On 22 December 2023, DNB Bank ASA (“DNB”) announced that the company has decided to initiate a share buy-back programme comprising up to 0.75 percent of the company’s own shares, which represents a total of 11 569 599 shares.

Up to 7 635 935 shares will be purchased on trading venues by 8 March 2024, and a proposal to cancel the shares will be made at the Annual General Meeting in 2024. At the same meeting it will also be proposed to redeem the remaining shares – up to 3 933 664 shares – from the Norwegian Government, represented by the Ministry of Trade, Industry and Fisheries (“NFD”), so that NFD’s ownership interest of 34 percent remains unchanged. 

The total consideration paid for the shares purchased under the buy-back programme, including the shares that will be proposed redeemed from NFD, will not exceed NOK 2.5 billion.

During week 1 of 2024, DNB purchased 741,480 own shares at an average price of NOK 214.9436 per share. Following this, DNB has purchased a total of 1,097,415 own shares under the current buy-back programme, corresponding to 0.07 percent of the shares in the company.

Below is a more detailed overview of the transactions carried out under the buy-back programme:
 

Please see the stock exchange announcement published on 22 December 2023, which is available at www.newsweb.oslobors.no, for more information about the buy-back programme. 

For further information, please contact Rune Helland, Head of Investor Relations, on +47 23 26 84 00 or +47 97 71 32 50.

This announcement contains information that is subject to disclosure requirements pursuant to the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

Attachment: An overview of all buy-backs made this week is enclosed with this announcement and available at www.newsweb.oslobors.no.

In the fourth quarter of 2023, the DNB Group will recognise a negative mark-to-market effect of NOK 499.7 million from basis swaps connected to funding. Furthermore, a negative effect of  NOK 391.9 million from the USD and SEK Additional Tier 1 capital will also be recognised. The effects will appear under Net gains on financial instruments at fair value in our financial statement.

For further information, please contact:
Rune Helland, Head of Investor Relations, tel.: (+47) 23 26 84 00 / (+47) 97 71 32 50

On 22 December 2023, DNB Bank ASA (“DNB”) announced that the company has decided to initiate a share buy-back programme comprising up to 0.75 percent of the company’s own shares, which represents a total of 11 569 599 shares.

Up to 7 635 935 shares will be purchased on trading venues by 8 March 2024, and a proposal to cancel the shares will be made at the Annual General Meeting in 2024. At the same meeting it will also be proposed to redeem the remaining shares – up to 3 933 664 shares – from the Norwegian Government, represented by the Ministry of Trade, Industry and Fisheries (“NFD”), so that NFD’s ownership interest of 34 percent remains unchanged. 

The total consideration paid for the shares purchased under the buy-back programme, including the shares that will be proposed redeemed from NFD, will not exceed NOK 2.5 billion.

During week 52 of 2023, DNB purchased 279,854 own shares at an average price of NOK 213.8220 per share. Following this, DNB has purchased a total of 355,935 own shares under the current buy-back programme, corresponding to 0.02 percent of the shares in the company.

Below is a more detailed overview of the transactions carried out under the buy-back programme:

Please see the stock exchange announcement published on 22 December 2023, which is available at www.newsweb.oslobors.no, for more information about the buy-back programme. 

For further information, please contact Rune Helland, Head of Investor Relations, on +47 23 26 84 00 or +47 97 71 32 50.

This announcement contains information that is subject to disclosure requirements pursuant to the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

Attachment: An overview of all buy-backs made this week is enclosed with this announcement and available at www.newsweb.oslobors.no.

DNB Bank ASA has decided to initiate a share buy-back programme comprising up to 0.75 percent of the company’s own shares, which represents a total of 11,569,599 shares. The buy-back programme was adopted based on an authorisation given by the Annual General Meeting held on 25 April 2023. The Financial Supervisory Authority of Norway has approved the buy-back programme, on the condition that the total buy-backs do not reduce the company’s own funds by more than NOK 2.5 billion.

The purpose of the buy-back programme is to optimise the company’s capital structure, by reducing the common equity tier 1 (CET1) capital ratio by approximately 0.20 percentage points.

Up to 0.495 percent of the company’s own shares, which equals 7,635,935 shares, will be bought back on trading venues, at a price of between NOK 10 and NOK 300 per share. The buy-backs will, at the latest, end on 8 March 2024. DNB Markets will manage the buy-backs on behalf of the company, and will decide the timing of the purchases independently of the company. The shares that are purchased will be proposed cancelled at the Annual General Meeting in 2024.  

The remaining 0.255 percent of the shares – up to 3,933,664 shares – will at the same Annual General Meeting be proposed redeemed from the Norwegian Government, represented by the Ministry of Trade, Industry and Fisheries (“NFD”), so that NFD’s ownership interest of 34 percent remains unchanged. NFD’s shares will be redeemed at a price equal to the average price of the shares bought back on trading venues, with the addition of an interest compensation.

The buy-back programme will be carried out in accordance with the Market Abuse Regulation and the regulation regarding buy-back programmes and stabilisation measures.

The company already owns 1.65 percent of its own shares, which were purchased under the two buy-back programmes carried out between 17 July and 18 October 2023, and between 19 October and 21 December 2023. All these shares will be proposed cancelled at the Annual General Meeting in 2024. Additionally, 0.85 percent of the shares in the company will be proposed redeemed from NFD.

For further information, please contact Rune Helland, Head of Investor Relations, on +47 23 26 84 00 or +47 97 71 32 50. 

This announcement contains information that is subject to disclosure requirements pursuant to the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

DNB Bank ASA (“DNB”) has completed the share buy-back programme announced on 19 October 2023.
 
A total of 10,181,247 shares, which equals 0.66 percent of the shares in the company, were purchased on trading venues, for a total consideration of NOK 2.09 billion. The average price paid per share was NOK 205.24. Following this, DNB owns a total of 25,418,790 own shares, which equals 1.65 percent of the shares in the company. A proposal will be made at the Annual General Meeting in 2024 to cancel all these shares. 
 
At the same meeting it will also be proposed to redeem 13,094,528 shares, which equals 0.85 percent of the shares in the company, from the Norwegian Government, represented by the Ministry of Trade, Industry and Fisheries (“NFD”). The purpose of this is to ensure that NFD’s ownership interest of 34 percent remains unchanged. NFD will receive a total consideration of NOK 2.74 billion and an interest compensation.
 
Please see the stock exchange announcement published on 19 October 2023, which is available at www.newsweb.oslobors.no, for more information about the buy-back programme. 
 
For further information, please contact Rune Helland, Head of Investor Relations, on +47 23 26 84 00 or +47 97 71 32 50.
 
This announcement contains information that is subject to disclosure requirements pursuant to the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

On 19 October 2023, DNB Bank ASA (“DNB”) announced that the company has decided to initiate a share buy-back programme comprising up to 1.0 percent of the company’s own shares, which represents a total of 15,426,132 shares.

Up to 10,181,247 shares will be purchased on trading venues by 30 January 2024, and a proposal to cancel the shares will be made at the Annual General Meeting in 2024. At the same meeting it will also be proposed to redeem the remaining shares – up to 5,244,885 shares – from the Norwegian Government, represented by the Ministry of Trade, Industry and Fisheries (“NFD”), so that NFD’s ownership interest of 34 percent remains unchanged. 

The total consideration paid for the shares purchased under the buy-back programme, including the shares that will be proposed redeemed from NFD, will not exceed NOK 3.3 billion.

During week 51 of 2023, DNB purchased 856 228 own shares at an average price of NOK 210.9637 per share. Following this, DNB has purchased a total of 10,181,247 own shares under the current buy-back programme, corresponding to 0.66 percent of the shares in the company.

Below is a more detailed overview of the transactions carried out under the buy-back programme:

For more information about the buy-back programme, please see the stock exchange announcement that was published on 19 October 2023, which is available at www.newsweb.oslobors.no. 

For further information, please contact Rune Helland, Head of Investor Relations, on +47 23 26 84 00 or +47 97 71 32 50.

This announcement contains information that is subject to disclosure requirements pursuant to the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

Attachment: An overview of all buy-backs made this week is enclosed with this announcement and available at www.newsweb.oslobors.no. 

“Based on Norges Bank's decision to raise the key policy rate by 0.25 percentage point at the monetary policy meeting on 14 December, DNB has decided to increase the interest rate on all savings accounts by 0.25 percentage point or more. The interest rate on mortgages will increase by up to 0.25 percentage point,” says Ingjerd Blekeli Spiten, head of Personal Banking in DNB.  

In DNB, we want to help young people enter the housing market, and customers who are buying their first home will after the increase in interest rate be given our best floating interest rate of 5.49 per cent. The interest rate for deposits in the BSU home savings scheme for young people will be 6.60 per cent. We have also strengthened our advisory services targeting customers with financial challenges. 

The new interest rates will apply from 20 February 2024 for existing loans and deposits. All customers whose interest rates are to be adjusted will be given information in the online bank or receive a letter by post. 

For further information:  

Rune Helland, Head of Investor Relations, tel.: (+47) 23 26 84 00 / (+47) 97 71 32 50 

Øystein Kløvstad Langberg, Head of Communications, tel: (+47) 98 04 88 25 

On 19 October 2023, DNB Bank ASA (“DNB”) announced that the company has decided to initiate a share buy-back programme comprising up to 1.0 percent of the company’s own shares, which represents a total of 15,426,132 shares.

Up to 10,181,247 shares will be purchased on trading venues by 30 January 2024, and a proposal to cancel the shares will be made at the Annual General Meeting in 2024. At the same meeting it will also be proposed to redeem the remaining shares – up to 5,244,885 shares – from the Norwegian Government, represented by the Ministry of Trade, Industry and Fisheries (“NFD”), so that NFD’s ownership interest of 34 percent remains unchanged. 

The total consideration paid for the shares purchased under the buy-back programme, including the shares that will be proposed redeemed from NFD, will not exceed NOK 3.3 billion.

During week 50 of 2023, DNB purchased 1,200,588 own shares at an average price of NOK 210.4800 per share. Following this, DNB has purchased a total of 9,325,019 own shares under the current buy-back programme, corresponding to 0.61 percent of the shares in the company.

Below is a more detailed overview of the transactions carried out under the buy-back programme:

For more information about the buy-back programme, please see the stock exchange announcement that was published on 19 October 2023, which is available at www.newsweb.oslobors.no. 

For further information, please contact Rune Helland, Head of Investor Relations, on +47 23 26 84 00 or +47 97 71 32 50.

This announcement contains information that is subject to disclosure requirements pursuant to the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

Attachment: An overview of all buy-backs made this week is enclosed with this announcement and available at www.newsweb.oslobors.no. 

On 19 October 2023, DNB Bank ASA (“DNB”) announced that the company has decided to initiate a share buy-back programme comprising up to 1.0 percent of the company’s own shares, which represents a total of 15,426,132 shares.

Up to 10,181,247 shares will be purchased on trading venues by 30 January 2024, and a proposal to cancel the shares will be made at the Annual General Meeting in 2024. At the same meeting it will also be proposed to redeem the remaining shares – up to 5,244,885 shares – from the Norwegian Government, represented by the Ministry of Trade, Industry and Fisheries (“NFD”), so that NFD’s ownership interest of 34 percent remains unchanged. 

The total consideration paid for the shares purchased under the buy-back programme, including the shares that will be proposed redeemed from NFD, will not exceed NOK 3.3 billion.

During week 49 of 2023, DNB purchased 1,126,800 own shares at an average price of NOK 209.7985 per share. Following this, DNB has purchased a total of 8,124,461 own shares under the current buy-back programme, corresponding to 0.53 percent of the shares in the company.

Below is a more detailed overview of the transactions carried out under the buy-back programme:

For more information about the buy-back programme, please see the stock exchange announcement that was published on 19 October 2023, which is available at www.newsweb.oslobors.no. 

For further information, please contact Rune Helland, Head of Investor Relations, on +47 23 26 84 00 or +47 97 71 32 50.

This announcement contains information that is subject to disclosure requirements pursuant to the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

Attachment: An overview of all buy-backs made this week is enclosed with this announcement and available at www.newsweb.oslobors.no. 

The Financial Supervisory Authority of Norway (“the FSA”) regularly (and usually each year) carries out a Supervisory Review and Evaluation Process (“SREP”), where they evaluate the risks and capital needs of DNB. The SREP includes a decision regarding the Pillar 2 Requirement and the Pillar 2 Guidance, which comes in addition to the minimum requirements and combined buffer requirements under Pillar 1. DNB has now received this year’s decision from the FSA, which will apply from 31 December 2023.
 
The FSA has decided that the Pillar 2 Requirement for DNB (on a group level) shall be reduced from 2.1 % to 2.0 % of the total risk exposure amount (TREA). At least 56.25 % of the requirement shall be met with common equity tier 1 (CET1) capital, while 75 % must be met with tier 1 capital. The new Pillar 2 Requirement will therefore decrease the total capital requirement by 0.1 percentage points, while the CET1 requirement will be reduced by 0.056 percentage points and the tier 1 requirement will be reduced by 0.075 percentage points. 
 
The Pillar 2 Guidance is reduced from 1.5 % to 1.25 % of TREA. 

In total, the new Pillar 2 Requirement and Pillar 2 Guidance will reduce the FSA’s expectation of DNB’s CET1 capital ratio by 0.3 percentage points.

For further information, please contact Rune Helland, Head of Investor Relations, on +47 23 26 84 00 or +47 97 71 32 50.