AS DNB Liising receives credit institution activity licence
On 1 August 2012, the Financial Supervision Authority issued a credit institution activity licence to AS DNB Liising. The name of the company will be changed in near future to AS DNB Pank, which will oversee the activities of both the DBN leasing company and the bank. Currently operating on the Estonian banking market as a branch, the Estonian branch of Bank DNB A/S will undergo liquidation proceedings after the company is handed over to AS DNB Pank.
Under the activity licence issued by the Financial Supervision Authority, the bank can accept deposits as well as other repayable monetary funds from the public and the Estonian depositor protection rules apply to the customers’ deposits. The deposits held in branches of banks operating in Estonia are insured by the depositor protection scheme in the bank’s country of origin.
AS DNB Liising’s share capital will be 9,376,430 euros. The direct qualifying holding in the company, which will operate under the name AS DNB Bank, belongs 100% to the Norway-based credit institution DNB Bank ASA, the sole shareholder in which is the company DNB ASA, which is listed on the Oslo stock exchange. The largest stake in DNB ASA – 34% – is held by the Norwegian government.
The chairman of the supervisory board of the company that received the credit institution activity licence will be Norwegian citizen Terje Turnes and the members of the supervisory board will be Norwegian citizens Atle Nicolai Knai, Ola Landmark, Olaf Tronsgaard and Tony Samuelsen. It is planned to elect Hans Pajoma chairman of the management board and Jaan Liitmäe and Hannu Saksala the members of the management board.