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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 3rd quarter 2001 (Unaudited) Investor Relations Chief Executive Officer Svein Aaser For further information, please contact Tom Grøndahl, Chief Financial Officer [email protected] +47 22482922 Andrew Sayer, Head of Investor Relations [email protected] +47 22481167 +44 20 76216005 Jan Erik Gjerland, Investor Relations [email protected] +47 22949969 Bjørn Brynildsen, Group Financial Reporting [email protected] +47 22482370 Janne Næss, Group Financial Reporting [email protected] +47 22481084 Halfdan Bakøy, Group Financial Reporting [email protected] +47 22481071 Anne Johansen, Secretary, Investor Relations [email protected] +47 22481749 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 home page www.dnb.no DnB's Investor Relations page www.dnb.no/ir Hugin www.huginonline.no/DNB/ Financial calendar 2002 Year end 2001 14 February First quarter 3 May Second quarter 7 August Third quarter 31 October Annual general meeting 25 April Ex-dividend date 26 April Payment of dividend May Supplementary information 3rd quarter 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 1996-2000 ............................................................................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.................................................................................50 Financial, payment and group services....................................................52 DnB on the Internet .................................................................................54 e-commerce initiatives.............................................................................55 4. Shareholder information 57 Equity-related data ..................................................................................58 Shareholder structure...............................................................................59 5. The Norwegian economy 61 Supplementary information 3rd quarter 2001 Section 1 DnB - an overview 1 Supplementary information 3rd quarter 2001 1. DnB - an overview Financial highlights A special quarter • Sound operating performance - Rise in net interest income - Stable cost levels - Sound credit quality - Healthy profit trend in DnB Markets • However, the third quarter reflects turbulent financial markets - Fall in share prices - Uncertainty regarding a particular commitment - Write-down on Storebrand investment • Nonetheless: Profits for the year to date of NOK 3.2 billion, up from NOK 2.9 billion last year DnB Group – first three quarters • Pre-tax operating profit before losses: NOK 3 726 million (3 701) • Earnings per share: NOK 4.12 (3.67) • Return on equity: 16.7 per cent (16.5) • Total combined assets: NOK 465 billion • Core capital ratio: 8.6 per cent (comparable figures for 2000 in parentheses) 2 Supplementary information 3rd quarter 2001 1. DnB - an overview DnB - Norway's leading financial services group Asset management and life insurance As at 30 September 2001: • Total assets of Vital Forsikring and Vital Link NOK 68.3 billion • Assets in mutual funds and under discretionary management NOK 35.2 billion Banking operations • Total assets NOK 368.4 billion • Gross lending NOK 274.9 billion • Customer deposits NOK 183.1 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 Distribution network • 125 domestic DnB branches, of which • 655 post office counters 1) 58 fully automated and • 721 post office in-store outlets 1) 11 regional centres (incl. Oslo) • 2 400 rural postmen 1) • 6 international branches • 63 Postbanken Eiendomsmegling sales offices • 4 international representative offices (franchises) • 40 Postbanken sales outlets • 44 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 3 Supplementary information 3rd quarter 2001 1. DnB - an overview 4 Section 2 Financial results DnB Group 5 Supplementary information 3rd quarter 2001 2. Financial results DnB Group Financial highlights Key financials Jan.-Sept. Jan.-Sept. 3Q01 2Q01 1Q01 4Q00 3Q00 2001 2000 Pre-tax operating profit before losses (NOK million) 975 1 406 1 345 1 311 1 192 3 726 3 701 Pre-tax operating profit (NOK million) 496 1 514 1 453 1 393 1 265 3 463 3 854 Net profit for the period (NOK million) 372 1 676 1 149 1 161 949 3 197 2 857 Earnings per share (NOK) 0.48 2.16 1.48 1.49 1.22 4.12 3.67 Return on equity (Per cent) 5.6 26.0 18.8 18.5 15.8 16.7 16.5 Combined assets (NOK billion) 465 483 463 445 452 465 452 Core capital ratio at end of period (including 50 per cent of profit for the period, except year-end figures) (Per cent) 8.6 8.6 7.3 7.5 7.5 8.6 7.5 Group income including premium income (NOK million) 4 506 4 532 17 267 14 907 Combined assets NOK billion 500 465 445 407 400 368 344 319 313 300 300 271 246 253 228 232 183 183 200 169 171 175 97 108 100 0 31 Dec. 1997 31 Dec. 1998 31 Dec. 1999 31 Dec. 2000 30 Sept. 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 Supplementary information 3rd quarter 2001 2. Financial results DnB Group Profit and loss accounts Profit and loss accounts Jan.-Sept. Jan.-Sept. 3Q01 2Q01 1Q01 4Q00 3Q00 Amounts in NOK million 2001 2000 Net interest income 2 013 1 959 1 869 1 928 1 807 5 841 5 293 Net other ordinary operating income 949 1 456 1 488 1 601 1 306 3 893 4 135 Ordinary operating expenses 2 000 2 010 2 015 2 154 1 935 6 025 5 725 Ordinary operating profit 961 1 405 1 342 1 376 1 179 3 709 3 702 Gains on the sale of fixed assets 1411161514 Restructuring, write-downs, etc. 00(2) 65 (7) (2) 16 Pre-tax operating profit before losses 975 1 406 1 345 1 311 1 192 3 726 3 701 Net losses/(reversals) on loans etc. 128 (101) (94) (85) (75) (68) (156) Net gain/(loss) on long-term securities (351) 714 (3) (1) (330) (2) Pre-tax operating profit 496 1 514 1 453 1 393 1 265 3 463 3 854 Taxes 124 (162)
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