DnB NORD Banka
LVL 35 million invested in the fixed capital of DnB NORD Banka

DnB NORD Banka / 

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This week was completed the first subscription round to the share issue of DnB
NORD Banka tallying up to 35.2 million shares. As their par value amounts to
one lat per share, the Bank's fixed capital as the result of the share issue
will be increased up to LVL 134.4 million. 

The share issue following the respective resolutions of the shareholders'
meeting and Financial and Capital Market Commission was launched by DnB NORD
Banka this June by offering pre-emption rights to the existing Bank
shareholders. The principal shareholder of DnB NORD Banka - Bank DnB NORD A/S
in the course of the first round of subscription subscribed to all shares the
shareholder currently was entitled to subscribe to, i.e. more than 99.9% of the
total number of shares of the new issue. The existing shareholders also have
expressed their wish to subscribe to the remaining 21 thousand of shares in the
course of the second subscription round that is scheduled to end on 21st
August. 

Along with the share issue DnB NORD Banka in April has attracted subordinated
capital in amount of 14 million lats, thus reinforcing the Bank's capital base
in compliance with the existing economic situation. 

The CEO of DnB NORD Banka Andris Ozoli?š says: „Willingness of the shareholders
of DnB NORD Banka to subscribe to the new share issue and expand the Bank's
capital under the present strained circumstances without any doubt implies
sustained strategic commitment to development of the Bank's operational
activities in this region and ensuring its stability and reliability in the
eyes of the customers.” 
In H1 2009 operational income of DnB NORD Banka amounted to LVL 17.3 million,
which is by 15% over the results for the respective period of the precedent
year. In turn, the deposit portfolio of DnB NORD Banka during the course of the
first six months of the year has grown by 3.5% as compared to the beginning of
the year and currently amounts to 444 million lats. 
Having assessed the present economic situation in Latvia as well in line with
the stringent risk policy imposed by DnB NORD Group, DnB NORD Banka has put
particular emphasis on long-term stability and proactively made provisions for
doubtful loans. Net amount of the provisions by the end of June 2009 tallied up
to 77.2 million lats. 
During the first half of 2009 number of customers of DnB NORD Banka
continuously augmented: number of legal entities over 6 months grew by more
than 400 companies, and number of private individuals - by more than 4,200 new
customers. 

DnB NORD Banka is one the leading financial institutions in Latvia, awarded in
2008 as the bank of the year in Latvia by the prestigious international
„Euromoney” journal, while in early 2009 one of its indirect shareholders DnB
NOR (Norway) was ranked 34th among the safest world banks by „Global Finance”
journal. 

News Source: NASDAQ OMX

31.07.2009  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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