DNB ASA logo

DNB - DNB ASA News Story

NOK182.2 -1.0  -0.6%

Last Trade - 10/05/21

Sector
Financials
Size
Large Cap
Market Cap £24.33bn
Enterprise Value £56.02bn
Revenue £4.98bn
Position in Universe 30th / 1835

Norway's DNB announces share buyback as Q3 tops forecast

Thu 24th October, 2019 6:37am
OSLO, Oct 24 (Reuters) - Norway's DNB  DNB.OL  said on
Thursday it will begin a new share buy-back program as it
reported third-quarter results above expectations.
    Norway's biggest bank earned a net profit of 6.06 billion
Norwegian crowns ($664.2 million) for the July-September period,
up from 5.67 billion last year, beating the average forecast of
5.46 billion in a Refinitiv poll of analysts.
    DNB had warned in September that it's third-quarter result
would be hit by a 1 billion crowns loan loss provision related
to one of the bank's customers.  urn:newsml:reuters.com:*:nFWN26FF096
    Norwegian business daily Finansavisen reported at the time
that the loss stemmed from the collapse of tour operator Thomas
Cook, although DNB has declined to comment on the origins of the
provision.

($1 = 9.1240 Norwegian crowns)

 (Reporting by Victoria Klesty, editing by Terje Solsvik)
 ((victoria.klesty@thomsonreuters.com; +47 2331 6592; Reuters
Messaging: victoria.klesty.thomsonreuters.com@reuters.net))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.