Dnb Bank Asa · OSL:DNB
Dnb Bank Asa — Q1 2026 Earnings Presentation
20 slides from Dnb Bank Asa's earnings presentation, Apr 23, 2026
Slide 1: Results DNB Group First quarter 2026
Results DNB Group First quarter 2026 Kjerstin R. Braathen (CEO) Rasmus T. Figenschou (CFO) Q1 23 April 2026
Slide 2: Committed to delivering customer value: selected highlights
Committed to delivering customer value: selected highlights Improved process for onboarding Launched new equity trading customers under the age of 18 – full platform in our savings app – already onboarding in less than 2 minutes accounting for 1 out of 4 trades Ranked no. 1 for customer Launched Sol
Slide 3: Robust first quarter result
Robust first quarter result Strong performance Return on equity of 14.0 per cent in the quarter NOK billion, per cent Strong performance across customer segments and product areas. 17.5 80.0 20.0 70.0 15.9 15.5 18.0 54.9 53.4 52.5 Net interest income down 5.4 per cent from 4Q25 16.0 60.0 10.8 14.0 5
Slide 4: Resilient Norwegian economy
Resilient Norwegian economy Mainland GDP growth expected to be 1.4 per cent in 2026, with growth expectations revised slightly downwards for 2027 Inflation expected to fall following short-term uptick – expected real wage growth likely to drive consumption and savings growth DNB Carnegie expec
Slide 5: Solid underlying performance across all customer segments in competitive markets
Solid underlying performance across all customer segments in competitive markets PC: Profitable loan growth of 1.7 per cent and deposit growth of 6.1 per cent YoY – disciplined approach to growth in a highly competitive market CCN: Profitable loan growth of 5.8 per cent YoY – other income up 28.
Slide 6: Continued strong income from DNB Carnegie and Wealth Management
Continued strong income from DNB Carnegie and Wealth Management Total income from DNB Carnegie up 9.8 per cent from 1Q25 – strong contribution across products, sectors and geographies Total income from Wealth Management up 37.5 per cent from 1Q25 – strong contribution from both asset management
Slide 7: Profitable growth in the quarter
Profitable growth in the quarter Currency-adjusted loan growth of 0.3 per cent in the quarter (unadjusted down 0.8 per cent) ‒ up 0.2 per cent in PC, down 1.2 per cent in CCN and up 2.3 per cent in LCIC Currency-adjusted deposits up 2.6 per cent in the quarter (unadjusted up 1.5 per cent) ‒ up 2
Slide 8: Margin development affected by repricing effects and strong competition
Margin development affected by repricing effects and strong competition 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 1.61 1.52 1.43 1.40 1.39 1.39 1.36 1.35 1.35 1.90 1.94 1.90 1.29 1.24 1.87 1.89 1.85 1.80 1.81 1.74 1.18 1.04 2 1.07 1.03 0.9
Slide 9: Net interest income driven by volume growth – offset by repricing, competition and seasonality
Net interest income driven by volume growth – offset by repricing, competition and seasonality Net interest income NOK million 16,179 231 (86) (449) (248) (176) 15,299 (152) 4Q25 Spreads Volume Currency Interest days Amortisation Other 1Q26 effects and fees 9
Slide 10: Commissions and fees – up 18.0 per cent from corresponding quarter last year
Commissions and fees – up 18.0 per cent from corresponding quarter last year Commissions and fees NOK million / Change in per cent from 1Q25 4,612 Real estate broking +3% 241 Strong result in a slower market. 4,129 291 Investment banking services 3,500 +38% Strong income development and high activit
Slide 11: Operating expenses reflecting seasonal activity
Operating expenses reflecting seasonal activity Operating expenses NOK million 9,361 (408) (147) 8,441 (133) (232) 4Q25 Variable IT Closed defined-benefit Other 1Q26 salaries pension scheme 1 expenses 1 The closed defined-benefit pension scheme is partly hedged and recognised in financial instrument
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 Well-diversified portfolio across industries and geographies Personal customer portfolio – continued strong credit quality Corporate customer portfolio – increase in stage 3 impairment provisions relating to customer-speci
Slide 13: Continued strong capital position
Continued strong capital position CET1 capital ratio of 18.1 per cent – 170 basis-point headroom to the FSA’s current expectation Strong profit generation and NOK 1.9 billion dividend from DNB Livsforsikring Board of Directors given authorisation by Annual General Meeting to repurchase up to 3
Slide 14: Robust first quarter results
Robust first quarter results Return on equity Cost/income ratio Earnings per share Per cent Per cent NOK 39.7 16.6 38.7 15.9 7.65 36.1 7.04 14.0 6.50 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 14
Slide 15: Appendix
Appendix
Slide 16: Income statement
Income statement Change Change NOK million 1Q26 4Q25 1Q25 from 4Q25 from 1Q25 Net interest income 15,299 16,179 16,410 (880) (1,111) Other operating income 6,494 7,376 5,503 (882) 992 Total income 21,793 23,555 21,913 (1,761) (120) Operating expenses (8,441) (9,361) (7,907) 920 (533) Pre-tax operati
Slide 17: Other operating income
Other operating income Change Change NOK million 1Q26 4Q25 1Q25 from 4Q25 from 1Q25 Net commissions and fees 4,129 4,612 3,500 (483) 629 Customer revenues in DNB Carnegie 853 930 786 (77) 67 Trading revenues in DNB Carnegie 336 131 212 205 124 Hedging of defined-benefit pension scheme 27 45 (8) (18)
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