DNB Bank ASA

Board/Management Information • Sep 13, 2021

New CFO in DNB Bank ASA

New CFO in DNB Bank ASA

Ida Lerner is the new CFO of DNB, effective from 1 November.

"Now that Ottar wants to make the transition to a new working life, I'm very

pleased that Ida has accepted this exciting challenge. She has extensive insight

into DNB's operations, risk, strategy and financial situation. Over a number of

years, Ida has stood out as a strong and brave manager who has what it takes to

be a CFO," says Group Chief Executive Officer Kjerstin Braathen.

Ida Lerner has 14 years' experience from DNB, the last four as Group Executive

Vice President for Risk Management. She has previously been Head of DNB CEMEA

(Central Europe, Middle East and Africa) in London, and also has experience from

Large Corporate Banking at HSBC and stock brokerage at Nordea.

"I look forward to starting in a new role. DNB is one of Europe's best

capitalised banks, and one of a few banks to successfully implement its dividend

policy, even through the past few, challenging years. I'm taking over the

responsibility as CFO in a bank that has strong financial results and a solid

portfolio quality," says Ida Lerner.

Ottar Ertzeid has decided to leave DNB after 32 years of employment in the

Group. For 18 years he was in charge of Norway's largest brokerage house, DNB

Markets, and he has served as CFO for the past two years.

"I am grateful and privileged to be able to look back on fantastic career in

DNB. It was a difficult decision to leave my exciting tasks and good colleagues.

I have complete faith in the bank's financial and strategic position. I would,

however, like to spend the remaining years of my working life using my expertise

in a freer role, such as board positions. I also want to be more active in the

securities market with my own funds, and these wishes are incompatible with my

current position as CFO," says Ottar Ertzeid.

Ertzeid will act as an M&A adviser in DNB until the spring of 2022.

"Ottar has made a lasting impact in DNB. I am very thankful for the job he has

done, in particular the significant results he helped us achieve. Through a

difficult period for the Norwegian economy, he has remained rock solid. His

track record as Head of DNB Markets for 18 years is impressive. We hope we can

continue to use his expertise in boards within the DNB Group," says Braathen.

As of September, DNB's Group Management Team also includes the following new

members:

Sverre Krog, Chief Risk Officer

Anne Sigrun Moen, Group EVP of People

Benjamin Golding, Group EVP of Payments & Innovation

For further information:

Rune Helland, Head of Investor Relations, tel.: (+47) 23 26 84 00/(+47)

977 13 250

Thomas Midteide, Group Executive Vice President of Communications &

Sustainability, tel.: (+47) 96 23 20 17

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Securities Trading Act.