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DNB nominates chairman

DNB ASA's election committee nominated Olaug Svarva chairman of the bank's board of directors.

Svarva will be formally elected to the position at the bank's April 24 annual general meeting. She replaces Anne Tanum, who will retire as chairman at the meeting.

Svarva has been CEO of Norwegian state-owned firm Folketrygdfondet since 2006.

Meanwhile, DNB said it repurchased 440,000 of its shares at an average price of 153.19 Norwegian kroner per share as part of its previously announced share buyback program. Following the transaction, the bank now owns a total of 12,770,102 of its own shares.

As of Feb. 7, US$1 was equivalent to 7.87 Norwegian kroner.