DNB shares fall on Q2 NII, CET1 miss
BUZZ-DNB shares fall on Q2 NII, CET1 miss ** Shares in DNB DNB.OL slip around 3% after the Norwegian bank's net Q2 net interest income (NII), CET1 miss expectations
** It posted Q2 NII at NOK 15.13 billion ($1.55 billion), below company-provided consensus, where the result was seen at NOK 15.40 billion
** "Driver of the decline in was negative impact on spreads which was partly offset by volumes and an extra interest
day," says Jefferies, addressing the NII miss
** The broker adds that lending spreads were down 22 basis points sequentially impacted by the notice periods
** The bank's Q2 Common Equity Tier 1 (CET1) capital ratio, a key measure of financial strength, was 17.4%, 60 basis points lower than what consensus expected
** Separately, DNB announced a share buyback programme of up to 1% of its shares
** The stock is among bottom performers on the pan-European STOXX 600 index .STOXX
($1 = 9.7570 Norwegian crowns)
(Reporting by Marta Frackowiak)