Stock and press releases

Shareholders in DNB ASA are hereby invited to attend the Annual General Meeting to be held at 3.00 pm on Tuesday, 24 April 2018 in DNB's premises in Dronning Eufemias gate 30, Bjørvika, Oslo, Norway.

Agenda: approval of the 2017 annual report and accounts, reduction in capital as a result of the repurchase of shares, election of members of the Board of Directors and the Election Committee as well as the approval of remuneration rates for members of these bodies. The Board of Directors also asks the General Meeting for an authorisation to repurchase up to 3.5 per cent of the company's share capital as well as the authorisation to DNB Markets of 0.5 per cent for hedging purposes, valid up to the Annual General Meeting in 2019. Initially, DNB will apply to Finanstilsynet (the Financial Supervisory Authority of Norway) for approval of a 2 per cent repurchase limit, as well as 0.5 per cent for hedging purposes.

The Notice of Annual General Meeting is attached.

The DNB group's annual report and Pillar 3-report for 2017 is published today, 8th of March 2018, at DNB's website ir.dnb.no

DNB ASA has finalised its share buy-back programme announced on 1 February 2018. A total of 5.4 million shares have been repurchased in the open market, whereas a total of 2.7 million shares held by the Norwegian government will be redeemed, subject to approval by DNB ASA’s Annual General Meeting in 2018, so that its ownership interest in DNB ASA of 34.0 per cent will remain unaffected following the completion of the buy-back programme. The weighted average purchase/redemption price for the 5.4 million shares is NOK 155.68

This is the third share buy-back programme that DNB has finalised since the Annual General Meeting in 2017. The three programmes, including the shares held by the Norwegian government, represent a total of 24 431 973 shares. 16 125 102 of the shares have been bought in the open market.

The shares comprised by the share buy-back programme will be cancelled subject to approval by the Annual General Meeting in 2018. Together with the 16 287 982 shares comprised by the two share buy-back programmes completed on 14 August 2017 and 8 December respectively, the total number of DNB ASA’s registered shares will be reduced by 1.5 per cent from today's 1 628 798 861.

For further information about the share buy-back programme, DNB ASA refers to the Oslo Stock Exchange notification made on 1 February 2018 (available from www.newsweb.no).

During week 7, DNB ASA has purchased 1 960 000 own shares at an average price of NOK 156.99 per share. After this, DNB ASA owns a total of 15 575 102 own shares.

The repurchase of shares is part of the new share buy-back programme announced by DNB ASA on 1 February 2018. The buy-back programme comprises up to approximately 8.1 millon 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 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 1 February 2018 (available from www.newsweb.no).

During week 5 and 6, DNB ASA has purchased 2 865 034 own shares at an average price of NOK 154.53 per share. After this, DNB ASA owns a total of 13 615 102 own shares.

The repurchase of shares is part of the new share buy-back programme announced by DNB ASA on 1 February 2018. The buy-back programme comprises up to approximately 8.1 millon 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 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 1 February 2018 (available from www.newsweb.no).

DNB is part of a group of Nordic banks currently exploring the possibility of establishing a pan-Nordic payment infrastructure supplemented by common products.

The Nordic payment markets are among the most advanced and well-functioning in the world delivering first-class services to individuals and corporates across the region. At the same time, and despite close ties between the countries, the current payment infrastructures are highly fragmented along national borders. A harmonization of the domestic infrastructures and the products offered would ease cross-border payments and foster further trade between the Nordic countries, stimulating growth and employment. 

A group of major Swedish, Danish, Norwegian and Finnish banks is currently exploring the possibility of establishing a pan-Nordic payment infrastructure supplemented by common products. The vision is to create, within the Nordics, the worlds’ first area for domestic and cross-border payments in multiple currencies (SEK, DKK, NOK and EUR). Based on open access and common European standards, the infrastructure will contribute to increased competition among payment service providers in the Nordics.    

Besides increased integration, a harmonized Nordic payment infrastructure will create a better foundation for innovation and encourage the development of new products and services to the benefit of all end-users. This will in turn enable the Nordics to maintain their position as some of the worlds’ most digital societies. It will also be in line with present-day requirements for payment infrastructures as financial utilities, where scale, security, speed and efficiency have become key. The initiative shares the objectives of current domestic infrastructure projects in Norway and Sweden, but aims at achieving them on a Nordic scale.

Consultations with relevant stakeholders will take place as appropriate.

The banks behind the initiative are Danske Bank, DNB, Handelsbanken, Nordea, OP Financial Group, SEB and Swedbank.

Press contact: Thomas Midteide, group executive vice president, Media & Marketing, tel.: + 47 962 32 017