DNB should have worked in the scenes to influence a regulatory framework that does not apply to them. Now the big bank is criticized by the challenger.
The card version
Table of Contents
- Bulder boss Simen Eilertsen criticizes DNB for influencing regulations on Sparebanker’s customer dividend.
- Eilertsen believes a state -owned bank that DNB should focus on its own competitiveness.
- Norwegian savings banks have distributed NOK 2.2 billion in dividends to customers this year to strengthen customer loyalty.
The summary is made by the AI tool Chatgpt and quality assured by E24’s journalists
– This doesn’t look good. Here we see how DNB is mobilizing in the hallways to influence a regulatory framework that has nothing to do with them, says Simen Eilertsen.
He is the CEO of Bulder Bank and is not gracious in his criticism of the big bank DNB.
The reason for the criticism is what Eilertsen refers to as DNB’s “lobby action to abolish the savings banks’ ability to pay customer dividends”.
Bulder Bank is part of Sparebanken Norge, and markets itself as a challenger with low interest rates in the banking market.
Read on E24+
Rasmus Figenschou: – I always have an eternity perspective
Did not deliver consultation statement
Last year, the government set down a committee to assess how savings banks will be run in Norway.
The committee concluded, among other things, that the scheme that allows savings banks to pay customer dividends should be abolished. The committee pointed out that customer dividends are not part of the savings bank tradition, and that they should rather distribute gifts.
DNB did not deliver its own consultation statement in the case.
According to Nettavisen Bankshift, DNB has nevertheless worked in the scenes and in February asked for a meeting with Finance Minister Jens Stoltenberg.
The newspaper writes that DNB brought a presentation to the Ministry of Finance, which was exclusively about customer dividends.
Do you have tips for this or other issues? Contact E24’s journalist, Mari Malm, by mail: mari.malm@e24.no or signal: 908 97 171.
– mobilizes in the hallways
Dnb is not one savings banksavings bankA savings bank is a bank that is organized as a self -owned institution, that is, without external owners. This is unlike a commercial bank organized as a corporation and thus with the shareholders as owners. so if customer dividends are abolished, it will have no direct consequences for the bank.
– We are moving backwards if the banks are to be most concerned about damaging each other, Eilertsen tells E24.
He continues:
– Here we see how DNB is mobilizing in the hallways to influence a regulatory framework that has nothing to do with them.
– But this can go beyond the competitiveness of DNB?
– We cannot remove schemes because DNB, which is also the market leader, will not take up the competition.
The state is the largest owner of DNB and owns 34 per cent of the shares.
– A state -owned bank cannot go for what is good for other banks, says Eilertsen.
Read on E24+
Manager after the election: Two sectors are postponed on the stock exchange
E24 has asked DNB questions about Bulder Bank’s statements.
-We cheer for competition and think Bulder is doing a lot of good, but the competition must be fair and on equal terms, writes Executive Vice President of People & Communication, Even Westerveld, in an email.
DNB therefore “agrees with the Sparebank Committee, the Financial Supervisory Authority, the Competition Authority and Norges Bank in that the current model with customer dividends with tax deductions is competitive and therefore should be changed”.
Why DNB did not submit a consultation statement in connection with the committee’s job, they have not responded to.
2.2 billion in dividends
Bulder Bank’s customers are paid dividends on the profits of Sparebanken Norway
So far this year, Norwegian savings banks have distributed NOK 2.2 billion in dividends, to 1.3 million customers.
For the savings banks, this is a good tool for creating customer loyalty. They also do not have to pay taxes on this part of the profits.
These savings banks have paid customer dividends this year:
- Sparebanken Vest*, including Bulder Bank
- Sparebanken south*
- Fana Sparebank, including Himla
- Jæren Sparebank
- Lillesand Sparebank
- Rogaland Sparebank
- SpareBank 1 Eastern Norway
- Oslofjord Sparebank*
Sparebanken Vest, Sparebanken Sør and Oslofjord Sparebank merged and formed Sparebanken Norge earlier this year.
Sparebanken Vest, including Digitalbanken Bulder has paid out the most dividend. NOK 927 million, almost half of the customer dividend-the-footal, has returned to their customers this year, E24 is informed.
