DnB NOR Bank ASA

Contacts 
    Address  N-0191, Norway, OSLO, Dronning Eufemias gate 30
    Website  https://www.dnb.no/portalfront/nedlast/no/om-oss/vedlegg/dnb-bank-finansagenter.pdf?popup=true
Head of Group  DNB (Norway)
Bank Identifiers 
    Company Number  984851006
Bank Category  Commercial bank
Credit Ratings (as of Dec 2014) 
    Fitch  A+ (high credit quality)
    Moody's  A1 (upper medium grade)
    S&P's  A+ (strong capacity to meet its financial commitments)
Deposit Guarantee  Yes (up to 2 000 000 NOK per depositor)
Start Date  01 January 2006
Financial Positions 
    Total Assets (2013)  218.30 bln EUR ↓ (-7.64%)
    Total Equity (2013)  13 702.09 mln EUR ↓ (-4.54%)
Profit and Loss 
    Operating Income (2013)  2 342.09 mln EUR ↓ (-3.02%)
    Annual Profit (2013)  1 842.25 mln EUR ↑ (+4.45%)

Bank Identifiers

Any bank can be identified for different purposes and hence can have several different identifiers.

Company Registration Number

Company Registration Number is a distinctive code issued upon registration of a new company. This code can be used to find data about the company in a national company register.

Company Registration Number  984851006

Credit Ratings

Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government.
Of the 'Big Three' rating agencies, DnB NOR Bank ASA is rated by Fitch and Standard & Poor's.

Credit ratings assigned to DnB NOR Bank ASA as of December 2014 are shown in details in the following sections.

Fitch

Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for DnB NOR Bank ASA it is set to A+ (high credit quality), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for DnB NOR Bank ASA is set to F1 (highest short-term credit quality).

Long-Term Issuer Default Rating  A+
    Outlook  stable
    On Watch  No
Short-Term Issuer Default Rating  F1
Viability Rating  a+
Support Rating  1
Support Rating Floor  A

Viability rating for DnB NOR Bank ASA is set to a+ (high fundamental credit quality); support rating is 1 (extremely high probability of external support); support rating floor is A (high credit quality).

Moody's

Long-term rating is for DnB NOR Bank ASA it is set to A1 (upper medium grade). Long-term bank deposit rating is A1 (upper medium grade). Bank financial strength rating is C- (adequate intrinsic financial strength). Short-term rating is not assigned.

Long-Term Rating  A1
Long-Term Bank Deposit Rating  A1
Bank Financial Strength Rating  C-
Short-Term Rating  -
Outlook  negative

Outlook for the ratings of DnB NOR Bank ASA is set to negative (may be lowered).

Standard & Poor's

Long-term foreign currency rating for DnB NOR Bank ASA is set to A+ (strong capacity to meet its financial commitments). Long-term local currency rating is set to A+ (strong capacity to meet its financial commitments).

Long-Term Foreign Currency Rating  A+
    Outlook  stable (not likely to change)
    Credit Watch  -
Long-Term Local Currency Rating  A+
    Outlook  stable (not likely to change)
    Credit Watch  -
Short-Term Foreign Currency Rating  A-1
Short-Term Local Currency Rating  A-1

Short-term foreign currency rating for DnB NOR Bank ASA is set to A-1 (strong capacity to meet its financial commitments). Short-term local currency rating is set to A-1 (strong capacity to meet its financial commitments).

Deposit Guarantee

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in Norway are obliged to participate in Norwegian deposit guarantee scheme.

In the case of DnB NOR Bank ASA failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  natural persons, legal entities
Covered Accounts  any credit balance on a named account, and any debt evidenced by a certificate of deposit issued to a named person
Maximum Protected Amount  2 000 000 NOK
Paid In Currency  NOK

Further Information: Deposit Guarantee Scheme in Norway

Financial Positions

In 2013 total assets of DnB NOR Bank ASA were 218.30 bln EUR. Decline compared to the previous period (2012) was -7.64%. The evolution of the total assets of DnB NOR Bank ASA is shown at Chart 1 below.

Total Assets of DnB NOR Bank ASA.
Chart 1. Total Assets of DnB NOR Bank ASA.

Recent changes in total assets of DnB NOR Bank ASA and its main components are shown in Table 1.

2012 2013 % Change
Cash and deposits with Central Banks 40.3 19.5 -51.59% ↓
Loans to banks 28.4 47.8 +68.23% ↑
Loans to customers 98.3 82.3 -16.24% ↓
Total Assets 236.4 218.3 -7.64% ↓
Table 1. Recent changes in total assets of DnB NOR Bank ASA (bln EUR).

Recent changes in total liabilities of DnB NOR Bank ASA and its main components are shown in Table 2.

2012 2013 % Change
Bank deposits 38.5 33.6 -12.84% ↓
Customer deposits 107.1 101.5 -5.23% ↓
Total Liabilities 236.4 218.3 -7.64% ↓
Table 2. Recent changes in total liabilities of DnB NOR Bank ASA (bln EUR).

Profit and Loss

Recent changes in gross profit of DnB NOR Bank ASA and its main components are shown in Table 3.

2012 2013 % Change
Interest Income 6 431.0 5 461.4 -15.08% ↓
Interest Charges -3 495.0 -2 740.0 -21.60% ↓
Net Interest Income 2 936.0 2 721.4 -7.31% ↓
Commission Income 714.2 706.1 -1.13% ↓
Commission Charges -265.2 -256.6 -3.25% ↓
Table 3. Recent changes in gross profit of DnB NOR Bank ASA (mln EUR).

In 2013 annual profit of DnB NOR Bank ASA was 1 842.25 mln EUR. Growth compared to the previous period (2012) was 4.45%. The evolution of the annual profit of DnB NOR Bank ASA is shown at Chart 2 below.

Annual Profit of DnB NOR Bank ASA.
Chart 2. Annual Profit of DnB NOR Bank ASA.

Related Information on Norway

Economy and Banking Sector of Norway

List of Banks in Norway

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