Awards for Excellence 2008: Norway
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BANKING

Awards for Excellence 2008: Norway

Best bank: DnB Nor Bank 

Best debt house:  Barclays Capital 

Best equity house: Carnegie 

Best M&A house: SEB

DnB Nor Bank is one of Norway’s largest banks and part of the DnB Nor Group, which also includes brands such DnB Nord, which has cut a dash across a number of markets including the Baltic republics in recent years. With a domestic market share of almost 30% in retail lending and deposits and a similar level of corporate deposits, DnB Nor Bank has an established position. But it continues to grow at an impressive rate: it recorded a healthy 18.6% rise in profits in 2007, largely as a result of higher volumes. Lending rose 17%, deposits grew by 12.9% and income by 9.6%.

DnB Nor Bank, which was upgraded from Aa3 to Aa1 by Moody’s in 2007 and assigned a positive outlook on its A-plus rating from Standard & Poor’s, attributes its success to its employees, who it believes constitute the greatest concentration of financial expertise in the country.

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