Financial strategy

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The Board of the DNB NOR Savings Bank Foundation adopted the foundation’s financial strategy in 2005. 

This strategy was most recently revised during the autumn of 2009.

The DNB NOR Savings Bank Foundation’s financial investment objective is:

Highest possible risk-adjusted return in order to obtain funds for the foundation’s idealistic work in respect of its adopted guidelines.

Based on the above objectives, the foundation’s financial management objectives are:

  • To contribute towards the foundation’s social involvement and reputation, by making investments for the benefit of the society.
  • To realize an annual return that will enable the foundation to donate satisfactory gifts.

 

The most important framework aspect of the foundation’s financial strategy is:

The foundation shall own at least 10 % of the shares in DNB.

 

Revised financial plan with effect from 2009:

  

Use of annual profits

  • Up to 50 % of the foundation’s profits shall be allocated for gift purposes and charitable investments.
  • The remaining disposable amount shall be allocated for financial investments, including possible purchase of shares in DNB.

  

Shares in DNB

The DNB shares allocated to the foundation upon formation (130 million shares) is the foundations basic capital. Any matters relating to the sale or disposal of these shares in DNB shall be dealt with by the General Meeting of the foundation.

Sale or disposal of additional DNB shares owned by the foundation must be authorized by the Board.

  

Additional financial portfolio

The additional financial portfolio consists of:

  • Strategic/managed investments
  • Capital
  • Property investments (the foundation’s purchase of  Øvre Slottsgate 3/Tollbugaten 30 in Oslo was a substantial lift for the foundation and no further direct purchase of property are expected.)

 

Charitable investments

As an alternative to financial investments, the DNB NOR Savings Bank Foundation invests in objects for the benefit of the public.

Parts of the profit is used for this type of long term donations, where the book value remains in the foundation, while the objects are placed at the benefit of the public.

Such investments include fine art loaned out in a long term prospective to Norwegian art museums, and old stringed instruments loaned to talented Norwegian musicians.

  • A massive climbing castle has been constructed in Frogner Park in Oslo which swarms with children throughout the day. Sparebankstiftelsen DnB NOR granted NOK 2 million to this castle which was opened in November 2006.

  • Ethical management

    When engaging in ethical management, special attention shall be paid to investments that constitute an unacceptable risk in respect of complicity in unethical behaviour, the infringement of human and employee’s rights, corruption and environmental damage.