Norwegian bank DNB sees growth in all areas as second quarter in line

Norwegian bank DNB sees growth in all areas as second quarter in line
FILE PHOTO: A view of DNB bank's local office in Riga, Latvia November 20, 2013. REUTERS/Ints Kalnins/File Photo -
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Ints Kalnins(Reuters)
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OSLO (Reuters) – Norway’s DNB <DNB.OL>, the Nordic region’s biggest bank by market value, said it had seen growth in all business areas as it reported second-quarter results that were in line with expectations on Thursday.

DNB’s net interest income rose to 9.6 billion crowns (£896 million) in the second quarter, up from 9.1 billion crowns at the same time a year ago, and just below the average forecast of 9.7 billion crowns from eight analysts compiled by Refinitiv.

DNB overtook Nordea <NDAFI.HE> as the region’s biggest bank by market capitalisation in June thanks to a prospering Norwegian economy, by making its operations more efficient and by avoiding the money-laundering scandals that have knocked some of its peers.

At the close of trading on Wednesday, DNB’s market capitalisalion was 27.09 billion euros ($30.53 billion), compared with 27.02 billion euros for Nordea.

(Reporting by Gwladys Fouche; Editing by Mark Potter)

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