DnB NOR
DnB NOR showed good profit growth, an increased RoE and improved capital strength. In the past year, it completed the merger between its original entities, DnB Holding and Gjensidige NOR, which began in 2003 and involved one million customers and two million accounts.
Synergies developed through the merger were achieved ahead of schedule.
“We have achieved strong growth in all our business areas, both in Norway and internationally, showing that we are performing well amid fierce competition from other Nordic players,” says group chief executive Svein Aaser. “Our international operations are becoming increasingly important, and our initiatives in Sweden, the Baltic region and Poland are now bearing fruit.
“During 2006, we completed all of the major integration projects since the merger in 2003. We have realised the synergies promised, achieving our targets ahead of schedule while strengthening market positions. I am impressed by the efforts of our staff in both large and small projects, which for many have been in addition to their daily challenges in a competitive market. To further improve our competitive power, we will continue streamlining our operations while investing in new operations and competence as well as developing new products and solutions for our customers.”
