Nordic bank DNB is restructuring the organisation of its wealth management unit to be more competitive.

The Norwegian bank is to separate its personal and corporate banking businesses and reunite its private banking and asset management units under the wealth management banner.

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With €61bn under management ($81bn), DNB will be creating a risk management division to independently support the other units of the bank.

Changes are expected to be implemented by 1 April 2013.

DNB recorded profits of NOK3.5bn (about $632m) in the third quarter of 2012, up from NOK2.5bn ($449m) year on year.