Norway's DNB Q1 profits well above forecasts

OSLO Thu May 8, 2014 1:39am EDT

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OSLO May 8 (Reuters) - DNB, Norway's largest bank, reported first-quarter earnings above expectations on Thursday as loan losses virtually evaporated, with the firm saying loan losses would be below normal this year.

The bank posted a pretax operating profit of 7.30 billion Norwegian crowns ($1.23 billion), beating the 6.38 billion crowns seen in a Reuters poll of analysts and up from 4.32 billion crowns at the same time a year ago. (Reporting by Balazs Koranyi, editing by Gwladys Fouche)