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Wealth-Management Price War Spikes in Nordics as Fees Take a Hit

  • DNB says will evaluate acquisition if right candidate appears
  • DNB has been cutting fees to regain market share for funds
DNB ASA headquarters, center, in Oslo.

DNB ASA headquarters, center, in Oslo.

Photographer: Odin Jaeger/Bloomberg
Updated on

At the biggest bank in the richest Nordic economy, the head of wealth management is about to make life harder for his rivals by cutting fees yet again.

DNB Asset Management, which oversees about 600 billion kroner ($67 billion) from Oslo, already lowered fees on several mutual funds back in February. That move gave the asset manager a bigger chunk of the market, with DNB’s share of Norwegian retail business growing to 32.2% in May from 29.8% at the end of March 2018.