DnB was created as a merger between Bergen Bank and Den norske Creditbank in 1990 after a major downturn in the economy, especially affecting the banks, who lost vast amounts of money due to misheld loans and falling housing prices.

The state held a majority ownership in the bank in addition to its being listed on the Oslo Stock Exchange.

In 1996, DnB bought Vital Forsikring and in 1999 it merged with Postbanken.

[1] The cost of the change was estimated at between NOK 150 and 170 million.

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