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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 says may revise outlook for loan losses at November CMD
Wednesday, 12 Jul 2017 04:16am EDT 

July 12 (Reuters) - Dnb :CFO Kjerstin Braathen: loan losses will continue to fluctuate going forward.CFO: not happy with cost development in the quarter, will need to work on that.CEO Rune Bjerke says on loan losses outlook, it is an estimate, not a target, we may come back with more specifics at capital markets day.CEO says on loan losses outlook, there is no assumption that more will come; the "up to" nok 18 billion outlook stays in place until capital markets day (CMD).DNB is due to hold its CMD in Nov. 21.  Full Article

DNB chief executive sees brighter outlook in lending losses
Wednesday, 12 Jul 2017 03:50am EDT 

July 12 (Reuters) - DNB Chief Executive Rune Bjerke told the company's Q2 earnings presentation on Wednesday::In the Norwegian housing market, we will probably see a more flatish picture ahead, recent decline in prices is a normal development.For loan losses, the picture is looking a little bit brighter ahead than it did 1, 2 quarters ago.We will continue to reduce our exposure to cyclical industries, such as shipping, going forward.  Full Article

Norway's DNB beats Q2 profit forecast as loan losses shrink
Wednesday, 12 Jul 2017 01:44am EDT 

July 12 (Reuters) - Dnb Asa DNB.OL:Q2 net profit nok 5,237 million (reuters poll nok 4.46 billion).Q2 pretax profit before impairments nok 7.4 billion (reuters poll nok 7.32 billion).Common equity tier 1 capital ratio (transitional rules) was 15.8 per cent (15.2).Q2 loan losses nok 597 million (reuters poll loss nok 1.31 billion), a significant reduction from NOK 2,321 million in the second quarter of 2016.Says not worried that we will record losses on home mortgages.Positive that housing market is levelling off after several years of unsustainable price increases.The main factor behind the decrease in loan losses was successful restructuring of portfolios within oil, offshore and shipping.Majority of non-performing loans still stem from oil, offshore and shipping, and bank thus far sees no signs of spill-over effects to other industries.Dnb asa: volume-weighted spreads are anticipated to widen somewhat in 2017, while lending volumes are expected to be stable in 2017 and 2018.Dnb q2 net interest income nok 9.03 billion (reuters poll nok 8.71 billion).Dnb q2 pretax operating profit nok 6.82 billion (reuters poll nok 6.01 billion).Dnb asa: repeats total impairment losses for the period 2016 to 2018 are estimated to be up to nok 18 billion, with the highest impairment losses during the first part of the period.Aspires to have a dividend payout ratio of more than 50 per cent from 2017 and to increase the dividend per share each year.  Full Article

DNB gets FSA approval for buyback of shares
Wednesday, 14 Jun 2017 02:35am EDT 

June 14 (Reuters) - DNB ::Says The Norwegian Financial Supervisory Authority (FSA) has approved buyback of shares.Reference is made to the annual general meeting of DNB ASA held on 25 April 2017, where the Board of Directors was authorised to repurchase up to 2.0 per cent of the shares of the company, of which 0.5 per cent can only be used for hedging purposes in DNB Markets.DNB said in February the company expected to implement share buybacks in Q2 depending on FSA approval nO9N1CA00Z.Further company coverage: DNB.OL.  Full Article

DNB CEO says more confident about losses from oil service industry
Tuesday, 13 Jun 2017 06:44am EDT 

June 13 (Reuters) - DNB ASA ::Norway bank DNB's CEO Rune Bjerke says there is no doubt Norwegian economy has strengthened compared to 6 months ago.DNB ceo says bank reiterates guidance on lending growth despite recent tightening by regulators.DNB ceo says more confident about losses from oil service industry, still expects challenging times in this industry in 2017 and 2018.  Full Article

DNB Q1 net profit beats forecast as lending losses shrink
Friday, 28 Apr 2017 01:30am EDT 

April 28 (Reuters) - Dnb Asa :Q1 net profit nok 4,544 million (reuters poll nok 4.36 billion).Q1 pretax profit before impairments nok 6.5 billion (reuters poll nok 7.36 billion).Q1 loan losses nok 562 million (reuters poll loss nok 1.51 billion).Common equity tier 1 capital ratio (transitional rules) was 15.8 per cent (15.2).Total impairment losses for the period 2016 to 2018 are estimated to be up to nok 18 billion, with the highest impairment losses during the first part of the period.Aims to increase commission and fee income by approximately 3 per cent per year..Aspires to have a dividend payout ratio of more than 50 per cent from 2017. A share buy-back programme has been approved by the annual general meeting and will comprise up to 1.5 per cent of outstanding shares.Principal target is to achieve a return on equity above 12 per cent towards 2019.Q1 net interest income nok 8.52 billion (reuters poll nok 8.5 billion).Says 2017-2019 financial ambitions unchanged.  Full Article

Norway insurers could make more non-insurance investment -ministry
Wednesday, 5 Apr 2017 06:06am EDT 

Norway's Finance Ministry said on Wednesday: Insurance companies should be allowed to hold stakes bigger than 15 percent in other companies . Says liberalising insurer rules would allow investment of pension funds in infrastructure such as in transportation and energy . Says financial regulator (FSA) will be asked to draft a plan to change the rules currently preventing insurers from owning more than 15 percent of non-insurance companies . Draft from FSA should be presented by June 1 and will be sent on a round of hearings to relevant institutions .Says new capital requirements that have been introduced in recent years made the old restrictions less relevant.  Full Article

Norway's DNB to cut 100 jobs in corporate banking unit
Wednesday, 8 Mar 2017 07:30am EST 

Dnb Asa : Says to cut equivalent of 100 full-time jobs in its corporate banking unit . Says cuts are in response to customers' increasing use of digital solutions . Says some of the employees will be offered to work in a different unit . More than 1,200 jobs remain in the corporate banking unit following the cuts . Says earlier this week, equivalent of 17 full-time jobs were cut in retail banking Further company coverage: [DNB.OL] ((terje.solsvik@thomsonreuters.com;)).  Full Article

DNB Q4 net profit beats forecast, plans share buyback, rising dividends
Thursday, 2 Feb 2017 01:41am EST 

Dnb Asa : Capital build-up completed one year ahead of schedule . q4 net profit nok 5.4 billion (reuters poll nok 4.22 billion) . proposes 2016 dividend of nok 5.70 per share (Reuters poll nok 5.32 per share) . long-term target is to distribute more than 50 per cent of profits as dividends to its shareholders. Group is planning a share buy-back programme to be implemented in course of 2017 . The Group aspires to have a cost/income ratio below 40 per cent towards 2018 and a dividend payout ratio of more than 50 per cent from 2017 . q4 pretax profit before impairments nok 7.4 billion (reuters poll nok 7.54 billion) . As we have now reached our capital target, our most important financial tasks in period ahead will be to increase our return on equity and provide a robust dividend payout ratio . q4 loan losses nok 1.75 billion (reuters poll loss nok 1.98 billion) . says the principal target is still to achieve a return on equity above 12 per cent towards 2019 . volume-weighted spreads are anticipated to widen somewhat in 2017, while lending volumes are expected to be stable in 2017 and 2018 . says total impairment losses for the period 2016 to 2018 are estimated to be up to nok 18 billion, with the highest impairment losses during the first part of the period.  Full Article

DNB can handle raised buffer, declines dividend comment -spokesman
Thursday, 15 Dec 2016 05:25am EST 

DNB ASA : Norway's largest bank DNB will have no problem adjusting to raised capital buffer requirement, spokesman Even Westerveld said . He declined to comment on any potential impact the raised buffer could have on the bank's dividend . Earlier on Thursday Norway's finance ministry said it will increase its countercyclical capital buffer requirement for banks to 2.0 percent from end-2017 compared with 1.5 percent currently, giving banks 12 months to build the additional capital they need [nL5N1E96WR] Further company coverage: [DNB.OL] (Reporting By Ole Petter Skonnord, editing by Terje Solsvik) ((olepetter.skonnord@thomsonreuters.com;)).  Full Article