Native name | DNB Bank ASA |
---|---|
Company type | Allmennaksjeselskap |
OSE: DNB | |
Industry | Financial services |
Founded | 1822 |
Headquarters | Oslo, Norway |
Area served | Northern-Europe |
Key people | Kjerstin Braathen (CEO), Olaug Svarva (Chairman) |
Products | Banking and insurance |
Revenue | NOK 53.993 billion (2015) [1] |
NOK 24.762 billion (2015) [1] | |
Total assets | NOK 2.599 trillion (end 2015) [1] |
Total equity | NOK 190.078 billion (end 2015) [1] |
Owner | Norwegian government (34 %) Sparebankstiftelsen DNB (9 %) As of June 2016 [update] [2] |
Number of employees | 11,047 (average, 2015) [1] |
Subsidiaries | Cresco |
Website | www.dnb.no |
DNB ASA (formerly DnB NOR ASA) is Norway's largest financial services group, with total combined assets of more than NOK 1.9 trillion and a market capitalisation NOK 164 billion as of 20 May 2016. DNB's head office is located in Oslo.
The two largest owners of DNB are the Norwegian Ministry of Trade and Industry (34.0%) and Sparebankstiftelsen DNB (10.0%). The latter was created as a foundation with the sole purpose of owning a part of the company. It was created when Gjensidige NOR was made a public limited company to ensure that the company's customers retained partial ownership of the company. The foundation can also give up to 25% of its received dividend as gifts to charity.
The DNB Bank Group is the largest entity in the DNB Group and Norway's largest bank, offering services to the corporate, retail, and securities markets and the public sector. Domestically, the group has an investment bank, DNB Markets, the finance company Cresco, the real estate agency DNB Eiendom and DNB Asset Management, which operates as a fund manager for institutional clients in Norway and Sweden. DNB has the largest customer base in the Norwegian financial market. In Norway, DNB has more than 2.3 million retail customers and more than 200,000 corporate clients, with 61 branch offices. [3]
The group's activities are primarily focused on Norway; however, it is one of the world's foremost shipping banks and a major international player in the energy sector. It has an international network of 27 branches and representative offices, including Helsinki (Finland), Copenhagen (Denmark), Hamburg (Germany), Luxembourg, London (United Kingdom), New York (United States), Houston (United States), Rio de Janeiro (Brazil), Santiago (Chile), Shanghai (China) and Singapore. The company also has multiple offices in Sweden.
In Denmark, Finland, Poland, Estonia, Latvia and Lithuania DNB used to market itself as DnB NORD in what was initially a joint venture with the German bank Norddeutsche Landesbank with DNB owning a full stake since December 23, 2010. On November 11, 2011, the bank was rebranded and adopted the common DNB brand throughout these countries. In these countries, DNB has 930,000 customers and 163 branch offices.
The history of the group goes back to 1822, with the establishment of Christiania Sparebank. The present corporation consists of mergers between Christiania Sparebank (1822), Gjensidige (1847), Bergens Privatbank (1855), Den norske Creditbank (1857), Fellesbanken (1920), Bergens Kreditbank (1928), Postbanken, Vital and Nordlandsbanken. The name DnB NOR was adopted in 2003, when the two banks Den norske Bank (DnB) and Gjensidige NOR were merged. The company changed its legal name and brand to DNB in November 2011. [4]
In August 2017, DNB and Nordea combined their operations in Estonia, Latvia, and Lithuania to create Luminor Bank. [5]
Nordea Bank Abp, commonly referred to as Nordea, is a Nordic financial services group operating in northern Europe with headquarters in Helsinki, Finland. The name is a blend of the words "Nordic" and "idea". The bank is the result of the successive mergers and acquisitions of the Finnish, Swedish, Danish, and Norwegian banks of Merita Bank, Nordbanken, Unidanmark, and Christiania Bank og Kreditkasse that took place between 1997 and 2001. The Nordic countries are considered Nordea's home market, having finalised the sales of their Polish bank in 2014, Baltic operations in 2019 and completed the exit from Russia in early 2022 following a 2019 decision to close the business there. Nordea is listed on Nasdaq Nordic exchanges in Helsinki, Copenhagen, and Stockholm and Nordea ADR is listed in the US.
Oslo Stock Exchange is a stock exchange within the Nordic countries and offers Norway's only regulated markets for securities trading today. The stock exchange offers a full product range including equities, derivatives and fixed income instruments.
DNB may refer to:
Sparebankstiftelsen DNB is a Norwegian foundation. The foundation gives financial contributions to a wide range of charitable causes, and is the second largest shareholder of the financial services company DNB. The foundation's capital is a result of accumulated profits from the former savings banks which are now part of DNB.
Postbanken was a Norwegian postal savings bank. The bank offered its services through the Norwegian post office. It was first merged into DNB ASA as a subsidiary, and then dissolved in 2011.
DNB A/S The Bank’s head office is located in Copenhagen, while the Bank has operations in Estonia, Latvia, Lithuania. The latter three operate as subsidiaries of the bank. Bank DnB NORD Group has approx. 3,100 employees, 930,000 customers and a consolidated balance sheet of approx. EUR 10.0 billion.
Den norske Bank or DnB was a Norwegian bank that existed between 1990 and 2003 when it merged with Gjensidige NOR to form DnB NOR. The bank's headquarters were in Bergen, Norway.
Vital Forsikring ASA, branded as Vital, is Norway's largest life insurance and pension insurance company, and part of the DnB NOR Group. Though Vital has roots back to 1847, it was created in its present form by a merger between Vital and Gjensidige NOR's life insurance section after the mother companies merged in 2003. Vital has its headquarters in Bergen, Norway and has total assets of 200 billion kr.
Gjensidige NOR was a Norwegian bank and insurance company that was in existence between 1999 and 2003. The company was created when the two savings banks Sparebanken NOR (bank) and Gjensidige (insurance) were merged in 1999. In 2002 Norwegian savings banks were allowed to become public limited company and was listed on the Oslo Stock Exchange. In 2003 the company was merged with Den norske Bank to form DnB NOR, while the original insurance company Gjensidige was demerged and again became a separate company in 2005.
Union Bank of Norway branded as Sparebanken NOR was Norway's largest savings bank between 1990 and 1999. The bank was created as a merger between Sparebanken ABC and four other regional savings banks. The new bank had its headquarters in Oslo and was in existence until 1999 when it merged with Gjensidige to form Gjensidige NOR. Today the bank is part of DnB NOR.
Sparebanken ABC, sometimes branded as ABC Bank, was a Norwegian savings bank based in Oslo, in existence between 1985 and 1990. The bank was a merger between Sparebanken Oslo/Akershus as Christiania Sparebank) and Fellesbanken. The bank lasted until 1990 when it merged with four other savings banks in Eastern Norway to create Sparebanken NOR. The bank is now part of DnB NOR after Sparebanken NOR merged with Gjensidige to create Gjensidige NOR in 1999 and Gjensidige NOR merged with Den norske Bank in 2003 to create DnB NOR.
Gjensidige Forsikring ASA is a Norwegian insurance company. The company traces its roots back to 1816 when a fire mutual was founded as Land Gjensidige Brandkasse in what is today Innlandet county. Gjensidige demutualised and listed on the Oslo Stock Exchange in December 2010. The firm, headquartered in Oslo, has a market share of some 26% (2021) in the Norwegian insurance market. The company has 36 branch offices in Norway, not including affiliated fire mutuals, and 1 million customers. Gjensidige has subsidiaries in Denmark, Sweden and The Baltics.
SpareBank 1 SMN is a Norwegian savings bank based in Trøndelag.
SpareBank 1 Nord-Norge is a Norwegian savings bank. The bank has 90 branch offices in Nordland, Tromsø, Finnmark and Svalbard and a head office in Tromsø. It has 250,000 private and 40,000 institutional customers with total assets of NOK 48 billion. It is a founding member of the bank alliance SpareBank 1, with a 19.5% ownership.
Sparebank is a type of Norwegian savings bank without external owners. The Norwegian sparebanks are a separate type of juridical entity that differ from commercial banks and are more similar to cooperative banks. As of 2022, there were a total of 123 savings banks in Norway.
Cooperatives of Norway have been created to represent the interest of either customers or suppliers. Areas with cooperatives include retailing, food manufacturing, banking and insurance. Most cooperatives are registered as BA entities.
Olav Hytta is a Norwegian businessperson.
Gunn Wærsted is a Norwegian businessperson, with prominent positions in finance and banking.
Sparebanken Sogn og Fjordane (SSF) is the largest bank in the county of Sogn og Fjordane, with total assets of NOK 32 billion and 310 employees. The bank has 23 branches in the county and is present in 21 of the county's 26 municipalities. It also has a branch in Bergen. The head office is located in Førde in Sunnfjord.
Luminor Bank AS is a bank headquartered in Tallinn, Estonia, with branches in Latvia and Lithuania. As of 2019 it was the third-largest bank in the Baltics, with a deposit market share of 16% and lending market share of 22%. In June 2024, it was reported that both OTP Bank and UniCredit were bidding to acquire control of Luminor from the Blackstone Group.