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Supplementary Information for Investors and Analysts

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Supplementary Information for Investors and Analysts Supplementary information for Investors and Analysts 2001 (Preliminary and unaudited) Investor Relations Chief Executive Officer Svein Aaser For further information, please contact Tom Grøndahl, Chief Financial Officer [email protected] +47 22482922 Per Sagbakken, Head of Investor Relations* [email protected] +47 22482072 Jan Erik Gjerland, Investor Relations [email protected] +47 22949969 Halfdan Bakøy, Group Financial Reporting [email protected] +47 22481071 Anne Johansen, Secretary, Investor Relations [email protected] +47 22481749 *Andrew Sayer until 1 March 2002 Address DnB Holding ASA, Stranden 21, N-0021 Oslo Visiting address: Stranden 21, Aker Brygge, Oslo e-mail Investor Relations: [email protected] Telefax Investor Relations: +47 22482035 DnB switchboard: +47 22481050 Information on the Internet DnB’s Investor Relations page www.dnb.no/ir DnB’s home page www.dnb.no Hugin www.huginonline.no/DNB/ Financial calendar 2002 First quarter 3 May Second quarter 7August Third quarter 31 October Annual general meeting 25 April Ex-dividend date 26 April Payment of dividend May Supplementary information year-end 2001 Contents Page 1. DnB - an overview 1 Financial highlights................................................................................... 2 DnB - Norway's leading financial services group ..................................... 3 Debt ratings............................................................................................... 3 2. Financial results DnB Group 5 Financial highlights................................................................................... 6 Profit and loss accounts............................................................................. 7 Net interest income.................................................................................... 8 Operating income .................................................................................... 10 Profit from Vital ...................................................................................... 12 Net commissions and fees on banking services....................................... 13 Net gain on financial instruments............................................................ 14 Sundry operating income ........................................................................ 16 Operating expenses..................................................................................17 Losses and reversals on loans and guarantees......................................... 20 Asset quality............................................................................................ 21 Total assets owned or managed by the DnB Group ................................ 22 Customer savings.................................................................................... 24 Capital adequacy and Taxes.................................................................... 25 Financial results DnB Group................................................................... 26 DnB Group 1997-2001............................................................................ 27 3. DnB Group and business areas 29 Group strategy......................................................................................... 30 Legal structure......................................................................................... 31 Group structure........................................................................................ 32 Business areas..........................................................................................33 - Asset management and Life insurance............................................. 35 - Retail banking.................................................................................. 42 - Corporate banking............................................................................ 44 - Capital markets ................................................................................ 51 Financial, payment and group services ................................................... 54 DnB on the Internet ................................................................................. 55 e-commerce initiatives.............................................................................56 4. Shareholder information 57 Equity-related data .................................................................................58 Shareholder structure............................................................................... 59 5. The Norwegian economy 61 DnB Group Supplementary information year-end 2001 DnB Group Section 1 DnB - an overview DnB Group 1 Supplementary information year-end 2001 1. DnB - an overview Financial highlights Sound results in a demanding year • Ordinary pre-tax operating profits before losses: NOK 5 196 million (5 012) • Annual profits: NOK 4 100 million (4 018) • Earnings per share: NOK 5.29 (5.16) • Return on equity: 15.8 per cent (17.0) • Total combined assets: NOK 460 billion (445) • Core capital ratio: 8.8 per cent (7.6) • Proposed dividend per share: NOK 2.40 (2.25) (comparable figures for 2000 in parentheses) 2 DnB Group Supplementary information year-end 2001 1. DnB - an overview DnB - Norway's leading financial services group Asset management and life insurance As at 31 December 2001: • Total assets of Vital Forsikring and Vital Link NOK 72.0 billion • Assets in mutual funds and under discretionary NOK 37.5 billion management Banking operations • Total assets NOK 358.0 billion • Gross lending NOK 279.1 billion • Customer deposits NOK 191.6 billion Customer base • Serving more than 1.85 million retail customers throughout Norway with various levels of activity • More than 100 000 business customers • Some 640 000 individuals are insured through Vital • About 402 000 users of DnB´s electronic banking services Distribution network • 126 domestic DnB branches, of which • About 430 post office counters 1) 58 fully automated and • About 600 post office in-store outlets 1) 11 regional centres (incl. Oslo) • About 2 400 rural postmen 1) • 6 international branches • 63 Postbanken Eiendomsmegling sales offices • 4 international representative offices (franchises) • 40 Postbanken sales outlets • 45 DnB Eiendom sales offices • Internet banking (all located in DnB branches) • Electronic banking • 20 Vital sales offices • Telephone banking • 27 Vital agent agreements • SMS/WAP banking • Online equities trading 1) Provided by Norway Post (the Norwegian postal system) Agreement with Norway Post Den norske Bank ASA and Norway Post have a master agreement relating to the distribution of financial services through the postal network, which is effective until 31 December 2005. This agreement is an extension of the former agreement between Norway Post and Postbanken. The agreement is based on transaction-specific prices and a joint aim to increase the number of financial services distributed through the postal network. Debt ratings from international rating agencies Long term Short term Moody's A1 P1 Standard & Poor's A A1 DnB Group 3 Supplementary information year-end 2001 1. DnB - an overview 4 DnB Group Section 2 Financial results DnB Group DnB Group 5 Supplementary information year-end 2001 2. Financial results DnB Group Financial highlights Key financials 4Q01 3Q01 2Q01 1Q01 4Q00 2001 2000 Pre-tax operating profit before losses (NOK million) 1 471 975 1 406 1 345 1 311 5 196 5 012 Pre-tax operating profit (NOK million) 1 224 496 1 514 1 453 1 393 4 687 5 248 Net profit for the period (NOK million) 903 372 1 676 1 149 1 161 4 100 4 018 Earnings per share (NOK) 1.17 0.48 2.16 1.48 1.49 5.29 5.16 Earnings per share ex. goodwill (NOK) 1.21 0.53 2.21 1.52 1.53 5.47 5.33 Return on equity (Per cent) 13.2 5.6 26.0 18.8 18.5 15.8 17.0 Combined assets (NOK billion) 460 465 483 463 445 460 445 Core capital ratio at end of period 1) (Per cent) 8.8 8.6 8.6 7.3 7.5 8.8 7.5 Group income including premium income (NOK million) 22 226 20 126 1) Including 50 per cent of profit for the period, except year-end figures Combined assets NOK billion 460 445 407 358 344 319 313 300 275 246 253 228 227 183 192 169 171 175 108 97 1) 1) 31 Dec. 1997 31 Dec. 1998 31 Dec. 1999 31 Dec. 2000 31 Dec. 2001 Deposits from customers Net lending to customers Total DnB Group assets Combined assets owned or managed 1) Figures up to the end of 1998 do not include Postbanken 6 DnB Group Supplementary information year-end 2001 2. Financial results DnB Group Profit and loss accounts Profit and loss accounts 4Q01 3Q01 2Q01 1Q01 4Q00 2001 2000 Amounts in NOK million Net interest income 2 1582 0131 9591 8691 9287 9997 221 Net other ordinary operating income 1 403 949 1 456 1 488 1 601 5 296 5 736 Ordinary operating expenses 2 027 2 000 2 010 2 015 2 154 8 053 7 879 Ordinary operating profit 1 533 961 1 405 1 342 1 376 5 242 5 078 Gains on the sale of fixed assets 14 14 1 1 1 30 15 Other expenses 1) 77 0 0 (2) 65 75 81 Pre-tax operating profit before losses 1 471 975 1 406 1 345 1 311 5 196 5 012 Net losses/(reversals) on loans etc. 245 128 (101) (94) (85) 178 (241) Net gain/(loss) on long-term securities (1) (351) 714 (3) (332) (5) Pre-tax operating profit 1 224 496 1 514 1 453 1 393 4 687 5 248 Taxes 321 124 (162) 304 232 587 1 230 Profit for the period 903 372 1 676 1 149 1 161 4 100 4 018 1) Allocations to the DnB Employees Fund, restructuring, and losses on fixed assets Pre-tax operating profit before losses NOK million 1 471 1 428 1 406 1 311 1 008 975 808 757 581 264 1) 1) 1) 1) 1) 1) 1) 1Q98 2Q98 3Q98 4Q98 1Q99 2Q99 3Q99 4Q99 1Q00 2Q00
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