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DNB restructures personal and corporate banking units

Norway-based DNB is planning to separate personal and corporate banking businesses, in order to enhance competitiveness, as per market requirements.

The lender said that it is vital to restructure the organization in response to customer behavior and regulatory changes.

DNB Group chief executive Rune Bjerke said, "In order to maximise our competitive power in the future, we are adapting our organisation to reflect these changes."

The new Personal Banking Norway division will serve its personal customers in all channels, both digital and physical, while Corporate Banking Norway will deliver services to small and medium-size companies.

The bank has appointed Trond Bentestuen and and Kjerstin Braathen to spearhead the Personal Banking and Corporate Banking, respectively.

It is also considering launching a wealth-management unit, which will include Private Banking and Asset Management.

Additionally, the largest product units, comprising DNB Finans, DNB Livsforsikring and DNB Skadeforsikring, will be organized under Products and Business Development, the bank said in a statement.

DNB will also set up a separate support unit known as Risk Management as well as organize all IT users into one IT and Operations division.