Norways DNB Beats Forecasts on Third Quarter Profit
Norway largest bank DNB reported better than expected third quarter earnings as pressure on margins eased and lending growth boosted income. Net profit fell to 9.84 billion crowns but beat analyst forecasts.
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DNB BANK ASA reported a 7.9% drop in net profit to 9.84 billion Norwegian crowns ($1.05 billion) for the third quarter, beating analyst forecasts. The country's largest bank benefited from easing margin pressure and steady lending growth despite intense competition in Norway. The result outperformed the 9.06 billion crown average estimate from a poll compiled by the bank.
