Stock and press releases

Almost all of DNB’s customers have become digital. The bank is now implementing extensive measures to adjust branches and staff numbers to the new banking reality. Parallel to this, additional resources are being allocated to the customer service centre and to the innovation of new digital services, such as Vipps.

"When customers change their banking habits, we must follow suit. Developments over the last two years have shown that customers have more contact with us than before, but in completely different ways. They would like their bank to be available all the time, and use their mobile phones for everything from paying bills to applying for a mortgage," says group executive vice president Trond Bentestuen, head of Personal Banking Norway in DNB.

The pace of the digital banking revolution is much faster than many envisaged just two years ago:

• 85 per cent of Norwegian banking customers no longer use a bank branch for everyday banking.[1]

• Nine of ten Norwegians do their banking online, and an increasing number use their mobile phones or tablets.[2]

• In 2015, DNB had as many as 156 million visits to its mobile bank and 91 million visits to its Internet bank.

• Over-the-counter services in branches have been reduced by 82 per cent in the last two years.

• Four of five DNB customers who entered into savings schemes last year, did this online.

• Vipps, DNB’s payment app, is now used by more than 1 million Norwegians and has changed the way we send money to each other.

• Corporate customers use the bank in different ways than before. Nine of ten companies that establish a new customer relationship with the bank do so digitally.

"Customers make extensive use of our self-service channels, and therefore it is a logical consequence to adjust our physical distribution network. Consequently, we will reduce the number of branches serving our personal customers from 116 to 57 during the first six months of this year," says Bentestuen. Changes are also being made in the corporate market, from 63 to 46 locations. DNB Eiendom will retain their presence in current locations.

DNB will still have branches in all counties in Norway and most customers who live close to a branch which will be closed, will have less than thirty minutes to drive to their nearest DNB branch.

"We will retain a physical presence in many places in Norway. When customers wish to meet with the bank in person, we will offer the right expertise and high-quality advisory services. We are also increasing the number of employees at our customer service centre, where everyone who contacts us receives personal service 24/7, both on the phone and via our chat services," says Bentestuen.

As communicated in DNB’s presentation at the Capital Markets Day on 25 November 2015, the reduction in the number of branch offices will entail that fewer employees are needed. In 2015, staff at the branch offices was reduced by 200 full-time positions, mainly by natural attrition. The changes announced today entail a further reduction of some 600 full-time positions at our branches during 2016.

"This is a challenging day for the employees affected, and it is regretful that so many competent employees will have to leave the bank. We will do what we can to implement the staff reductions through voluntary measures," says Bentestuen.

"For most of our customers, both personal and corporate, little will change. They can solve their everyday banking needs digitally. They can call us 24/7, every day, 365 days a year. They can also meet us via our chat and social media channels. Straightforward banking services can be carried out in in-store postal and banking outlets and in post offices at more than 2,400 locations across the country," concludes the group executive vice president.

[1 and 2] Dagligbankundersøkelsen 2015 (Finans Norge)

For further information, please contact:

Group executive vice president, Personal Banking Norway, Trond Bentestuen: tel: (+47) 95028448

Executive vice president, Corporate Communications, Even Westerveld: tel: (+47) 400 16 744

07:30 CET – result release
DNB’s Q4 2015 results will be released at 07:30 am CET on Thursday, 04 February 2016, and we would like to invite you to the following presentations:

09:30 CET – press conference & live web-TV
A press conference (in Norwegian) will be held on Thursday, 04 February at 09:30 am CET at DNB’s head office in Bjørvika, Dronning Eufemias gate 30, 0191 Oslo. For those who are unable to attend the presentation in Bjørvika, there will be a live web-TV broadcast of the conference (in Norwegian); http://presenter.qbrick.com/?pguid=c5c13f66-8a85-4a0d-aa8c-f25bde6c8256. For further information, please visit www.dnb.no/ir.  Please register your attendance in Oslo at [email protected].  

14:00 CET – investors and analyst conference call & phone-cast
A conference call for investors and analysts will be held on Thursday, 04 February at 14:00 CET. To attend the conference call we kindly ask you to dial in 10 minutes before start at +47 21 56 33 18 or international: +44 (0)20 3003 2666 or US: +1 646 843 4608. Password: DNB Q4.
You can also attend the call by listen only mode at the phone-cast link http://presenter.qbrick.com/?pguid=06dd8548-a8b5-4afe-8cd2-485bbc8b0c14.  A replay of the phone-cast will be available after the call (at the same link as above).

Friday 05 February 07:15 for 07:30 GMT – analyst and investor breakfast in London
An analyst and investor breakfast will be held in London on Friday, 05 February at 07:15 am for 07:30 am (local time/GMT) at DNB Bank ASA London Branch, 8th Floor, The Walbrook Building, 25 Walbrook London EC4N8AF (please note the address). Please register your attendance in London at [email protected].

For further information, please contact:
Rune Helland, Head of IR: phone: +47 23 26 84 00 / mobile: +47 977 13 250
Amra Koluder, phone: +47 23 26 84 08 / mobile: +47 977 35 378
Thor Tellefsen, phone: +47 23 26 84 04 / mobile:+47 915 44 385

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07:30 CET – result release
DNB’s Q4 2015 results will be released at 07:30 am CET on Thursday, 04 February 2016, and we would like to invite you to the following presentations:

09:30 CET – press conference & live web-TV
A press conference (in Norwegian) will be held on Thursday, 04 February at 9:30 am CET at DNB’s head office in Bjørvika, Dronning Eufemias gate 30, 0191 Oslo. For those who are unable to attend the presentation in Bjørvika, there will be a live web-TV broadcast of the conference (in Norwegian). For further information, please visit www.dnb.no/ir. Please register your attendance in Oslo at [email protected].

14:00 CET – investors and analyst conference call & phone-cast
A conference call for investors and analysts will be held on Thursday, 04 February at 2:00 pm CET. To attend the conference call we kindly ask you to dial in 10 minutes before start +47 21 56 33 18 or international: +44 (0)20 3003 2666 or US: +1 646 843 4608. Password: DNB Q4.

You can also attend the call by listen only mode at the phone-cast link http://presenter.qbrick.com/?pguid=06dd8548-a8b5-4afe-8cd2-485bbc8b0c14. A replay of the phone-cast will be available after the call (at the same link as above).

Friday 05 February 0715 for 0730 GMT – analyst and investor breakfast in London
An analyst and investor breakfast will be held in London on Friday, 05 October at 0715 am for 0730 am (local time/GMT) at DNB Bank ASA London Branch, 8th Floor, The Walbrook Building, 25 Walbrook London EC4N8AF (please note the address). Please register your attendance in London at [email protected].

For further information, please contact:

Rune Helland, Head of IR: phone: +47 23 26 84 00 / mobile: +47 977 13 250
Amra Koluder, phone: +47 23 26 84 08 / mobile: +47 977 35 378

Thor Tellefsen, phone: +47 23 26 84 04 / mobile:+47 915 44 385
 

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DNB has decided to change its pension scheme from a defined-benefit to a defined-contribution scheme for the majority of its employees in Norway. The change is necessary to adapt to the Norwegian pension reform and the decision has been made in consultation with the employee representatives. The new pension scheme will contribute to reducing future pension commitments. De-recognition of existing pension commitments will give a pre-tax gain of approximately NOK 2 billion in the fourth quarter and reduce pension costs by a corresponding amount.

This will also have a positive effect on CET 1.

For further information, please contact Investor Relations in DNB:
Rune Helland : +47 23268400
Thor Tellefsen : +47 23268404

In the fourth quarter of 2015, the DNB Group will record a negative effect of basis swaps connected to funding of approximately NOK 4 million.

In the fourth quarter of 2014, there was a positive effect of basis swaps of NOK 508 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.

For further information, please contact Investor Relations in DNB:
Rune Helland : +47 23268400
Thor Tellefsen : +47 23268404

The Norwegian Financial Supervisory Authority of Norway (NFSA) has approved the use of transitional rules for technical provisions for DNB Livsforsikring AS under Solvency II.

 The transitional rules can be recalculated quarterly.

Contacts:
Rune Helland, Head of Investor Relations. Ph: +47 97713250
Anders Skjævestad, CEO DNB LIV. Telefon: +47 93407403