DNB caught up in Icelandic corruption

Norway’s biggest bank, DNB, is under suspicion of having facilitated the transfer of USD 70 million from Iceland’s largest player in the fishing industry to shell companies set up in tax havens. From there, the money allegedly found its way to government officials in Namibia, who in turn granted the Icelandic company fishing quotas in […]

New DNB boss defends court appeal

Kjerstin Braathen, the new chief executive of Norway’s biggest bank DNB, has spoken warmly of how important customers are. She’s prepared, however, to meet representatives for thousands of them in court after the bank decided to appeal its loss in the country’s biggest class-action suit ever. “It’s never nice to meet our customers in court,” […]

Braathen to take over at DNB

Norway’s largest bank, DNB, has tapped its chief financial officer to become its chief executive. Kjerstin Braathen, who’s worked for DNB for 20 years, vows to maintain the bank’s dominant position after taking over the helm from a retiring Rune Bjerke. “Kjerstin has all the qualifications to do a better job than me,” said Bjerke, […]

DNB: ‘Safe to use bank cards now’

Norway’s largest bank was promising to keep its troublesome electronic payment system under surveillance heading into the weekend, while claiming that its technical problems had been solved. DNB customers were finally told late Thursday that they could once again use their Visa bank debit cards without fearing their purchases would be charged twice.  The trouble […]

More trouble for DNB’s customers

Norway’s biggest bank, DNB, was plagued by more technical trouble on Thursday that also caused major problems for its customers. Every time they made a payment using their VISA debit card, the amount was deducted twice from their accounts, resulting in some customers seeming to have run out of money. The trouble began last week, […]

Customers win their claim against DNB

It’s been the biggest class action lawsuit ever filed in Norway, and it was against Norway’s biggest bank, DNB. Now around 180,000 DNB customers have won their claim that the bank charged fees that were far too high, and their victory was being hailed Thursday as a victory for all consumers in Norway and even […]

DNB raises its mortage rates

Norway’s biggest bank, DNB, didn’t waste any time in raising interest rates on its home loans. It became the first Norwegian bank on Friday to warn customers that rates would rise by a quarter-point from November 4. DNB’s increase comes just a day after Norway’s central bank announced the same increase in its key policy rate. […]

Nordea buys insurer’s bank

Nordea, the Nordic banking firm, agreed last week to buy Oslo-based Gjensidige Bank for NOK 5.5 billion. The deal includes a long-term strategic agreement with insurance company Gjensidige in Norway. Terms call for Nordea to offer its 900,000 customers in Norway insurance products from Gjensidige (roughly pronounced yen-siddy-ya). Gjensidige wrote in a report to the […]

1,200 bank workers called out on strike

Norway’s largest trade union federation LO pulled around 1,200 bank employees off their jobs Thursday morning. Mediation that extended through the night, however, resulted in banks and insurance companies avoiding a much larger strike that could have shut down most banking services. The employers’ organization for the financial services industry, Finans Norge, came to terms with […]

Bank employees threaten to strike

Labour organizations representing 21,000 bank employees and other workers in the financial sector threatened to call workers out on strike from Thursday. That can lead to major problems and even halt bank card use and electronic banking. Media outlets were advising Norwegians to pull some cash out of minibanks, and not just because of concerns […]