The Ministry of Finance has today issued a mandatefor an assessment on DnB and Christiania Bank to be produced by the Government Bank Investment Fund.

The mandate is based on the Government’s report to the Storting ("Kredittmeldinga" – report no 11 (1999-2000)) and the recommendation of a majority of the Standing Committee on Financial Affairs.

In its recommendation a majority of the Committee draws the conclusion that the government should join its interests as an owner in one entity, to maintain national ownership by owning at least 1/3 of the shares. Such entity should have flexibility for further development in Norway and in other Nordic countries. The majority is of the opinion that a sale, if any, of the shares in Christiania Bank can not be made until a Norwegian solution has been considered.

Based on discussions in the Storting, the Government Bank Investment Fund is asked to consider the options of structural solutions for DnB and Christiania Bank. The objective is to establish a strong financial solution with stable national ownership. It is important to keep main strategic functions (head quarters) in Norway. The Storting assumes that the Government’s ownership interest should be consolidated in such an entity.

The Government Bank Investment Fund should consider viable solutions for DnB and Christiania Bank as institutions, as well as for the Government as an owner.