Financial results of DnB NORD Banka in 2008 - acknowledgement of successful and

Having summarized the financial results of DnB NORD Banka for 2008, we can
conclude that despite the strained economical situation both on global and
domestic markets the bank has continued sustainable development maintaining its
position among top Latvian banks. 

Over the last year assets of DnB NORD Banka have augmented by LVL 220 million
up to LVL 1.9 billion, and therefore in terms of growth of assets DnB NORD
Banka is number three on Latvian banking sector. Consolidated assets of DnB
NORD Group amount to LVL 2.2 billion. 

In 2008, like before, lending policy adopted by DnB NORD Banka was implied by
the economic situation. During 2008 the Bank's loan portfolio grew by 17% up to
LVL 1.693 billion, and also in terms of loan portfolio growth rate the Bank
maintains stable position among top three Latvian banks. 

One of the most important indications that reflect the population's reliance on
the bank - amount of deposits - over the last year has drastically augmented,
in terms of growth being the second biggest on Latvian banking sector. Amount
of deposits attracted by DnB NORD Banka by the end of 2008 amounted to LVL 440
million, which is by 30% more as compared to 2007. 

After making of appropriate provisions in compliance with the economic
situation and revaluation of securities, in line with rather prudent credit
risk assessment policy DnB NORD Banka's profit in 2008 amounted to LVL 6.2
million. 

The number of new customers has grown considerably- among the customers of DnB
NORD Banka number of private individuals in 2008 has grown by 8% or 13.9
thousand new customers, and number of corporate customers has grown by 21% or
1.8 thousand. 
Rendering of high quality services to both private individuals and legal
entities, improvements in range of investment banking products and services, as
well as mitigation of eventual financial risks are outlined as the principal
directions of the Bank's operational activities in 2009 as well. 

In 2008 DnB NORD Banka received the award from the prestigious international
magazine „Euromoney” as the best bank in Latvia; besides, at the end of year
was laid the cornerstone of DnB NORD Banka new office building in the
neighborhood of Skanstes Street in Riga.