DNB ASA(formerlyDnB NOR ASA) isNorway's largestfinancial servicesgroup, with total combined assets of more thanNOK1.9 trillion and a market capitalisationNOK164 billion as of 20 May 2016. DNB's head office is located inOslo.
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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 | Bankingandinsurance |
| Revenue |  NOK53.993 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 |
The two largest owners of DNB are theNorwegian Ministry of Trade and Industry(34.0%) andSparebankstiftelsen DNB(10.0%). The latter was created as afoundationwith the sole purpose of owning a part of the company. It was created whenGjensidige NORwas made apublic limited companyto ensure that the company's customers retained partial ownership of the company. The foundation can also give up to 25% of its receiveddividendas gifts to charity.
Operations
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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 foremostshippingbanks and a major international player in the energy sector. It has an international network of 27 branches and representative offices, includingHelsinki(Finland),Copenhagen(Denmark),Hamburg(Germany),Luxembourg,London(United Kingdom),New York(United States),Houston(United States),Rio de Janeiro(Brazil),Santiago(Chile),Shanghai(China) andSingapore.The company also has multiple offices inSweden.
InDenmark,Finland,Poland,Estonia,LatviaandLithuaniaDNB used to market itself asDnB NORDin what was initially a joint venture with the German bankNorddeutsche Landesbankwith 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.
History
editThe history of the group goes back to 1822, with the establishment ofChristiania Sparebank.The present corporation consists of mergers betweenChristiania Sparebank(1822),Gjensidige(1847),Bergens Privatbank(1855),Den norske Creditbank(1857),Fellesbanken(1920),Bergens Kreditbank(1928),Postbanken,VitalandNordlandsbanken.The name DnB NOR was adopted in 2003, when the two banksDen norske Bank(DnB) andGjensidige NORwere merged. The company changed its legal name and brand to DNB in November 2011.[4]
In August 2017, DNB andNordeacombined their operations in Estonia, Latvia, and Lithuania to createLuminor Bank.[5]
See also
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- List of oldest companies,which includes Gjensidige NOR
References
edit- ^abcde"Annual Results 2015"(PDF).DNB.Retrieved4 April2016.
- ^"Shareholders - DNB".www.dnb.no.Retrieved2016-12-27.
- ^"Finn ditt DNB kontor i Norge".DNB.RetrievedAugust 28,2020.
- ^"DNB's history".About us.DNB.Retrieved14 December2015.
- ^ "European Commission clears Blackstone to buy Luminor".ERR.BNS.2019-01-22.Retrieved2019-02-06.
External links
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