August 26, 2014 / 10:32 AM / 3 years ago

Norway's DNB expects relatively low loan losses -CEO

STAVANGER, Norway, Aug 26 (Reuters) - Lending losses at Norway’s top bank DNB will remain subdued in the time to come, the company’s chief executive told Reuters on Tuesday.

“We expect relatively low loan losses going forward. There’s solid equity in Norwegian companies, and they are well positioned to handle any ongoing changes that are taking place,” CEO Rune Bjerke said on the sidelines of an energy conference.

Despite investment cutbacks in the oil industry, DNB still sees growth in demand for loans, he added.

“We still have growth in this sector, but that’s because we’re a global player. Altogether we see increased demand for financing from oil firms. But we believe that Norwegian (oil industry) demand will drop in 2015 compared to 2014.” (Reporting by Joachim Dagenborg, editing by Terje Solsvik)

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