VILNIUS — Norway’s largest financial group DnB NOR reported that its fully capable of taking over the DnB Nord bank in the Baltic States and Poland and is predicting toxic debt to decrease.
Up until now, the banking group was managed by the Norwegian concern along with the German bank Norddeutsche Landesbank Girozentrale. It is expected that loan losses will be slightly lower than in 2009. Last year, the bank wrote [private_supervisor]off €488 million in bad loans.
“We are ready to buy out the other owner’s share and we have already stated that we are ready to take over operations in the Baltic countries and Poland. We believe in business activities in the Baltic countries over the long term,” DnB NOR head Rune Bjerke said.
DnB NOR reported that it plans to earn between €2.7-3.1 million in operating profit before write offs in 2012 with reduced costs of €250 million.
DnB NOR is Norway’s largest financial services group with total assets of more than 780 billion litai. The group’s largest single owner is the Norwegian Ministry of Trade and Industry with a 3 percent share. [/private_supervisor] [private_subscription 1 month]off €488 million in bad loans.
“We are ready to buy out the other owner’s share and we have already stated that we are ready to take over operations in the Baltic countries and Poland. We believe in business activities in the Baltic countries over the long term,” DnB NOR head Rune Bjerke said.
DnB NOR reported that it plans to earn between €2.7-3.1 million in operating profit before write offs in 2012 with reduced costs of €250 million.
DnB NOR is Norway’s largest financial services group with total assets of more than 780 billion litai. The group’s largest single owner is the Norwegian Ministry of Trade and Industry with a 3 percent share. [/private_subscription 1 month] [private_subscription 4 months]off €488 million in bad loans.
“We are ready to buy out the other owner’s share and we have already stated that we are ready to take over operations in the Baltic countries and Poland. We believe in business activities in the Baltic countries over the long term,” DnB NOR head Rune Bjerke said.
DnB NOR reported that it plans to earn between €2.7-3.1 million in operating profit before write offs in 2012 with reduced costs of €250 million.
DnB NOR is Norway’s largest financial services group with total assets of more than 780 billion litai. The group’s largest single owner is the Norwegian Ministry of Trade and Industry with a 3 percent share. [/private_subscription 4 months] [private_subscription 1 year]off €488 million in bad loans.
“We are ready to buy out the other owner’s share and we have already stated that we are ready to take over operations in the Baltic countries and Poland. We believe in business activities in the Baltic countries over the long term,” DnB NOR head Rune Bjerke said.
DnB NOR reported that it plans to earn between €2.7-3.1 million in operating profit before write offs in 2012 with reduced costs of €250 million.
DnB NOR is Norway’s largest financial services group with total assets of more than 780 billion litai. The group’s largest single owner is the Norwegian Ministry of Trade and Industry with a 3 percent share. [/private_subscription 1 year]
— This is a paid article. To subscribe or extend your subscription, click here.
