During week 46 2017, DNB ASA has purchased 290,000 own shares at an average price of NOK 156.71 per share. During this programme DNB ASA has bought 3,285,034 own shares and now owns a total of 8,660,068 own shares.

The repurchase of shares is part of the new share buy-back programme announced by DNB ASA on 21 September 2017. The buy-back programme comprises up to approximately 8.1 million shares, of which up to approximately 5.4 million will be repurchased in the open market. The rest will be redeemed from the state of Norway on a proportionate basis, subject to approval from DNB ASA’s annual general meeting in 2018, so that its current ownership interest of 34.00% will remain unaffected following completion of the buy-back programme. 

For further information about the share buy-back programme, DNB ASA refers to the Oslo Stock Exchange notification made on 21 September 2017 (available from www.newsweb.no). 

Our financial ambitions remain firm.

ROE above 12%
C/I ratio below 40%
Dividend payout ratio above 50%
CET1 ratio ~16.1%

Please find the CMD presentation attached. The presentation is also available at ir.dnb.no

The CMD presentation will be streamed live from 12:30 GMT / 13:30 CET.

During week 47 2017, DNB ASA has purchased 470,000 own shares at an average price of NOK 151.59 per share. During this programme DNB ASA has bought 3,755,034 own shares and now owns a total of 9,130,068 own shares.

The repurchase of shares is part of the new share buy-back programme announced by DNB ASA on 21 September 2017. The buy-back programme comprises up to approximately 8.1 million shares, of which up to approximately 5.4 million will be repurchased in the open market. The rest will be redeemed from the state of Norway on a proportionate basis, subject to approval from DNB ASA’s annual general meeting in 2018, so that its current ownership interest of 34.00% will remain unaffected following completion of the buy-back programme. 

For further information about the share buy-back programme, DNB ASA refers to the Oslo Stock Exchange notification made on 21 September 2017 (available from www.newsweb.no). 

During week 48 2017, DNB ASA has purchased 890,000 own shares at an average price of NOK 151.05 per share. During this programme DNB ASA has bought 4,645,034 own shares and now owns a total of 10,020,068 own shares.

The repurchase of shares is part of the new share buy-back programme announced by DNB ASA on 21 September 2017. The buy-back programme comprises up to approximately 8.1 million shares, of which up to approximately 5.4 million will be repurchased in the open market. The rest will be redeemed from the state of Norway on a proportionate basis, subject to approval from DNB ASA’s annual general meeting in 2018, so that its current ownership interest of 34.00% will remain unaffected following completion of the buy-back programme. 

For further information about the share buy-back programme, DNB ASA refers to the Oslo Stock Exchange notification made on 21 September 2017 (available from www.newsweb.no). 

DNB ASA has finalised its share buy-back programme announced on 21 September 2017. A total of 5.4 million shares were repurchased in the open market, whereas a total of 2.7 million shares will be redeemed from the state of Norway, so that its ownership interest in DNB ASA of 34 per cent will remain unaffected following completion of the buy-back programme. The weighted average purchase/redemption price for the 5.4 million shares is NOK 155.75 and with this DNB ASA will return approximately NOK 837 million to shareholders.

This is the second share buy-back programme that DNB has finalised in 2017. The two programs, including the shares from the state of Norway, total 16.3 million shares. Of the 16.3 million, 10.8 million shares have been bought in the open market.

The 16.3 million shares will be cancelled subject to approval by the annual general meeting in 2018, whereby the number of DNB ASA’s registered shares will be reduced by 1.0 per cent from today's 1 628 798 861.

For further information, please contact:

Investor contacts:
Rune Helland, head of Investor Relations, tel. ( 47) 23 26 84 00 / ( 47) 977 13 250
Amra Koluder, SVP Investor Relations, tel. ( 47) 23 26 84 08 / ( 47) 977 35 378

Background information about the finalised programme

DNB ASA has decided to initiate a share buy-back programme comprising up to 0.5 per cent of its registered shares, representing a total of 8.1 million shares.

The buy-back programme will be carried out on the basis of the authorization given by DNB ASA’s annual general meeting on 25 April 2017, where it was approved that DNB ASA may repurchase shares up to a maximum of 1.5 per cent of its registered shares. DNB ASA may at a later stage decide to initiate further share buy-back programmes, up to the maximum limit approved by the annual general meeting.

Up to 5.4 million of the shares comprised by the buy-back programme will be repurchased in the open market. The remaining shares will be redeemed from the state of Norway through the Ministry of Trade, Industry and Fisheries, according to an agreement between DNB ASA and the state of Norway and subject to approval from DNB ASA’s annual general meeting in 2018. According to the agreement, the state of Norway shall redeem shares on a proportionate basis so that its current ownership interest in DNB ASA of 34 per cent remains unaffected following completion of the buy-back programme.

DNB ASA will seek approval from the annual general meeting in 2018 for cancellation of the repurchased shares and a corresponding redemption of the proportionate number of shares owned by the state of Norway.The redemption of the shares owned by the state of Norway shall be made against a payment which shall correspond to an average volume weighted price of DNB ASA’s repurchase of shares in the open market as a part of the buy-back programme, including an interest compensation and an agreed adjustment for dividend paid on the redemption shares in the buy-back period (if any). Subject to approval by the annual general meeting in 2018, the total number of registered shares of DNB ASA will be reduced by up to 0.5 per cent.

DNB Bank ASA has made changes to its group management team effective on Monday, 11 December 2017. The changes are made to reinforce DNB’s strategic priorities.

The company’s new group management team consists of:

Rune Bjerke: Group chief executive

Kjerstin Braathen, group executive vice president, Group Finance 

Harald Serck-Hanssen, group executive vice president, Large Corporates and International

Ingjerd Blekeli Spiten (starting in January 2018), group executive vice president, Personal Banking

Solveig Hellebust, group executive vice president, People & Operations

Alf Otterstad (acting), group executive vice president, IT

Ottar Ertzeid, group executive vice president, Markets

Benedicte Schilbred Fasmer, group executive vice president, Corporate Banking

Trond Bentestuen, group executive vice president, Wealth Management & Insurance

Ida Lerner, group executive vice president, Risk Management

Mirella Elisa Wassiluk (starting in April 2018), group executive vice president, Compliance

Rasmus Aage Figenschou (acting), group executive vice president, New Business

Thomas Midteide, group executive vice president, Media & Marketing

Contact persons:

Thomas Midteide, group executive vice president, Media & Marketing, mobile (+47) 96232017

Rune Helland, head of Investor Relations, mobile (+47) 97713250

The annual report and PILAR 3-report for the DNB Group for 2014 will be published on theGroup's website at www.dnb.no/ir today.

For further information, please contact:
Thomas Midteide, Corporate Communication, mobile: +47 962 32 017
Jan Erik Gjerland, Investor Relations, direct line: +47 23 26 84 00.

DNB will publish its results for the fourth quarter of 2017 on Thursday, 1 February 2018 at 7.30 am CET.

1 February at 9.30 am CET: press conference in English accessible via live web TV
Place: DNB’s head office in Bjørvika, Dronning Eufemias gate 30, Oslo. A live broadcast will be available on the Investor Relations pages at ir.dnb.no.
Please register your attendance in Oslo at [email protected].

The press conference will be held in English.

1 February at 1.30 pm CET: conference call for analysts and investors
To attend the conference call: (+47) 2156 3016 or from outside Norway: +44 (0) 20 3003 2666 or from the US: +1 646 843 4608.
Password: DNB Q4

The phonecast (listen only mode) and replay will be available on the Investor Relations pages at ir.dnb.no

2 February at 07:45 pm GMT: breakfast conference for analysts in London
Place: DNB Bank ASA, 8th Floor, The Walbrook Builiding, 25 Walbrook, London EC4N 8AF. Please register your attendance in London at [email protected] .

Management will present the results followed by a Q&A session.

DNB will publish its results for the fourth quarter of 2017 on Thursday, 1 February 2018 at 7.30 am CET.

1 February at 9.30 am CET: press conference in English accessible via live web TV
Place: DNB’s head office in Bjørvika, Dronning Eufemias gate 30, Oslo. A live broadcast will be available on the Investor Relations pages at ir.dnb.no.
Please register your attendance in Oslo at [email protected].

The press conference will be held in English.

1 February at 1.30 pm CET: conference call for analysts and investors
To attend the conference call: (+47) 2156 3016 or from outside Norway: +44 (0) 20 3003 2666 or from the US: +1 646 843 4608.
Password: DNB Q4

The phonecast (listen only mode) and replay will be available on the Investor Relations pages at ir.dnb.no

2 February at 07:45 pm GMT: breakfast conference for analysts in London
Place: DNB Bank ASA, 8th Floor, The Walbrook Builiding, 25 Walbrook, London EC4N 8AF. Please register your attendance in London at [email protected] .

Management will present the results followed by a Q&A session.