DnB NORD Banka
DnB NORD Banka Q1 2009 financial results

DnB NORD Banka / 

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In the 1st quarter of 2009 DnB NORD Banka continued its development, paying
close attention to the challenging macro economic situation facing Latvia, and
focusing on promoting efficiency, working closely with customers to ensure the
quality of the current loan portfolio and increasing operational income. 

Unaudited profit before provisions and taxes for the 1st quarter of 2009 was
LVL 8.3 million. 

Given the challenging economic situation of Latvia, the bank continued to
maintain a strict risk policy to ensure long-term stability. DnB NORD Banka
made provisions for unsecured credits amounting to LVL 16.9 million. The loss
for the first three months of the year amounted to LVL 8.6 million after
provisions. 

Assets stood at LVL 1.9 billion at the end of March 2009, an increase of 6.1%
compared to the respective period in 2008. 

DnB NORD Lzings, the subsidiary of DnB NORD Banka, maintained its 3rd position
among the biggest leasing companies of Latvia. The assets of DnB NORD Banka's
investment management company, DnB NORD Fondi, increased by LVL 6.6 million in
comparison with the beginning of the year, to stand at LVL 34.3 million at the
end of the first quarter 2009. 

At the end of April 2009, DnB NORD Banka strengthened its capital base EUR 20
million through an additional subordinated loan by DnB NORD A/S. 

News Source: NASDAQ OMX

08.05.2009  Financial News transmitted by DGAP
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Language:     English
Issuer:       DnB NORD Banka
              
               
              Latvia
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         LV0000101046
WKN:          
 
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