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DNB ASA (DNB.OL)

DNB.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

DNB ASA announces buyback of 225,000 shares at Nok 150.12 per share​
Tuesday, 5 Dec 2017 

Dec 5 (Reuters) - DNB ASA ::SAYS ‍DNB ASA HAS ON 5 DECEMBER 2017 PURCHASED 225,000 OWN SHARES AT AN AVERAGE PRICE OF NOK 150.1202 PER SHARE​.  Full Article

DNB says no fear of loan losses from Norway's housing market
Tuesday, 21 Nov 2017 

Nov 21 (Reuters) - DNB ASA Chief Executive Rune Bjerke::Says DNB has no fear of loan losses from Norway's housing market.  Full Article

Norwegian banks to combine payment units Vipps, BankAxept, BankID -Eika
Friday, 17 Nov 2017 

Nov 17 (Reuters) - Banking group Eika said in a statement on Friday::Norwegian banks agree to combine payment units Vipps, BankAxept and BankID Norge to improve product offering and prepare for competition against global tech firms.A news conference will be held at 0900 GMT (1000 CET).  Full Article

DNB ASA says ‍purchased 910,000 own shares at an average price of NOK 159.06 per share​
Friday, 10 Nov 2017 

Nov 10 (Reuters) - DNB ASA -:‍Purchased 910,000 own shares at an average price of NOK 159.06 per share​.  Full Article

DNB Q3 pretax result before losses in line with forecast, keeps 2017-2019 guidance
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - Dnb Asa :q3 pretax profit before impairments nok ‍7.4​ billion (reuters poll nok 7.39 billion).q3 net profit nok ‍5,648​ million (reuters poll nok 4.67 billion).following the establishment of vipps as as a separate company, dnb recorded a gain which gave a nok 754 million rise in profits in the third quarter of 2017.Maintains 2017-2019 financial guidance.‍return on equity was 11.2 per cent (8.5)​.‍cost/income ratio was 42.7 per cent (40.6)​.‍common equity tier 1 capital ratio (transitional rules) was 16.3 per cent (15.7)​.lending volumes are expected to increase by around 2 per cent in 2017‍​.aims to increase commission and fee income by approximately 3 per cent per year.q3 net interest income nok 9.01‍​ billion (reuters poll nok 9.05 billion).q3 loan losses nok 867‍​ million (reuters poll loss nok 1.07 billion).q3 pretax operating profit nok 7.29‍​ billion (reuters poll nok 6.31 billion).the group aspires to have a dividend payout ratio of more than 50 per cent from 2017 and to increase the nominal dividend per share each year.‍dnb's profit performance has improved in all customer segments, ranging from private individuals to largest companies​.Dnb asa: dnb may decide to initiate further buy-backs, up to the approved limit of 1.5 per cent, and will use buy-backs as a tool to pay out excess capital.Dnb asa: the tax rate is expected to be 23 per cent in the period from 2017 to 2019.  Full Article

Banks Nordea, DNB complete merger of their Baltic operations
Sunday, 1 Oct 2017 

Oct 1 (Reuters) - NORDEA AND DNB SAY::HAVE COMPLETED THE COMBINATION OF THEIR BALTIC OPERATIONS.AFTER RECEIVING ALL APPROVALS FROM RESPECTIVE REGULATORY BODIES, TRANSACTION CLOSED TODAY..THE RESULT OF MERGER, LUMINOR, WILL BE THIRD LARGEST FINANCIAL SERVICES PROVIDER IN BALTIC BANKING MARKET WITH A MARKET SHARE OF 16 PER CENT IN DEPOSITS AND 23 PERCENT IN LENDING..LUMINOR WILL COMPRISE NORDEA'S APPROXIMATELY 350,000 AND DNB'S 930,000 CUSTOMERS ACROSS THREE MARKETS. OPERATIONS WILL HAVE APPROXIMATELY 3,000 EMPLOYEES AND APPROXIMATELY EUR 15BN IN ASSETS..TOTAL GROSS LENDING OF LUMINOR PORTFOLIO WILL AMOUNT TO APPROXIMATELY EUR 12BN INCLUDING BOTH CONSUMER AND CORPORATE LENDING AND DEPOSITS WILL TOTAL EUR 9BN.LUMINOR WILL HAVE A COMMON EQUITY TIER 1 CAPITAL RATIO OF 17 PER CENT AND A COMMON EQUITY TIER 1 CAPITAL OF EUR 1.6BN..NORDEA WILL HOLD 56 PER CENT OF ECONOMIC RIGHTS AND 50 PER CENT OF VOTING RIGHTS OF NEW COMPANY. IN NORDEA'S RESULTS, LUMINOR WILL BE ACCOUNTED FOR USING EQUITY METHOD FROM Q4 2017..  Full Article

Marine Harvest signs EUR 1,206 mln credit facility
Friday, 9 Jun 2017 

June 9 (Reuters) - Marine Harvest Asa ::Has signed the senior secured five-year EUR 1,206 million.multicurrency revolving credit facility with DNB,.Nordea, ABN Amro, Rabobank, Danske Bank and SEB..The Facility Agreement includes an accordion increase option, which provides flexibility for the parties to.agree an increased size of the Facility Agreement by an additional EUR 200 million during the five-year term.The principal financial covenant of the Facility Agreement is an equity ratio of minimum 35% and remains unchanged to.the existing bank loan..  Full Article

Olympic Shipping says investors willing to put up $62 mln in refinancing
Friday, 14 Oct 2016 

: Norwegian supply vessel shipping firm Olympic Shipping said a consortium of investors is willing to invest about 500 million Norwegian crowns ($61.79 million) in a refinancing of the company, out of which approximately 400 million is new liquidity . The investment is contingent on a restructuring of the group, which must be agreed with lenders . The current shareholders will be invited to participate in the share issue on equal terms . Companies controlled by the main shareholder of the company, Stig Remoey, are among the investors in the consortium, while the remaining parties in the consortium are investors with direct or indirect connection to the maritime cluster in Norway's Sunnmoere region . The shipping firm has a fleet of 23 oil services vessels . Interest-bearing debt related to the long-term financing of the fleet amounts to 4.9 billion Norwegian crowns at the end of second quarter . In addition, Olympic Ship As has net bond obligations amounting to 690 million crowns . Short-term debt, excluding current liability of long-term debt and bonds, amounted to 237 million crowns . Norway's oil services industry is undergoing a comprehensive financial restructuring after big cuts in spending among oil companies since late 2014.  Full Article

Norway's DNB appoints Kjerstin Braathen new CFO
Monday, 26 Sep 2016 

Dnb Asa : Kjerstin Braathen has been appointed new chief financial officer (CFO) in DNB with effect as of 1 March 2017 . Up till now, Braathen has been group executive vice president and head of Corporate Banking Norway . Current CFO Bjoern Erik Naess will retire on same date. He was entitled to retire when reaching the age of 62 in August 2016, but the agreement was extended to 1 March 2017 . Benedicte Schilbred Fasmer will become new group executive president and head of corporate banking Norway with immediate effect .Rune Garborg will become new group executive president in charge of Vipps and payments with immediate effect. This is a new position in the group management team.  Full Article

Norwegian bank DNB sees years of oil industry restructurings
Tuesday, 30 Aug 2016 

Top Norwegian bank DNB's Executive Vice President of Large Corporates and International Harald Serck-Hanssen told Reuters: Some drilling rig and offshore service vessel (OSV) firms may need two phases of debt restructuring . Initial rig and service vessel industry restructuring phase may only see firms through to late 2018/early 2019 . May see some rig, service vessel bankruptcies in 2016; and 2017 will be another tough year . Says offshore service vessel industry will likely see more deals like the Aker-Solstad tie-up . Most oil companies have a break-even much below today’s oil price so we are not concerned about that . Oil service firms outside OSV and rig segments are in better shape than we would have expected Further company coverage: [DNB.OL] (Reporting by Stine Jacobsen in Stavanger, editing by Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

MOVES-Norway's DNB adds 2 positions to group management

OSLO, Dec 11 Norwegian bank DNB announced the following changes to its corporate management on Monday:​