Stock and press releases

DNB’s financial calendar for 2017 has been published today.

Financial calendar for 2016

Financial calendar for 2017

DNB will publish its results for the first quarter of 2016 on Thursday, 28 April 2016 at 7.30 am CEST.

28 April at 9.30 am CEST: press conference accessible via live web TV
Place: DNB’s head office in Bjørvika, Dronning Eufemias gate 30, Oslo.
A live broadcast will be available at www.dnb.no/en/ir and direct link.
Please register your attendance in Oslo at [email protected].
The press conference will be held in Norwegian.

28 April at 1.30 pm CEST (new time): conference call for analysts and investors
To attend the conference call: dial (+47) 21 56 33 18 or from outside Norway: +44 (0) 20 3003 2666 or from the US: +1 646 843 4608. Password: DNB Q1.
The phonecast (listen only mode) and replay will be available at www.dnb.no/en/ir and direct link.

29 April at 07.30 am BST: conference for analysts and investors in London
Place: Deutsche Bank - 8th floor, Winchester House, 1 Great Winchester Street, London EC2N 2DB.
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 first quarter of 2016 on Thursday, 28 April 2016 at 7.30 am CEST.

28 April at 9.30 am CEST: press conference accessible via live web TV
Place: DNB’s head office in Bjørvika, Dronning Eufemias gate 30, Oslo.
A live broadcast will be available at www.dnb.no/en/ir and direct link.
Please register your attendance in Oslo at [email protected].
The press conference will be held in Norwegian.

28 April at 1.30 pm CEST (new time): conference call for analysts and investors
To attend the conference call: dial (+47) 21 56 33 18 or from outside Norway: +44 (0) 20 3003 2666 or from the US: +1 646 843 4608. Password: DNB Q1.
The phonecast (listen only mode) and replay will be available at www.dnb.no/en/ir and direct link.

29 April at 07.30 am BST: conference for analysts and investors in London
Place: Deutsche Bank - 8th floor, Winchester House, 1 Great Winchester Street, London EC2N 2DB.
Please register your attendance in London at [email protected].

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

Today, the Board of Directors of DNB ASA has sent a written report to the Ministry of Trade, Industry and Fisheries at the request of the Minister.

The background for the report is that the bank’s subsidiary in Luxembourg facilitated the establishment of companies in the Seychelles for customers. In the report, the Board of Directors presents the findings which have thus far resulted from the internal investigations. Based on the report, the Board has already asked the company to implement several measures.

"Group Legal in DNB has done a thorough job, reviewed a large number of documents and interviewed a number of employees and former employees. Based on the investigations, the Board of Directors has prepared a written report which sums up the main findings and the measures which have already been initiated to ensure that DNB’s operations are in line with both regulations and the expectations of its owners, customers and society at large,” says board chairman Anne Carine Tanum.

In addition, the Board of Directors has decided to implement additional measures:

1.The Board of Directors asks the group chief executive to consider the organisation of DNB’s operations in Luxembourg (including a description of current procedures and the division of responsibilities and roles), with special focus on private banking operations.

2.The Board of Directors asks the group chief executive to consider the products and services distributed in the private banking channels, with special focus on aspects which may give rise to reputational issues.

3.The Board of Directors asks the group chief executive to consider the principles for the management and control of international subsidiaries, with special focus on the workforce situation and resources, governance, board composition and compliance.

4.The Board of Directors will, in cooperation with the group chief audit executive, consider the expertise and resources relating to the internal audit functions.

The report and attachments (in Norwegian only) are available at:
https://dnbfeed.no/nyheter/redegjorelse-om-dnb-luxembourg/

Contact person:
Even Westerveld, EVP Corporate Communications, tel. (+47) 400 16 744

In the first quarter of 2016, the DNB Group will record a positive effect of basis swaps connected to funding of NOK 1 003 million.

In the first quarter of 2015, there was a positive effect of basis swaps of NOK 1 810 million.

Basis swaps are derivative contracts entered into in connection with long-term funding in international capital markets where the relevant currency is converted to Norwegian kroner. These swaps are hedging instruments, and over the lifetime of the derivatives the mark-to-market adjustments will have zero effect.

With effect from the second quarter of 2016, DNB will no longer report the basis swap impact ahead of its quarterly reporting.

The reason for this change is that the effect of basis swaps has become only one of many mark-to-market adjustments in the Group’s quarterly reporting, some of which will be negative and some positive. DNB believes it will be better to report and explain these effects all at once when its quarterly report is presented.

Shareholders in DNB ASA are hereby invited to attend the Annual General Meeting to be held at 3.00 pm on Tuesday, 26 April 2016 in DNB's premises in Dronning Eufemias gate 30, Bjørvika, Oslo, Norway. The Notice of Annual General Meeting is attached.