Norway

DnB NOR is Norway’s largest financial institution following last year’s merger of DnB and Gjensidige NOR. The group now has more than 2m retail customers, some 150,000 corporate customers and more than 700,000 life assurance clients. The bank aims to be the leading financial services group in Norway and to develop more cost-effective and attractive products and services for its customers. Co-operation with 16 regional savings banks allows the provision of technological solutions and distribution of the group’s products. Through an agreement with Norway Post, the group’s products and services are also distributed through some 300 post offices, 1200 in-store postal outlets and more than 2000 rural postal employees, giving the bank a unique position in Norway. It now has the size and strength to meet foreign competition and a distribution network, product range and local knowledge that makes it possible to compete with any domestic player. “DnB NOR is a group showing steady progress,” says group chief executive Svein Aaser. “Profits are moving in the right direction and we are consolidating our position in the market. Customers are given priority even in a period characterised by intense activity to implement the merger between the two organisations.”