Pipeline protests reach Parliament

SEE THE VIDEO: Protests in Norway against construction of the controversial Dakota Access Pipeline in the US have not subsided. Scores of protesters gathered in front of the Norwegian Parliament Thursday evening, shortly after Greenpeace Norway presented a demand backed by 420 organizations in 50 countries that Norway’s biggest bank and many others immediately suspend funding for the […]

DNB funds sell off their pipeline stakes

Investment funds managed by Norway’s biggest bank, DNB, have sold off stakes in companies behind the controversial Dakota Access Pipeline in the US. The bank is still involved in financing the pipeline but continues to “evaluate” whether to withdraw from that as well. DNB’s information director Even Westerveld confirmed to newspaper Aftenposten on Friday that its […]

Norway’s pipeline stakes deepen

Not only are Norway’s huge sovereign wealth fund and its biggest bank involved in the controversial Dakota Access pipeline, its largest life insurance firm and pension fund for local government- and other employees also has stakes in it. So does Norway’s second-largest bank, Nordea. Kommunal Landspensjonskasse (KLP) confirmed on Tuesday that it has invested in four […]

Oil Fund and DNB ‘re-think’ pipeline

Stung by harsh criticism over their involvement in the controversial Dakota Access Pipeline project, Norway’s huge Oil Fund and its biggest bank are both signaling a re-evaluation. DNB issued a press release on Sunday stating its concerns and raising the possibility that it will, as protesters demand, withdraw its financing. “Our policy is clear, that we only […]

Customers to DNB: ‘Shame on you!’

Nearly 4,000 Norwegians had signed a petition as of Friday afternoon that protests the financing of a controversial oil pipeline in the US by Norway’s largest bank, DNB. Several say they’re closing their accounts at DNB, while the bank contends it hasn’t experienced any major customer flight. “Shame on you, DNB!” wrote customer Karen Inga Vars on the […]

45,000 bank cards may be cancelled

Several Norwegian banks have been told that they should cancel bank cards held by around 45,000 Norwegian customers, because they may be subject to a massive international swindle. Several banks have already begun informing customers that their current debit and credit cards will be cancelled and replaced. “We’re talking about a swindle involving millions of kroner, so […]

Norway caught in pipeline uproar

Norway’s biggest bank, DNB, and the country’s huge sovereign wealth fund known as the Oil Fund are both involved in the construction of a highly controversial oil pipeline project in the US. Norway’s Sami Parliament is now calling on the Oil Fund to withdraw its investments in the companies behind the Dakota Access Pipeline Project, which many claim threatens […]

DNB’s reputation takes a beating

DNB still ranks as Norway’s biggest and most profitable bank, but its standing among consumers, regulators and top politicians has taken a dive this year. From revelations of the use of tax havens leaked through the Panama Papers last spring, to reports last week that it will start charging customers to withdraw cash even from […]

Economist quits DNB for NHO

One of Norway’s most high-profile economists will be leaving the country’s biggest bank, DNB, after 18 years. Øystein Dørum has been wooed over to NHO, Norway’s largest employers’ organization, where he says he hopes to help create jobs. “We’re facing demanding challenges in the Norwegian economy and it’s important that we succeed in creating new […]

Labour violations found at DNB

Regulators at Norway’s state labour authority Arbeidstilsynet have uncovered several violations of the law at Norway’s biggest bank, DNB. An investigation into claims of excessive time on the job by Indian consultants hired in from Tata Consultancy Services found that they’ve been working far too many hours a day and, in some cases, three weeks in a row […]