT REVERSALS OF PREVIOUS LOAN LOSS PROVISIONS IN OIL AND GAS SECTOR AMOUNTING TO NOK 500 MILLION, LOSSES FOR Q3 ENDED AT A MODEST NOK 11 MILLION.DNB Q3 NET INTEREST INCOME NOK 9.15 BILLION (REUTERS POLL NOK 9.2 BILLION).AFTER THREE QUARTERS, DNB'S RETURN ON EQUITY FOR 2018 IS 11.2 PER CENT, COMPARED WITH 10.2 PER CENT IN SAME PERIOD LAST YEAR.THE INCREASE IN NORGES BANK’S KEY POLICY RATE FROM 0.5 PER CENT TO 0.75 PER CENT, FOLLOWED BY DNB’S ANNOUNCEMENT OF AN INCREASE IN LOAN RATES EFFECTIVE FROM 23 OCTOBER AND 4 NOVEMBER, WILL HAVE A POSITIVE EFFECT ON NET INTEREST INCOME IN THE FOURTH QUARTER.THE INCREASE IN NORGES BANK’S KEY POLICY RATE FROM 0.5 PER CENT TO 0.75 PER CENT WILL HAVE A POSITIVE EFFECT ON NET INTEREST INCOME IN THE FOURTH QUARTER.THE ANNUAL INCREASE IN LENDING VOLUMES IS ANTICIPATED TO BE 3 TO 4 PER CENT IN 2018.DNB Q3 PRETAX PROFIT BEFORE IMPAIRMENTS NOK 7.16 BILLION (REUTERS POLL NOK 7.7 BILLION).THE ANNUAL INCREASE IN LENDING VOLUMES IS ANTICIPATED TO BE 3 TO 4 PER CENT IN 2018, UNCHANGE VIEW.SAYS THE GROUP HAS SET A TARGET FOR ITS COMMON EQUITY TIER 1 CAPITAL RATIO (CET 1) OF ABOUT 16.3 PER CENT FROM YEAR-END 2018.  Full Article

BRIEF-DNB and Sparebank 1 Gruppen to merge insurance units
Monday, 24 Sep 2018 

Repeats without change to additional readers:DNB AND SPAREBANK 1 GRUPPEN ENTER INTO INSURANCE MERGER.ESTABLISHING ONE OF NORWAY'S LARGEST INSURANCE COMPANIES.NEW INSURANCE COMPANY WILL RESULT FROM MERGER OF DNB FORSIKRING AS AND SPAREBANK 1 SKADEFORSIKRING AS.DNB WILL HAVE A HOLDING OF 35 PER CENT AND SPAREBANK 1 GRUPPEN AS ONE OF 65 PER CENT IN NEW COMPANY.IN ADDITION, DNB HAS SECURED AN OPTION TO INCREASE THEIR HOLDING TO 40 PER CENT.MERGER AGREEMENT ASSUMES AN EXCHANGE RATIO OF APPROXIMATELY 80 PER CENT FOR SPAREBANK 1 GRUPPEN AND APPROXIMATELY 20 PER CENT FOR DNB.EXCHANGE RATIO IS BASED ON A NEGOTIATED MARKET VALUE OF TWO NON-LIFE INSURANCE COMPANIES, INCLUDING VALUE OF TRANSFERRED PERSONAL RISK PRODUCTS.IN TRANSACTION, NEW NON-LIFE INSURANCE COMPANY IS VALUED AT NOK 19.75 BILLION.AN EQUIVALENT VALUE IS ASSUMED WHEN DNB IS TO INCREASE ITS HOLDING FROM 20 TO 35 PER CENT.PURCHASE PRICE FOR 15 PER CENT OF SHARES WILL THUS BE NOK 2.96 BILLION.TOTAL VOLUME OF PREMIUMS ON PERSONAL RISK PRODUCTS IS APPROXIMATELY NOK 3 BILLION, GENERATING A PROFIT OF ABOUT NOK 0.5 BILLION AFTER TAX.PRO-FORMA PROFIT AFTER TAX FOR NEW COMPANY FOR 2017 WAS APPROXIMATELY NOK 1.8 BILLION, OUT OF WHICH DNB'S OPERATIONS AMOUNTED TO NOK 300 MILLION.RECORDED GAIN OF AROUND NOK 3 BILLION IN GROUP ACCOUNTS, AND A REDUCTION OF COMMON EQUITY TIER 1 CAPITAL RATIO (CET 1) FOR GROUP OF ABOUT 30 BASIS POINTS.TENTATIVE MERGER DATE IS 1 JANUARY 2019, SUBJECT TO APPROVAL OF AUTHORITIES.  Full Article

DNB and Sparebank 1 Gruppen to merge insurance units
Monday, 24 Sep 2018 

Sept 24 (Reuters) - Dnb Asa ::DNB AND SPAREBANK 1 GRUPPEN ENTER INTO INSURANCE MERGER.ESTABLISHING ONE OF NORWAY'S LARGEST INSURANCE COMPANIES.NEW INSURANCE COMPANY WILL RESULT FROM MERGER OF DNB FORSIKRING AS AND SPAREBANK 1 SKADEFORSIKRING AS.DNB WILL HAVE A HOLDING OF 35 PER CENT AND SPAREBANK 1 GRUPPEN AS ONE OF 65 PER CENT IN NEW COMPANY.IN ADDITION, DNB HAS SECURED AN OPTION TO INCREASE THEIR HOLDING TO 40 PER CENT.MERGER AGREEMENT ASSUMES AN EXCHANGE RATIO OF APPROXIMATELY 80 PER CENT FOR SPAREBANK 1 GRUPPEN AND APPROXIMATELY 20 PER CENT FOR DNB.EXCHANGE RATIO IS BASED ON A NEGOTIATED MARKET VALUE OF TWO NON-LIFE INSURANCE COMPANIES, INCLUDING VALUE OF TRANSFERRED PERSONAL RISK PRODUCTS.IN TRANSACTION, NEW NON-LIFE INSURANCE COMPANY IS VALUED AT NOK 19.75 BILLION.AN EQUIVALENT VALUE IS ASSUMED WHEN DNB IS TO INCREASE ITS HOLDING FROM 20 TO 35 PER CENT.PURCHASE PRICE FOR 15 PER CENT OF SHARES WILL THUS BE NOK 2.96 BILLION.TOTAL VOLUME OF PREMIUMS ON PERSONAL RISK PRODUCTS IS APPROXIMATELY NOK 3 BILLION, GENERATING A PROFIT OF ABOUT NOK 0.5 BILLION AFTER TAX.PRO-FORMA PROFIT AFTER TAX FOR NEW COMPANY FOR 2017 WAS APPROXIMATELY NOK 1.8 BILLION, OUT OF WHICH DNB'S OPERATIONS AMOUNTED TO NOK 300 MILLION.RECORDED GAIN OF AROUND NOK 3 BILLION IN GROUP ACCOUNTS, AND A REDUCTION OF COMMON EQUITY TIER 1 CAPITAL RATIO (CET 1) FOR GROUP OF ABOUT 30 BASIS POINTS.TENTATIVE MERGER DATE IS 1 JANUARY 2019, SUBJECT TO APPROVAL OF AUTHORITIES.  Full Article

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Norway's DNB bank sees growth in all areas as quarterly income in line

OSLO Norway's DNB said it had seen growth in all business areas as the Nordic region's biggest bank by market value reported second-quarter results in line with expectations on Thursday.