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DnB Bank 3Q Net Profit Boosted by Volume Growth, Repricing

By Ian Walker


DnB Bank ASA on Thursday reported a 10% rise in third-quarter net profit which was boosted by profitable volume growth and repricing effects, and backed its target for a return on equity above 12%.

Norway's largest lender made a net profit of 7.58 billion Norwegian krone ($714.1 million), compared with NOK6.88 billion a year earlier.

Net interest income rose to NOK12.25 billion from NOK9.77 billion.

DnB's common equity Tier 1 capital ratio--a measure of a bank's financial strength--fell to 18.1% from 19.2% at Sept. 30, 2021 but is up from 18.0% in the second quarter.


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(END) Dow Jones Newswires

October 20, 2022 02:06 ET (06:06 GMT)

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