DnB NOR is to open a branch office in Santiago and representative offices in Piraeus and Mumbai. "These initiatives are part of DnB NOR's international growth strategy and will strengthen our ability to locally follow up existing clients within shipping, energy, fisheries and aquaculture, while creating new business opportunities for the bank," says Leif Teksum, group executive vice president. Greece The office in Piraeus will serve shipping clients in and outside Greece. DnB NOR is among the world's leading banks within global ship financing. Greece is the world's largest shipping nation, and DnB NOR already has a significant number of Greek clients. "The opening of an office in Piraeus will create a stronger platform for further growth in both the Greek and international shipping markets," says Leif Teksum. India The office in Mumbai will primarily serve clients within shipping and energy. "India is a rapidly growing economy, and over the last five years GDP growth has averaged approximately 7.8 per cent. DnB NOR already serves Indian-based companies within shipping, offshore, logistics and energy. An increasing number of Norwegian companies are establishing themselves in India and making investments in DnB NOR's core competence areas," says Leif Teksum. Chile The office in Chile will primarily serve clients within the fisheries and aquaculture sector, but also within shipping and energy in Chile and neighbouring areas. "DnB NOR currently has a representative in Brazil and Chile who serves the bank's clients in South America. A branch office will now be opened in Chile while the representation in Brazil will continue as today. The establishment of a branch office in Santiago is subject to approval from the governing bodies in DnB NOR Bank ASA and from the supervisory authorities in Norway. The new establishments are conditional on approval from the respective countries' authorities and are planned to be in place in the course of 2008.
Three new international offices
| Source: DnB NOR Bank ASA