OREANDA-NEWS. On May 04, 2008 the rating agency Standard & Poor's has raised its long-term rating of the ultimate shareholder of DnB NORD Banka, the largest bank of Norway DnB NOR Bank ASA to AA- from A+. The short-term rating has been raised to A-1+ from A-1, reported the press-centre of DnB NORD Banka.

Andris Ozolins, CEO of DnB NORD Banka explains: "Despite the tense global economic situation causing highly cautious ratings and forecasts of rating agencies, the rating of  DnB NOR Bank, the ultimate shareholder of DnB NORD Banka, is raised thus emphasizing both the stabile performance of the bank and continuously leading market position in Norway and the conservative risk profile and stabile development of its subsidiaries abroad".

Bank DnB NORD, The mother company of DnB NORD Banka, combining know-how, expertise and infrastructure of both the biggest bank in Northern Germany NORD/LB and Norwegian leading bank DnB NOR is providing full scope of innovative and competitive financial services through its large branch network in the strategically important region of Northern Europe, i.e. Denmark, Finland, Estonia, Latvia, Lithuania, Poland, Germany, Norway, and Sweden.