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BRIEF-DNB Q3 pretax result before losses in line with forecast, keeps 2017-2019 guidance
October 26, 2017 / 5:46 AM / in a month

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

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

* Dnb asa: 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 Source text for Eikon: Further company coverage: (Reporting By Terje Solsvik)

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