Dnb Bank Asa · OSL:DNB
Dnb Bank Asa — Q3 2025 Earnings Presentation
20 slides from Dnb Bank Asa's earnings presentation, Oct 22, 2025
Slide 1: Results DNB Group Third quarter 2025
Results DNB Group Third quarter 2025 Kjerstin R. Braathen (CEO) Ida Lerner (CFO) Q3 22 October 2025
Slide 2: Committed to delivering customer value: Key highlights from Q3
Committed to delivering customer value: Key highlights from Q3 Lead adviser in Verisure’s IPO – AUM hit NOK 1 579 billion – new Europe’s largest listing since 2022 high, even after sale of Holberg Fully digital process for establishing Successfully launched 4 new mutual private limited companies lau
Slide 3: Solid third quarter result – return on equity of 15.8 per cent in the quarter
Solid third quarter result – return on equity (ROE) of 15.8 per cent in the quarter Net interest income down 1.0 per cent from 2Q25 Strong performance Impacted by key policy rate cut, customer repricing and product mix effects. NOK billion, per cent Profitable currency adjusted loan growth of 0.3 pe
Slide 4: Norwegian economy remains resilient – growth is picking up
Norwegian economy remains resilient – growth is picking up Regional Network survey indicates positive outlook on growth and investment sentiment Declining inflation, solid real wage growth and high employment expected to boost consumer spending and savings growth DNB Carnegie expects one addit
Slide 5: Strong profitability in all segments – increasing activity throughout the quarter
Strong profitability in all segments – increasing activity throughout the quarter Loan growth 2.7 per cent year over year in PC, strong finish to the quarter – solid cross-sales activity, net other income up 30.6 per cent from 3Q24 Other income in CCN up 7.4 per cent from 2Q25, strong contributi
Slide 6: Building on our strengthened growth platform in the Nordics
Building on our strengthened growth platform in the Nordics DNB Carnegie solidifies its position as the leading Nordic investment Bank – advised on 3 of the 4 largest IPOs in Europe 2025 YTD Leading equity research house with top position in 16 out of 21 sectors1 All-time high result in Wealth
Slide 7: Continued strong momentum in PC, and seasonality impacting CCN and LCIC
Continued strong momentum in PC, and seasonality impacting CCN and LCIC Currency-adjusted loan growth of 0.3 per cent in the quarter (unadjusted stable) ‒ up 0.4 per cent in PC, stable in CCN and up 0.5 in LCIC Currency-adjusted deposits up 0.6 per cent in the quarter (unadjusted up 0.2 per cent
Slide 8: Stable combined spreads and net interest margin affected by interest on equity
Stable combined spreads and net interest margin affected by interest on equity Net interest margin1 Spreads in customer segments Per cent Per cent 1.72 1.73 1.62 1.67 1.62 1.65 1.66 1.90 1.89 1.90 1.94 1.90 1.87 1.87 1.85 1.51 1.50 1.80 1.42 1.43 1.40 1.39 1.39 1.36 1.35 1.35 1.38 1.28 1.31 1.18 2 1
Slide 9: NII down 1.0 per cent mainly due to product-mix and repricing effects
NII down 1.0 per cent mainly due to product-mix and repricing effects Interest on equity affected by lower money market rates in the quarter and lower average equity Partial effect of first customer repricing implemented on 25 August DNB announcement of one additional repricing, effective 18 N
Slide 10: Commissions and fees – up 28.9 per cent from corresponding quarter last year
Commissions and fees – up 28.9 per cent from corresponding quarter last year Commissions and fees NOK million / Change in per cent from 3Q24 4 370 Real estate broking +9% Result reflecting higher market activity. 357 3 916 289 Investment banking services Strong performance from ECM and DCM in a seas
Slide 11: Operating expenses reflecting seasonally lower activity level
Operating expenses reflecting seasonally lower activity level One-off effects in the quarter: NOK 25 million relating to reduction in full-time equivalents and ~NOK 30 million relating to Carnegie integration cost Seasonally low fixed salaries relating to NOK 45 million holiday pay disbursement
Slide 12: Robust and well-diversified portfolio – 99.4 per cent in stages 1 and 2
Robust and well-diversified portfolio – 99.4 per cent in stages 1 and 2 Impairment provisions of NOK 862 million in the quarter – NOK 150 million relating to update of expected credit loss (ECL) model No systematic negative migration within any segment or industry Impairment of financial instrum
Slide 13: Continued strong capital position
Continued strong capital position CET1 capital ratio of 17.9 per cent – 135 basis point (bps) headroom to FSA’s current expectation Solid profit generation increased CET1 capital ratio by ~30 bps, offset by higher risk weight floors on mortgages introduced on 1 July (~60 bps as expected) Annou
Slide 14: Solid third quarter result
Solid third quarter result Return on equity Earnings per share Cost/income ratio Per cent NOK Per cent 7.83 38.8 18.9 37.4 6.79 6.98 15.8 32.5 15.4 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 14
Slide 15: Appendix
Appendix
Slide 16: Income statement
Income statement Change Change NOK million 3Q25 2Q25 3Q24 from 2Q25 from 3Q24 Net interest income 15 990 16 152 16 129 (162) (139) Other operating income 6 700 6 339 6 722 361 (22) Total income 22 691 22 491 22 851 200 (160) Operating expenses (8 483) (8 725) (7 431) 242 (1 051) Pre-tax operating pr
Slide 17: Other operating income
Other operating income Change Change NOK million 3Q25 2Q25 3Q24 from 2Q25 from 3Q24 Net commissions and fees 3 916 4 370 3 038 (454) 879 Customer revenues in DNB Carnegie 700 898 921 (198) (221) Trading revenues in DNB Carnegie 97 189 138 (93) (42) Hedging of defined-benefit pension scheme 91 118 42
Slide 18: Disclaimer
DISCLAIMER CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS The statements contained in this presentation may include forward-looking statements, such as statements of future expectations. These statements are based on the management’s current views and assumptions and involve both known and unk
Slide 19: Q&A
Q&A
Slide 20: Slide 20