DNB Bank ASA - M&A Activity 2015 | FinancialReports.eu

Strategic assessment of credit card operations

DNB has decided to initiate a process to assess various strategic alternatives

related to the bank's credit cards that are provided through external channels.

This affects around one-third of the bank's total credit card portfolio. Credit

cards under the DNB brand are not encompassed by this process.

The operations under review are organised in a separate unit in DNB Finans

called Cards External Channels which distributes credit cards under the Cresco

brand, along with other credit and loyalty cards. In addition to pure credit

card-based products, the unit offers consumer loans and combined deposit and

credit cards. This unit has assets of about NOK 6 billion. The products are

distributed through separate distribution channels (such as www.cresco.no) and

through third-party distributors and partners, mainly retailers and

organisations.

Credit cards operated under the DNB brand represent around two-thirds of the

bank's total credit card portfolio. These operations are not encompassed by the

above strategic assessment.

DNB will now explore all possibilities and seek to find the best long-term

solution for both DNB and these operations. The assessment could result in the

sale of all or parts of the operations, though it is also possible that the

operations will be retained in DNB. A potential sale will have a positive effect

on DNB's Tier 1 capital.

DNB Markets serves as financial advisors.

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Contact persons:

Rune Helland, head of Investor Relations, tel: +47 977 13 250

Thomas Midteide, group executive vice president, Corporate Communications, tel.:

+ 47 962 32 017

This information is subject to the disclosure requirements according to Section

5-12 of the Norwegian Securities Trading Act.

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