Definitions

DnB_NOR

DnB NOR

DnB NOR ASA is Norway's largest financial services group with total assets of more than NOK 1.8 trillion. The Group includes brands such as DnB NOR, Vital, Nordlandsbanken, Cresco, Postbanken, DnB NORD and Carlson. DnB NOR's head office is located in Oslo.

The two largest owners of DnB NOR are the Norwegian Ministry of Trade and Industry (34.0%) and Sparebankstiftelsen DnB NOR (10.95%). The latter was created as a foundation with the sole purpose of owning part of the company. It was created when Gjensidige NOR was made a public limited company to insure that the companies' customers retained partial ownership of the company. The foundation also can give up to 25% of its received dividend as gifts to charity.

Operations

In Norway DnB NOR Bank has bank offices throughout the country. Though both Postbanken and Nordlandsbanken are part of the company, they retain their own brands and offices. Postbanken offers its services through the post offices while Nordlandsbanken has its offices exclusively in the county of Nordland.

The DnB NOR Bank Group is the largest enitity in the DnB NOR 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 NOR Markets, the finance company Cresco,the insurance company Vital who is a provider of life insurance products and pension savings, the real estate agency DnB NOR Eiendom and DnB NOR Asset Management, who operates as a fund manager for institutional clients in Norway and Sweden. DnB NOR has the largest customer base in the Norwegian financial market and is a leader in most domestic market segments. In Norway, DnB NOR has more than 2.2 million retail customers and more than 198,000 corporate clients, with the bank represented at 200 locations.

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 13 branches and representative offices, including Helsinki (Finland), Copenhagen (Denmark), Hamburg (Germany), Luxemburg, London (United Kingdom), New York (United States), Shanghai (China) and Singapore. The company also has multiple offices in Sweden.

In Denmark, Finland, Poland, Estonia, Latvia and Lithuania DnB NOR markets itself as DnB NORD in a joint venture with the German bank Norddeutsche Landesbank with DnB NOR owning 51%.

History

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 current name stems from 2003, when the two banks Den norske Bank (DnB) and Gjensidige NOR merged in 2003.

See also

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External links

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