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4-Traders Homepage  >  Equities  >  Oslo Bors  >  DNB ASA    DNB   NO0010031479

DNB ASA (DNB)

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DNB ASA : DNB Lifts Dividend as Earnings Beat Views

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02/07/2013 | 07:57am CET

Norwegian bank DNB ASA (DNB.OS) Thursday proposed a raised dividend for 2012 compared with the previous year, and posted a smaller-than-expected drop in fourth-quarter net profit as rising net interest income partly compensated for widening loan losses.

   MAIN FACTS: 

-Fourth-quarter net profit fell to NOK3.81 billion from NOK4.09 billion a year earlier, beating analysts' expectations for NOK3.28 billion.

-Loan losses widened to NOK1.19 billion from NOK926 million against expectations for NOK1.07 billion.

-Net interest income rose to NOK7.10 billion from NOK6.79 billion against expectations for NOK6.97 billion.

-DNB proposes a dividend per share for 2012 of NOK2.10, up from NOK2 for the previous year.

-"In spite of a weak international economic trend, the Norwegian economy is expected to remain strong," the bank said. "Coupled with strict cost control, this will provide the basis for a healthy profit trend in the Group's Norwegian operations," it added.

-Shares closed Wednesday at NOK75.80.

Write to Gustav Sandstrom at gustav.sandstrom@dowjones.com

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Visit http://djnweurope.ar.wilink.com/?ticker=NO0010031479 or call +44 (0)208 391 6028

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Financials ( NOK)
Sales 2016 52 041 M
EBIT 2016 30 566 M
Net income 2016 17 780 M
Debt 2016 -
Yield 2016 3,84%
P/E ratio 2016 12,53
P/E ratio 2017 12,21
Capi. / Sales 2016 4,25x
Capi. / Sales 2017 4,26x
Capitalization 221 191 M
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Mean consensus HOLD
Number of Analysts 28
Average target price 139  NOK
Spread / Average Target 2,0%
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Managers
NameTitle
Rune Bjerke Group Chief Executive Officer
Anne Carine Tanum Chairman
Liv Fiksdahl Group EVP-Information Technology & Operations
Bjørn Erik Næss Chief Financial Officer
Tore Olaf Rimmereid Vice Chairman
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