"We have proven that our target of 12 per cent ROE is both ambitious and realistic. DNB's plan is working, in terms of capital efficiency, cost control and income generation. We are now raising the bar for our cost reduction ambitions towards 2017, from a cost/income ratio below 45 per cent to approximately 40 per cent," says CEO of DNB, Rune Bjerke.

DNB expects to reach the capital requirement of 13 per cent determined by Norwegian regulators in 2016, and DNB has set a minimum of 14 per cent as a new capital level. DNB's ambition is to gradually increase the dividend payout ratio from the current minimum 25 per cent, starting in 2014. The new long-term ambition, once the capital level is reached, is to pay out above 50 per cent.

"The Norwegian economy has remained strong throughout the cycle and will not be dramatically hit by a prolonged period of low oil prices. Petroleum investments will remain high also in the future, but will decline from today's unprecedented high level. Our credit portfolio is robust, as shown by the latest EBA stress test, ranking DNB as one of the most solid banks in Europe," says Rune Bjerke.

DNB's financial targets towards 2017:

Return on equity (ROE):         Above 12 %

CET1 capital ratio:                 Minimum 14 % as capital level from 2016

Cost/income ratio:                 Approximately 40 % for 2017


 For more information:

Per Sagbakken, head of Investor Relations, mobile +47 90 66 11 59

Thomas Midteide, Group EVP Corporate Communications, mobile +47 962 32 017

See the presentation from the CMD on webcast here from 12.30 am GMT.

The presentations from the event are attached or available on www.dnb.no/ir

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