Page 96: of Maritime Reporter Magazine (April 1998)

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DnB: Banking On Maritime

In typical banker fashion, Norway's Den Norsk

Bank (DnB) professes not to strive to be the largest, rather simply the most profitable financial institu- tion serving the maritime markets.

While trite, their statement carries significant weight given the bank's unique approach to making money in the maritime niche. A staff of 102 services

DnB's maritime clients, providing capital and infor- mation needs to executives in the shipping and off- shore markets. This staff has impressively amassed a portfolio totaling more than $9 billion under man- agement. Looking at the big picture, shipping assets account for a hefty 15 percent of the bank's overall yearly take, a fact which further stresses DnB's com- mitment to the market.

Making The Grade

In evaluating the creditworthiness of its new cus- tomers — and in the end, the cost of the loan — DnB developed and employs a unique grading system which is based on both financial and non-financial factors, such as the quality of the management or whether or not the company holds a monopoly.

Interestingly, the non-financial factors account for 60 percent of the equation. "It is important 'who' we do business with," said Eldbjorg Sture, general man- ager of DnB's Shipping Division. "The point, though, is not to just grade the customer, but to integrate that [grade] into the pricing of the deal."

The overall grading system fits well into the (Continued on page 91)

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LR Industri A/S Tel. +45 99 66 15 00 |

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