January 24, 2017 4:39 AM ET

Banks

Company Overview of DNB Bank ASA

Company Overview

DNB Bank ASA provides banking services, and securities and investment services to retail and corporate customers in Norwegian and internationally. It offers savings and investment products; loans, such as home mortgages, car loans, and consumer loans; and investment loans, overdraft facilities, bank guarantees, leasing, factoring, and export financing services. The company also provides car, boat, motor vehicle, household contents, home, holiday home, travel, life, and other types of insurance products; and advisory services related to mergers and acquisitions, and equity and debt capital markets. In addition, it offers pension products, foreign exchange services, interest rates, commodities...

Dronning Eufemias gate 30

Bjørvika

Oslo,  0191

Norway

Founded in 1822

10,230 Employees

Key Executives for DNB Bank ASA

Group Chief Executive Officer and Director
Age: 56
President
Age: 70
Chief Financial Officer and Group Executive Vice President
Age: 62
Group Executive Vice President of IT & Operations
Age: 51
Group Executive Vice President of Markets
Age: 51
Compensation as of Fiscal Year 2016.

DNB Bank ASA Key Developments

DNB Bank ASA Presents at 9th Annual Conference Biotech Showcase, Jan-09-2017

DNB Bank ASA Presents at 9th Annual Conference Biotech Showcase, Jan-09-2017 . Venue: HILTON SAN FRANCISCO UNION SQUARE, 333 O'Farrell Street, San Francisco, CA 94102, United States.

Nordea and DNB Banka Announce Combined Bank Appointments

Nils Melngailis has been appointed the council chairman of to be merged Nordea and DNB Banka. Melngailis is working in London at present. Before moving to London, Melngailis worked for two years as president and chairman on the transformation of Parex Bank into Citadele Bank and Reverta in Latvia and four years as the CEO and chairman of the telecom operator Lattelecom. Erkki Raasuke has been appointed the CEO of the combined bank. Raasuke is currently Managing Director of the LHV Group in Estonia. Melngailis is currently Operating Executive at Centerbridge Partners in London. Raasuke has extensive retail banking experience from his 18 year tenure at Swedbank and Hansabank, most recently as Swedbank’s Group CFO and Member of the Group Executive Committee. Raasuke has been appointed as an independent CEO with regards to Nordea and DNB. Raasuke will assume the position of CEO of the holding company of the proposed new bank by January 2017 at the latest. Melngailis is proposed as Chairman of the holding company of the proposed combined bank and will be operating as a working chairman. Up until closing of the proposed combined bank, Raasuke and Melngailis will assume their respective roles and lead the planned transformation process into the future combined bank. Upon closing, Raasuke and Melngailis will take up their positions as CEO and Chairman of the proposed combined bank.

Dnb Bank Asa Reports Unaudited Group and Parent Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Reports Impairment of Loans and Guarantees for the Third Quarter Ended September 30, 2016; Provides Impairment Loss Guidance for the Year 2016

DNB Bank ASA reported unaudited group and parent earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, on group basis, the company reported net interest income of NOK 8,594 million compared to NOK 9,018 million reported a year ago. Total interest income was NOK 13,107 million compared to NOK 14,408 million reported a year ago. Pre-tax operating profit was NOK 4,881 million compared to NOK 8,162 million reported a year ago. Portion attributable to shareholders of the bank was NOK 3,680 million against NOK 5,859 million a year ago. Return on equity, annualized was 8.7% against 15.2% a year ago. Total income was NOK 11,882 million against NOK 12,910 million a year ago. Pre-tax operating profit before impairment was NOK 7,038 million against NOK 7,773 million a year ago. For the nine months, on group basis, the company reported net interest income of NOK 26,020 million compared to NOK 26,385 million reported a year ago. Total interest income was NOK 39,478 million compared to NOK 43,755 million reported a year ago. Pre-tax operating profit was NOK 16,601 million compared to NOK 22,782 million reported a year ago. Portion attributable to shareholders of the bank was NOK 12,569 million against NOK 16,551 million a year ago. Net cash flow from operating activities was NOK 159,696 million compared to NOK 98,894 million reported a year ago. Net payments on the acquisition of fixed assets were NOK 934 million compared to NOK 1,202 million reported a year ago. Return on equity, annualized was 10.1% against 14.9% a year ago. Total income was NOK 37,788 million against NOK 39,304 million a year ago. Pre-tax operating profit before impairment was NOK 22,279 million against NOK 23,578 million a year ago. For the quarter, on parent basis the company reported net interest income of NOK 5,907 million compared to NOK 6,104 million reported a year ago. Total interest income was NOK 8,671 million compared to NOK 9,482 million reported a year ago. Pre-tax operating profit was NOK 4,470 million compared to NOK 4,909 million reported a year ago. Portion attributable to shareholders of the bank was NOK 3,332 million against NOK 3,468 million a year ago. Total income was NOK 10,060 million against NOK 8,483 million a year ago. Pre-tax operating profit before impairment was NOK 5,980 million against NOK 4,192 million a year ago. For the nine months, on parent basis the company reported net interest income of NOK 17,725 million compared to NOK 18,009 million reported a year ago. Total interest income was NOK 25,991 million compared to NOK 29,146 million reported a year ago. Pre-tax operating profit was NOK 13,414 million compared to NOK 13,768 million reported a year ago. Portion attributable to shareholders of the bank was NOK 10,025 million against NOK 9,923 million a year ago. Net cash flow from operating activities was NOK 171,520 million compared to NOK 141,944 million reported a year ago. Net payments on the acquisition of fixed assets were NOK 941 million compared to NOK 1,247 million reported a year ago. Total income was NOK 30,041 million against NOK 27,380 million a year ago. Pre-tax operating profit before impairment was NOK 17,042 million against NOK 14,152 million a year ago. For the third quarter, on parent company basis, the reported impairment of loans and guarantees of NOK 1,517 million, and on consolidated basis, the company’s impairment of loans and guarantees of NOK 2,176 million. In 2016, the company expects its impairment losses will exceed NOK 6 billion.

Similar Private Companies By Industry

Company Name Region
Andebu Sparebank Europe
Arendal og Omegns Sparekasse Europe
Askim & Spydeberg Sparebank Europe
Aurland Sparebank Europe
Bamble Sparebank Europe

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 17, 2016
Relacom Management AB
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Bloomberg L.P. United States
The Advertising Council, Inc. United States
Rush University United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact DNB Bank ASA, please visit www.dnb.no. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.