The Savings Bank Foundation DNB has large sums at its disposal and is a long-term and substantial player in a wide array of society’s venues. Our activities rely heavily on an excellent reputation. We perpetuate this distinction reassuringly safeguarding our assets and by seeking excellence in all our activities.
Key elements of governance at the Savings Bank Foundation DNB are:
- A solid basis for statutes, goals and strategies
- Top calibre staff
- Proven work processesIndependence in relationship to donors, partners in cooperationand other interests
- Ongoing communication and updated reports on our activities
Information about the Foundation’s bodies, donation process, awarding of grants, financial investments and socially benevolent contributions are key aspects of our external communication. Reports of our activities are published continuously in Norwegian on our web site.
Applicants, business contacts, the authorities and the general public should always have confidence in our professionalism and integrity. A Code of Ethics has thus been drawn up providing the general principles for diligence and giving sound advice to ensure independence and avoid conflicts of interest. The rules apply to all employees and to members of the Foundation’s governing bodies.
Our assets are divided into the following capital elements: Shares in DNB, which comprise the Foundation’s basic capital (130 mill. shares), other financial investments and socially beneficial investments.
Our financial investments should ensure a satisfactory return and enable the foundation to meet its future obligations related to philanthropic activities. We follow the same ethical guidelines as the Government Pension Fund (the Pension Fund), and in accordance with the UN Global Compact. A yearly screening of the portfolio is conducted by an external and independent advisor.
Principles of DNB ownership
We are the largest private shareholder of DNB, with an ownership of ca. 9,5 percent. The core of our ownership is our basic equity of 130 mill shares.
We will carry on as a stable and long-term owner. Our ownership relies on DNB enduring as Norway’s most significant financial group and maintaining its active role in development of Norwegian society.
The Foundation’s work objectives within charitable activities hinge on strong, stable profits. Therefore we want DNB’s activities to be run with good profitability and low risks. We do not want goals of short-term and long-term share price developments to be achieved to the detriment of solid, reliable dividend payments.
We will actively seek positions in DNB’s governing bodies commensurate with our shareholdings, as deemed appropriate with regard to our goals and ambitions.
Our ownership in DNB must be followed up by active participation, including demands on key aspects of the concern’s activities. Our demands and expectations are to be made clear to the concern and published on our web pages.
An evaluation is made annually regarding risks of losses, oversights or deficiencies in the Foundation and its activities. Risk-reducing measures are initiated when this assessment uncovers needs for improvements. The risk situation is periodically presented to the board.