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Bank DNB Q1 beats forecast, but unlikely to reach full-year return target

OSLO, April 29 (Reuters) - Norway’s DNB, which recently launched a bid for rival Sbanken, reported a bigger-than-expected rise in first-quarter earnings on Thursday but said it was unlikely to reach its return on equity target for the year.

The banking group’s net profit rose to 5.89 billion Norwegian crowns ($720.8 million) for the January-March period from 4.0 billion crowns a year ago, beating an average forecast of 4.93 billion crowns in a Refinitiv poll of analysts. ($1 = 8.1710 Norwegian crowns) (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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