dnb nor asa (DNBNOR:Oslo)
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DNB ASA provides financial services to the personal and corporate customers in the Americas, Europe, and Asia. It operates through five segments: Retail Banking, Large Corporates and International, DNB Markets, Insurance and Asset Management, and DNB Baltics and Poland. The Retail Banking segment offers a range of financial products and services, including financing and leasing, insurance, deposit and investment alternatives, home mortgage, and real estate broking and financial advisory services. This segment provides everyday banking services through Internet and mobile banking, SMS services, branch offices, in-store banking outlets, in-store postal outlets, and the Norway Post. The Large Corporates and International segment offers financing solutions, deposits and investments, insurance, e-commerce products, commercial property brokerage, foreign currency, interest rate products, trade finance, and corporate finance services to large Norwegian and international customers. The DNB Markets segment offers foreign exchange, interest rate and commodity, and securities and other investment products; debt and equity financing in capital markets; and research and advisory services, as well as custodial and other securities services. The Insurance and Asset Management segment offers life insurance, non-life insurance, pension savings, and asset management products and services. The DNB Baltics and Poland segment provides financial services to the corporate and personal customers in Estonia, Latvia, and Lithuania. The company serves approximately 1.6 million users primarily in the energy, shipping, and seafood sectors. DNB ASA is represented in 20 countries and has 185 branch offices in Norway. The company was founded in 1882 and is headquartered in Oslo, Norway.
dnb nor asa (DNBNOR) Top Compensated Officers
dnb nor asa (DNBNOR) Key Developments
The Annual General Meeting in DNB ASA was held on April 30, 2013, approved the Board of Directors' proposal distribution of a dividend for 2012 of NOK 2.10 per share, to registered shareholders as at April 30, 2013, to be distributed as from May 30, 2013. The shares in DNB ASA will be quoted ex-dividend on May 02, 2013.
DNB ASA reported earnings results for the first quarter of 2013. For the period, the group profit was NOK 3.18 billion, up from NOK 1.79 billion a year earlier. The improvement was mainly due to the effects of basis swaps being far less negative in the first quarter of 2013 than in the year-earlier period. Net unrealized losses on basis swaps in the first quarter came in at NOK 233 million compared to a net unrealized loss of NOK 2.43 billion a year earlier. Net interest income ticked up to NOK 6.86 billion in the first quarter, from NOK 6.65 billion a year earlier, while net commission and fee income came in slightly higher at NOK 1.69 billion, compared to NOK 1.67 billion. For the period, the company's impairments on loans and guarantees also showed an improvement, coming in at NOK 737 million, compared to NOK 784 million in the first quarter of 2012.
DNB ASA announced that the bank will close 36 branches by 2015 and that more closures may be necessary because of changes in customer behavior. DNB aims to cut 1,500 full-time equivalent jobs.
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Industry Analysis
DNBNOR
Industry Average
| Valuation | DNBNOR | Industry Range |
| Price/Earnings | 10.3x |
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| Price/Sales | 3.8x |
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| Price/Book | 1.2x |
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| Price/Cash Flow | 10.3x |
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| TEV/Sales | NM | Not Meaningful |
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To contact DNB NOR ASA, please visit www.dnbnor.com. Company data is provided by Capital IQ. Please use this form to report any data issues.
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