Key figures

Financial highlights
70.2

Customer satisfaction score

33.5%

Female representation at management levels 1–4

50%

Share of Norway's adult population using Vipps

Return on equity
Per cent
Common equity Tier 1 capital ratio, transitional rules
Per cent
Cost/income ratio
Per cent
Share dividend and payout ratio
The DNB Group's market capitalisation and equity
Segments – pre-tax operating profit
Market shares in Norway
Market shares in Norway

Vision and values, strategy and targets

DNB represents more than 190 years of financial history, from the establishment of Christiania Sparebank in 1822 to the position as Norway’s largest financial services group, with total combined assets of NOK 2 931 billion as at 31 December 2016.

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Norway's largest mobile bank with more than 200 million visits per year.

A unique distribution network across Norway comprising branch offices, post offices and stores. Available via telephone, chat and Facebook 24/7, 365 days a year. Loan applications are processed between 8.00 a.m. and 10.00 p.m. every day.

Norway's leading financial services group with 2.1 million personal customers and 183 000 corporate customers.

215 667 non-life insurance customers.

Provides life insurance and pension products to just over 1.2 million customers and has individual and group agreements with some 25 000 companies.

Norway's second largest real estate broker, with a market share of 19 per cent. Leading market position in Oslo.

One of the world's leading shipping and seafood banks.

A significant international player within energy and healthcare financing. 40 per cent of the financing of water, wind and solar power is international.

2.1 million personal customers and 30 000 companies use the Vipps payment app. Vipps Invoice was launched in 2016.

2 763 entrepreneurs received help to start their own business in 2016.

DNB Asset Management is Norway's largest asset management company with close to 480 000 mutual fund customers in Norway and 103 institutional clients in Norway and Sweden. Assets under management total NOK 531 billion.

Ranked as number one within equity brokerage and research in Norway in 2016. Largest arranger of commercial paper and bond issues in Norway in 2016. Ranked as number one among bond issuers in Norway in 2016.

In 2016, 1 391 teachers started using A Valuable Lesson, and 326 Internet banking courses were held.

A market leader within cash management in Norway, a leading trade finance bank and an important global partner for international customers.

  • A number of new agreements were entered into concerning the use of the Vipps payment app. DNB, Nets and Verifone signed an agreement enabling customers to use Vipps as a means of payment in shops. DNB also entered into agreements with Oslo Taxi on the use of Vipps in their app Taxifix, with the electronics chain Elkjøp on the use of Vipps in their online shops and with NSB (the Norwegian State Railways) to integrate Vipps in the NSB app.
  • In consequence of developments in the interest rate market and the competitive situation, DNB decided in February to reduce home mortgage rates by up to 0.15 percentage points.
  • DNB Markets was ranked best in Norway within bond brokerage in Prospera’s customer survey. In addition, DNB got the highest score within the category Information and Investor Relations.
  • New solvency regulations for European insurance companies, Solvency II, entered into force on 1 January.
  • To reflect changes in both markets and regulations and in line with the Group’s commitment to digitalisation, cost reductions and the build-up of Tier 1 capital, 59 branch offices were closed during the first half of 2016.
  • As part of DNB’s strategic focus on insurance, the campaign “Insurance from A to Z” was launched. DNB’s “Travel Insurance Best” was, for the third consecutive year, ranked best in Norway.
  • DNB continued to perform well in a number of surveys. In the annual Prospera customer satisfaction survey, DNB Markets came first in almost every category. In a survey carried out by Universum, DNB was ranked the most attractive employer in Norway among business students. In addition, DNB’s trainee programme topped the Career Barometer. DNB was ranked best among Norwegian companies by pension customers, and in the consumer survey Sustainable Brand Index, DNB was best among banks in Norway.
  • Nordea and DNB announced an agreement to combine their operations in Estonia, Latvia and Lithuania, aiming to create a leading bank in the Baltics with strong Nordic roots. The transaction is conditional upon regulatory approvals and other conditions, and is expected to close in the second quarter of 2017.
  • DNB set aside a special salary pool of NOK 17 million to equalise salary differences between men and women in cases where the gap is solely a consequence of gender.
  • DNB launched the concept “Guide to the Internet” to make more people, especially senior citizens, feel confident when using digital banking services and enjoy using the Internet.
  • Vipps for companies was launched, thus making it possible for customers to make payments to companies. Kolonial.no, NSB and Ruter, among others, started to use the app. In addition, DNB and Telenor entered into an agreement on the development and use of Vipps.
  • DNB announced that the bank will adopt the UN sustainability development goals 2030, and that corporate social responsibility and sustainability will be an integral part of the bank’s daily operations.
  • In the wake of the Panama Papers case, the law firm Hjort was engaged to make an external review of DNB’s involvement in the matter. The report was presented in mid-September and concluded that DNB had not violated the law. On the other hand, DNB’s internal guidelines had been breached, and actions have been taken regarding this matter.
  • In mid-August, the Norwegian Labour Inspection Authority published a report showing certain violations of working time regulations on the part of DNB’s sub-supplier of IT services, the Indian Tata Consultancy Services, TCS. TCS has implemented measures to ensure better follow-up of working hours.
  • In a stress test conducted by the European Banking Authority, ESA, DNB was shown to have the greatest resilience to economic crises among the tested banks.
  • Vipps Invoice was launched at the start of November.
  • The NXT Conference was held at DNB’s head office in Oslo. The conference was part of Oslo Innovation Week, a digital and physical meeting place for entrepreneurs and investors to help them make contacts and share networks, knowledge and inspiration. DNB and StartupLab launched NXT Accelerator, a programme to help promising technological startup companies to expand quickly, establish partnerships and create commercial opportunities for both the companies themselves and DNB.
  • DNB Markets was ranked best in Norway in all categories within equity brokerage and research in a survey carried out by Prospera.
  • DNB improved its ranking on the lists of the most attractive employers in Norway, also among employees who have worked for some years. DNB advanced to first and fifth place in the business and IT segments, respectively, in the Universum survey.
  • In consequence of the competitive situation and rising market rates, DNB decided to increase interest rates on home mortgages by up to 0.2 percentage points.
  • As the first Norwegian financial institution, DNB was awarded a rating of A- for its climate work by the Carbon Disclosure Project, CDP.
  • DNB received the Confederation of Vocational Unions’ (YS) equal opportunity award due to its work to equalise salary differences between men and women.
  • It became known that DNB is one of many banks involved in the financing of the construction of a new and controversial oil pipeline in North Dakota in the US. DNB will ensure that the bank can answer for its part of the project financing and may potentially reconsider its exposure in the pipeline project. During the fourth quarter, the Group’s mutual funds sold their holdings in the companies building the pipeline.
  • The Ministry of Finance adopted a new home mortgage regulation. At the same time, it became clear that the Norwegian parliament (Stortinget) supported the government's proposal to introduce a financial activities tax.
  • The Ministry of Finance raised the counter-cyclical buffer requirement from 1.5 to 2.0 per cent with effect from year-end 2017.

The Group ́s vision is to create value for customers, shareholders, employees and society at large. As Norway’s largest bank, DNB plays an important role in many people’s lives. Changes in customer behaviour, regulations and technology affect both DNB and society.

dnb-society
1

The financial services industry is subject to strict regulatory control. Over the past few years, DNB has adapted to a number of new regulations and requirements that go a long way in changing banks’ business models.


 

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2

Digitalisation and technological innovation require secure information processing and privacy protection.


 

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3

DNB wishes to help the healthcare industry gain a central position in Norway, with more companies becoming commercially viable.


 

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4

DNB raises capital from three main sources 1) Shareholders 2) Norwegian and international institutional investors through long-term funding and securities 3) Companies and individuals through deposits, which are a core element of customer operations

5

DNB Markets is Norway’s leading investment firm with a product offering that includes trading in and structuring of financial instruments.


 

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6

Through its start-up pilots, DNB has increased its focus on start-up companies in recent years. In 2016, DNB further strengthened its commitment through the launch of DNB NXT – a meeting place for entrepreneurs and investors.


 

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7

DNB is among the world's leading banks within its international priority areas, especially the energy, shipping and seafood sectors. ¨The Group has a global presence through a number of international offices and offers a full range of corporate and investment services.

8

DNB aims to take the position as the leading renewable energy bank in the Nordic region and is ranked among the 100 most sustainable companies in the world.


 

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9

Vipps has been taken into use by 2.1 million Norwegians, and in the course of 2016, new functionality was developed, such as Vipps Invoice and in-app payment solutions for Ruter, NSB, Elkjøp and Oslo Taxi.


 

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10

Not many people would be able to finance the dream of owning their own home without a bank to support them. DNB’s Home Journey helps home buyers in the buying and/or selling process. DNB Eiendom is Norway’s second largest real estate broker.


 

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11

Without non-life and life insurance it would be difficult to cope with the consequences of accidents and secure one’s closest family members financially. DNB has products for all needs and life phases.

12

The "Guide to the Internet" was launched in 2016. This is DNB’s latest initiative within digital learning and particularly targets the older part of the population. A Valuable Lesson, a free digital learning program on personal finance for school children, has been taken into use by more than 900 schools for the 2016/2017 school year.


 

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13

DNB is among the largest companies on Oslo Børs. Through trading of the share on the stock exchange, capital is raised from investors, which is repaid in the form of returns and dividends.

14

DNB supports sports, culture, charitable organisations and other non-profit causes with significant amounts each year.

Mastering the art of serving the customer and continuing to create good customer experiences so that ideas can be realised, profits generated and jobs created are key to the Group’s operations.

The employees are the Group’s most important resource. In view of the current pace of change in society, promoting adaptability and change capacity is essential if the Group is to have the right competencies for the future.

As a responsible player in society, DNB wishes to contribute to a healthy economy by promoting innovation and restructuring, promoting financial literacy, integrating sustainability considerations in its operations and ensuring openness and transparency in the best interests of the Group and society.