DNB must see the results deteriorate in the third quarter after taking lånetap in milliardklassen.
Storbanken had a result before tax of 5,21 billion, against 8,52 billion in the same period of last year, while net interest income, i.e. the difference between what the bank borrows in and out, was weakened to 8,48 billion from 8,98 billion.
the decline in interest income explains DNB with reduced lånevolumer among larger corporate customers, but also the lower lending margins in the retail market draws down.
had previously analysts set themselves to a weakening of the entire line. They expected a profit before tax of 5,15 billion of net interest income on 8,61 billion, according to SME Direkt for TDN Finans.
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Take milliardtap
at the same time experiencing DNB rising lånetap. Write-downs on loans and guarantees amounted to 2,18 billion, while the bank at the same time last year, however, the reversal of net 392 million on nedskrivningsposten.
The advance was expected a lånetap on 2,09 billion.
As in the first half of the year is the increased write-downs on loans among larger corporate customers, the main reason for the decrease in profit, ” explains DNB.
It is storkundene within oil related industries and shipping, which helps to draw the writings. The bank took both individual write-downs and gruppenedskrivninger on loans.
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Spotting brighter times
the Forecast about the size of the losses in the time ahead emphasized.
– In 2016 they will total writedowns on loans to be higher than 6 billion. DNB keeps still fixed on his estimates about 18 billion total for 2016-2018. It is due to the fact that the individual losses according to our forecasts would stabilize and that the need for gruppenedskrivninger probably will slow in 2017 and 2018, ” says DNB ceo Rune Bjerke in a comment.
oil prices have stabilized and increased somewhat beyond in the 2016, and the development of Johan Sverdup field helps to keep petroleum investment up. We believe in all that it does look a little brighter for the Norwegian economy from 2017 and beyond, he continues.
Profitability under the goal
The weakened profitability will also appear in other figures. The return on equity was 8.5 per cent, compared to 14,7 per cent in the last year. It is significantly lower than the DNB en the general aim of a return on equity of over 12 per cent.
at the same time, DNB built up capital ratios. The so-called pure capital adequacy ratio was at 15,7 per cent measured in terms of the transitional arrangements, compared to 13.1 per cent the year before. The bank has thus reached kapitalmålet for 2017.
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