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Norway’s largest brokerage DNB Markets had revenues of just over two billion kroner in the third quarter of the year. In comparison, revenues were NOK 1.6 billion in the same period last year.
The result before tax ended at just over NOK one billion in the third quarter, compared to NOK 704 million in the same period last year.
It is the department for interest rates, currency and commodities that accounts for the lion’s share of the top line, followed by risk management and investment banking. According to DNB Markets CEO Alexander Opstad, this year’s third quarter was the best third quarter in six years for the brokerage house.
– We are very satisfied. There has been high activity in all areas for a third quarter to be, among other things we have the best third quarter in our investment banking area ever. There has also been high activity in currency, interest rates and raw materials, he writes in an email to DN.
At the latest last week, the listed brokerage house ABG Sundal Collier announced a weak recovery in the third quarter.
Both revenues and profit were up in the third quarter of this year, and profit before tax increased by 18 per cent compared to the same time last year.
For the first nine months of the year as a whole, revenues are just below the level of the same quarter last year, while earnings are significantly lower, which has also been a demanding period in the financial market. The brake in the market has come as a result of interest rate increases, high inflation and more cautious investors.
DNB Markets CEO Alexander Opstad was hopeful at the latest at the presentation of the half-year figures three months ago. At the time, he predicted a ketchup effect for new IPOs in the autumn, but so far it has been slow to happen.
The biggest news on the listing front is that the consulting giant Norconsult will probably go public before Christmas.
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02:49
Published: 18.10.23 — 11:17
Correction: An early version of this article stated that the result for ABG Sundal Collier was weaker in the third quarter of this year than in the same period last year. It’s wrong. The result has been announced in the third quarter of the year. The error was corrected on 19 October 2023 at 08.05.
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2023-10-19 06:22:30
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