Standard and Poor's (S&P) has raised its view on DNB Bank despite continued struggles in the wider shipping and offshore markets.

The ratings agency has shifted its outlook from negative to stable, noting stronger capitalization and an improved earnings capacity.

S&P said in a report: “The bank's capital and leverage ratios have improved even as Norway and its oil sector continue to face the consequences of low oil prices and reduced shipping and oil-related activity.”

DNB