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Norway's DNB warns of $111 loan loss provision

Norway's DNB warns of $111 loan loss provision
FILE PHOTO: A woman walks past DNB bank's local office in Riga November 20, 2013. REUTERS/Ints Kalnins -
Ints Kalnins(Reuters)
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OSLO (Reuters) – Norwegian bank DNB <DNB.OL> will book at loan loss provision of about 1 billion Norwegian crowns (89 million pounds)in the third quarter related to one of its customers, it said on Tuesday.

The loss stems from “recent events and current circumstances related to one specific loan engagement”, DNB said, although it did not name the client.

(Reporting by Terje Solsvik, editing by Nerijus Adomaitis)

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