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    DNB   NO0010031479

DNB ASA

(DNB)
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DNB : Norway's DNB faces $45 million fine over money laundering compliance work

12/07/2020 | 02:46am EDT
A DNB bank sign is seen on the bank's branch in Stavanger

OSLO (Reuters) - DNB, Norway's biggest bank, could be fined 400 million Norwegian crowns ($45.4 million) by the country's financial regulator (FSA) for failing to comply with anti-money laundering regulations, the bank said on Monday.

"The possible fine that DNB has been notified of is not related to any suspicions of money laundering or complicity in money laundering, but rather what (the FSA) considers to be inadequate compliance with the anti-money laundering rules and legislation," DNB said.

The bank will now examine FSA's preliminary report and submit a response, it said.

"The fight against financial crime is an important part of DNB's corporate responsibility, and it is a task on which the company spends considerable resources," the bank said.

The indicated fine corresponds to around 0.7% of DNB's annual revenue.

The FSA did not immediately respond to a request for comment.

(Reporting by Victoria Klesty, editing by Terje Solsvik)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DNB ASA 3.16% 195.6 Real-time Quote.12.86%
NORWAY OSLO BORS BENCHMARK(TRG) 0.78% 1133.14 Real-time Quote.15.88%
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Financials
Sales 2021 54 196 M 6 350 M 6 350 M
Net income 2021 21 376 M 2 504 M 2 504 M
Net Debt 2021 - - -
P/E ratio 2021 14,3x
Yield 2021 5,18%
Capitalization 305 B 35 844 M 35 742 M
Capi. / Sales 2021 5,63x
Capi. / Sales 2022 5,33x
Nbr of Employees 9 096
Free-Float 57,6%
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Technical analysis trends DNB ASA
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TrendsBullishBullishBullish
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 22
Last Close Price 195,60 NOK
Average target price 180,84 NOK
Spread / Average Target -7,54%
EPS Revisions
Managers and Directors
NameTitle
Kjerstin Elisabeth Braathen Group Chief Executive Officer
Ottar Ertzeid Chief Financial Officer
Olaug Svarva Chairman
Alf Otterstad Group Executive VP-Information Technology
Mirella E. Grant Executive Vice President-Compliance
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