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DNB banka’s operating profits before provisions and taxes were at a level of LVL 4.5 million during the first quarter of 2012 – 7.1% more than during the same period last year. During Q1, the group earned a total profit of LVL 1.2 million.
CEO of DNB banka Andris Ozoliņš: “DNB banka has worked under its new brand for nearly half a year, and during that time we have become fully integrated into the DNB Group, which is the largest financial institution in Norway. We have strengthened the bank’s readiness to engage in long-term operations related to various scenarios of global economic development, and we have also provided new financial products and services that are attractive to our existing and potential clients. I’m proud of the fact that the stability and new opportunities of the DNB banka have been appreciated. During the first quarter of the year, 11% more companies and 48% more private customers became DNB customers than was the case during the same period in the previous year.”
DNB group’s deposit portfolio at the end of Q1 was LVL 550 million, or 10.4% more than during the same period last year, and the bank is particularly proud of the fact that deposits made by private customers during the quarter were 49% higher than during the first three months of 2011.
DNB group’s lending portfolio before provisions in Latvia amounted to LVL 1.5 billion at the end of March – 0.2% more than at the beginning of the year. There has been a substantial increase in demand for mortgage loans. During the first three months of 2012, DNB banka issued 19% more in mortgage loans than during the same period last year.
As Latvia’s economy gradually recovers, increasing numbers of companies in the country are choosing to seek financing from the DNB banka. During the first quarter of 2012, the loans issued to small and medium companies exceeded the amount provided during the same period last year by 70%, and financing for large companies in Latvia was at a level of 47% more than during the first quarter of 2011.
Leasing volumes for DNB exceeded the indicator from the same period last year by 78%, while factoring volumes were 33% higher during Q1 2012 than during the first three months of the previous year.
DNB Asset Management and the bank’s second-level pension plans operated successfully during the first quarter of this year, as well. The pension plans provided customers with the highest average and balanced five-year profitability among all pension plans – 4.61% annually.