DnB NORD Banka
DnB NORD Banka Q3 2009 financial results

DnB NORD Banka / 

22.10.2009 

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In the first three quarters of 2009, the unaudited profit before provisions and
taxes reached LVL 24 million, 11% higher than in the respective period of 2008.
DnB NORD Banka focused on increasing operational income and overall efficiency
of the bank, as well as working closely with customers to ensure the quality of
the current loan portfolio. 

The deposit portfolio of DnB NORD Banka at the end of the three quarter of 2009
was LVL 434 million. 

Given the continuing challenging economic situation in Latvia, the bank
continued to maintain a strict risk policy. The net provisions for the third
quarter constituted LVL 26.8 million, with total provisions for first nine
months of 2009 standing at LVL 104.6 million. The loss for the third quarter of
2009 was LVL 15.7 million after provisions and taxes; the loss for the first
nine months of the year amounted to LVL 68.5 million after provisions and
taxes. 

During the first three quarters of 2009 the bank continued strengthening its
capital base. In the first half of 2009 the bank increased its capital base by
almost LVL 50 million, and in the end of September the bank increased 1st tier
capital by additional LVL 21.2 million. DnB NORD Banka met all requirements of
Bank of Latvia and maintained sound capital and liquidity positions. 

DnB NORD Banka is a part of DnB NORD financial group, a joint venture owned 51%
Norway's largest bank DnB NOR (Standard & Poor's long term AA- rating) and 49%
by North Germany's largest bank NORD/LB (FitchRatings long term A rating). 

News Source: NASDAQ OMX



22.10.2009  Financial News transmitted by DGAP

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Language:     English
Company:      DnB NORD Banka
              
               
              Latvia
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         LV0000101046
WKN:          
 
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