At the end of 2010, Bank DnB NORD Polska obtained very good financial results. Gross profit amounted to PLN 75.2 million, net profit to PLN 56.7 million. The balance sheet total increased to PLN 9.7 billion. At the present moment, DnB NORD commences servicing small and medium-size companies and at the same time prepares a long-term development plan.

Successful last year
At the end of last year, DnB NORD obtained best results in its history. Gross profit amounted to PLN 75.2 million, whereas net profit to PLN 56.7 million. This is a significant improvement in comparison to 2009, when the bank recorded a loss of PLN 88 million gross and PLN 76 million net.

Result on banking activity amounted to PLN 331.4 million at the end of the last year in comparison to PLN 247.9 million two years ago (an increase of over 33%). The balance sheet total of the bank amounted to PLN 9.7 billion – almost 2 billion more than at the end of 2009 (an increase by over 24%). The bank also significantly improved efficiency indices, including cost to income index, which, at the end of 2010, amounted to 64.4% (in comparison to almost 90% a year before).

Last year, DnB NORD created fewer credit provisiopns (PLN 45 million in 2010 in comparison to PLN 112 in 2009).

After the losses in 2009, we restructured the bank. On the one hand, we focused on most profitable segments of the market – corporate and retail (especially mortgage loans and investment products). On the other hand – we adjusted bank to newly developed strategy and we introduced new, efficient business processes. This model turned out to be very profitable. However, we are aware that in order to maintain the growth trend in a long-term prospect – we have to look for possibilities of further development, both this year and in the next years, said Bartosz Chytła, CEO of DnB NORD.

Now SME
DnB NORD also wants to mark its presence in the SME sector. At the beginning of March, the bank introduced a credit offer for small and medium companies based on a completely new, quick credit process where the credit decision is made within 5 business days from the moment of receipt of a complete application. Subsequently, the offer will be extended onto packages – that is accounts with additional products and services.

Our aim is to build a strong position in the SME sector and to create the “third pillar”, apart from corporate and retail banking, that generates profits. We are not only preparing a complete offer for small and medium companies, but also efficient manner of sale and servicing for customers from this segment. Therefore, this year we opened new divisions in Warsaw, Cracow and the Tri-City – important for servicing not only individual customers, but also companies, says President Chytła.

Long-term development plan in April
From December last year, the 100% owner of DnB NORD is the largest Norwegian bank, DnB NOR. By taking over shares in DnB NORD, this bank wants to develop its activity outside of Norway, including the Polish market – perceived as large and attractive. 

Entry into the structure of the largest Norwegian bank (DnB NOR) and – at the same time – one of the most stable financial institutions in Europe, will make our development at larger scale easier. Therefore, at this moment we are working on a detailed development plan of our bank for the next years. We would like to have it ready by the end of April, says Bartosz Chytła.

Brief information about DnB NORD and its shareholder
DnB NORD has been operating in Poland since 2004. Originally, it was a corporate bank servicing solely large enterprises. At this moment, DnB NORD develops retail banking, creates a new offer for small and medium enterprises. The Bank also provides brokerage services.

The sole shareholder of DnB NOR is the largest bank and financial group in Norway, DnB NOR. It services over a half of Norway’s inhabitants and is a leader in banking for companies, insurance and asset management. DnB NOR has its branches in largest financial centres throughout the world (e.g. in London, New York and Singapore) and its shares are listed at exchanges in Oslo and London. DnB NOR is also one of the largest world banks financing shipyard industry and energy sector.

The balance sheet total of DnB NOR exceeds EUR 260 billion, whereas the bank completed last year with profit amounting to EUR 1.8 billion.