Dnb Bank Asa · OSL:DNB

Dnb Bank Asa — Q1 2025 Earnings Presentation

21 slides from Dnb Bank Asa's earnings presentation, May 7, 2025

  1. Slide 1: Results DNB Group First quarter 2025

    Results DNB Group First quarter 2025 Kjerstin R. Braathen (CEO) Ida Lerner (CFO) Q1 7 May 2025

  2. Slide 2: Continued strong performance and well positioned for future fee-related income

    Continued strong performance and well positioned for future fee-related income Return on equity Return on equity of 15.9 per cent in the quarter Per cent, trailing 12-month figures Strong performance across customer segments and product areas. 17.5 17.6 Net interest income down 1.8 per cent from 4Q2

  3. Slide 3: Norwegian economy remains robust, with a moderate growth outlook

    Norwegian economy remains robust, with a moderate growth outlook  Moderate growth expected in mainland economy throughout forecast period  Solid activity levels expected to sustain low unemployment rates moving forward  Continued decline in inflation levels and positive wage development continue

  4. Slide 4: Built-in stabilisers in Norwegian economy provide ample room to manoeuvre

    Built-in stabilisers in Norwegian economy provide ample room to manoeuvre  Around 8 per cent of Norwegian mainland exports go to the US, 58 per cent to the EU ‒ Including oil and gas exports, around 3 per cent of Norwegian exports go to the US Strengthened cost-competitiveness Monetary policy Fisca

  5. Slide 5: Launching DNB Carnegie: leading Nordic investment bank and wealth manager

    Launching DNB Carnegie: leading Nordic investment bank and wealth manager Combined offering of market leading Estimated net profit effect of Carnegie, including synergies products and services across the Nordics SEK million Investment Banking 350 1 800 #1 #1 #1 #1 M&A ECM IG issuer HY issuer Fixed I

  6. Slide 6: Strong performance across customer segments

    Strong performance across customer segments  PC: Profitable loan and deposit growth of 0.7 and 3.7 per cent from 4Q24, respectively. Request for financing certificates up 30 per cent  CCN: Other income up 13 per cent from 1Q24 – broad product offering and increasing activity level  LCIC: Solid in

  7. Slide 7: Solid growth in loans and deposits

    Solid growth in loans and deposits  Currency-adjusted loan growth of 0.5 per cent in the quarter (unadjusted down 0.3 per cent) ‒ up 0.8 per cent in PC, 0.5 in CCN, 0.1 in LCIC  Currency-adjusted deposit growth of 3.8 per cent in the quarter (unadjusted up 2.1 per cent) ‒ up 4.1 per cent in PC, 2.

  8. Slide 8: Net interest margin reflecting increased average deposit volumes

    Net interest margin reflecting increased average deposit volumes Net interest margin1 Spreads in customer segments Per cent Per cent 1.90 1.89 1.90 1.94 1.90 1.81 1.87 1.87 1.78 1.67 1.65 1.72 1.61 1.62 1.62 1.40 1.51 1.50 1.43 1.40 1.40 1.39 1.39 1.36 1.37 1.42 1.38 1.34 1.28 1.31 1.14 1.18 1.042 1

  9. Slide 9: Net interest income driven by profitable volume growth offset by fewer interest days

    Net interest income driven by profitable volume growth offset by fewer interest days Net interest income NOK million 179 16 718 (79) (66) 16 410 (225) (99) (18) 4Q24 Spreads Volumes Treasury Interest Interest on Other 1Q25 and currency days equity 9

  10. Slide 10: Commissions and fees – all-time high first quarter result

    Commissions and fees – all-time high first quarter result Commissions and fees NOK million / Change in per cent from 1Q24 +28% Real estate broking 3 500 Result reflecting higher market activity. 3 287 282 228 Investment banking services 2 702 +83% Strong result from both DNB and Carnegie – solid fou

  11. Slide 11: Operating expenses reflecting one month of Carnegie costs and efficiency measures

    Operating expenses reflecting one month of Carnegie costs and efficiency measures Operating expenses NOK million 318 8 227 (407) 38 7 907 (205) (64) 4Q24 Carnegie Restructuring Personnel Fees and IT Other 1Q25 March 2025 expenses expenses expenses expenses 11

  12. Slide 12: Robust portfolio – 99.3 per cent in stages 1 and 2

    Robust portfolio – 99.3 per cent in stages 1 and 2  Well-diversified portfolio across industries and geographies  High-quality personal customer portfolio: ~50 per cent  No systematic negative migration within any segment or industry Impairment of financial instruments by customer segment Maximum

  13. Slide 13: Strong capital position following completed Carnegie acquisition

    Strong capital position following completed Carnegie acquisition  Strong profit generation and ordinary dividend of NOK 1.5 billion from DNB Liv. CET1 capital ratio – 180 basis-point headroom to FSA’s expectation  CET1 capital ratio outlook 2Q25: neutral combined effect of CRR3 and IRB approval fo

  14. Slide 14: Strong first quarter result

    Strong first quarter result Return on equity Earnings per share Cost/income ratio Per cent NOK Per cent 19.0 8.21 15.6 15.9 37.9 35.7 36.1 7.04 6.48 1 1Q24 4Q24 1Q25 1Q24 4Q24 1Q25 1Q24 4Q24 1Q25 1 Adjusted for normalised tax rate ROE was 16.1 per cent in 4Q24. 14

  15. Slide 15: Appendix

    Appendix

  16. Slide 16: Income statement

    Income statement Change Change NOK million 1Q25 4Q24 1Q24 from 4Q24 from 1Q24 Net interest income 16 410 16 718 15 526 (308) 884 Other operating income 5 503 4 998 4 872 505 631 Total income 21 913 21 716 20 398 197 1 515 Operating expenses (7 907) (8 227) (7 284) 319 (623) Pre-tax operating profit

  17. Slide 17: Other operating income

    Other operating income Change Change NOK million 1Q25 4Q24 1Q24 from 4Q24 from 1Q24 Net commissions and fees 3 500 3 287 2 702 213 798 Customer revenues in DNB Markets 786 894 715 (108) 71 Trading revenues in DNB Markets 212 268 227 (56) (15) Hedging of defined-benefit pension scheme (8) (5) 99 (3)

  18. Slide 18: Income statement Carnegie

    Income statement Carnegie Included in Change Change DNB Group NOK million 1Q25 4Q24 1Q24 from 4Q24 from 1Q24 March 2025 Net interest income 32 87 96 86 (10) 1 Other operating income 401 1 025 1 233 965 (208) 60 Total income 433 1 112 1 333 1 051 (221) 60 Operating expenses (318) (852) (1 112) (843)

  19. Slide 19: 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

  20. Slide 20: Q&A

    Q&A

  21. Slide 21: Slide 21

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