Dnb Bank Asa · OSL:DNB

Dnb Bank Asa — Q4 2025 Earnings Presentation

22 slides from Dnb Bank Asa's earnings presentation, Feb 4, 2026

  1. Slide 1: Results DNB Group Fourth quarter 2025

    Results DNB Group Fourth quarter 2025 Kjerstin R. Braathen (CEO) Rasmus T. Figenschou (CFO) Q4 4 February 2026

  2. Slide 2: Committed to delivering customer value: Selected highlights

    Committed to delivering customer value: Selected highlights No. 1 in number and volume of IPOs Improved response time for in Europe in 2025. Top-ranked in the mortgage applications by 24%. Nordics in Equities & IB. Digital savings platform Montrose Successfully launched 7 new mutual declared Bank of

  3. Slide 3: Strong performance enabling delivery on dividend policy

    Strong performance enabling delivery on dividend policy Strong performance Return on equity of 16.6 per cent in the quarter NOK billion, per cent Strong growth and activity across customer segments and product areas. 15.9 17.5 15.9 80.0 20.0 18.0 70.0 54.9 53.4 Net interest income up 1.2 per cent fr

  4. Slide 4: Robust Norwegian economy with positive growth outlook

    Robust Norwegian economy with positive growth outlook  Mainland GDP growth expected to be 1.5 per cent in 2026, with positive growth outlook throughout forecast period  Inflation down – expected real wage growth likely to drive consumption and continued growth in savings  DNB Carnegie expects one

  5. Slide 5: Resilience in earnings and high activity level across customer segments

    Resilience in earnings and high activity level across customer segments ▪ Profitable volume growth in customer segments – currency-adjusted loan growth of 4.9 per cent and deposit growth of 2.8 per cent in 2025 ▪ PC: high activity and strong performance across fee-based areas and lending – lending g

  6. Slide 6: All-time high income from DNB Carnegie and Wealth Management

    All-time high income from DNB Carnegie and Wealth Management ▪ Total income from DNB Carnegie up 18.3 per cent from 2024 – strong contribution across products, sectors and geographies ▪ Total income from Wealth Management up 41.7 per cent from 2024 – strong contribution from both asset management an

  7. Slide 7: Strong commitment to dividend policy – continued increase in dividend per share

    Strong commitment to dividend policy – continued increase in dividend per share  Dividend per share of NOK 18.00 to be proposed by Board of Directors – increase of NOK 1.25 from 2024  Total share buy-back programme of 2.5 per cent initiated for 2025, including new share buy-back programme of 0.5 p

  8. Slide 8: Profitable loan growth in all customer segments

    Profitable loan growth in all customer segments  Currency-adjusted loan growth of 2.2 per cent in the quarter (unadjusted up 2.6 per cent) ‒ up 0.3 per cent in PC, up 5.2 per cent in CCN and up 2.7 per cent in LCIC  Currency-adjusted deposits up 0.2 per cent in the quarter (unadjusted up 0.6 per c

  9. Slide 9: Stable development in net interest margin

    Stable development in net interest margin Net interest margin1 Spreads in customer segments Per cent Per cent 1.90 1.89 1.90 1.94 1.90 1.87 1.85 1.81 1.80 1.73 1.67 1.72 1.66 1.62 1.62 1.65 1.61 1.50 1.42 1.43 1.40 1.39 1.39 1.36 1.35 1.35 1.29 1.31 1.18 1.04 2 1.07 1.03 0.90 0.95 0.84 0.86 4Q23 1Q2

  10. Slide 10: Net interest income up 1.2 per cent

    Net interest income up 1.2 per cent Net interest income NOK million 1 476 16 179 15 990 42 47 87 40 (504) 2 3Q25 Spreads Interest on Treasury effects Volumes and Amortisation Other 4Q25 equity currencies effects and fees 1 Effect of repricings, portfolio development and product mix effects. 2 Of whi

  11. Slide 11: Commissions and fees – up 40.3 per cent from corresponding quarter last year

    Commissions and fees – up 40.3 per cent from corresponding quarter last year Commissions and fees NOK million / Change in per cent from 4Q24 4 612 Real estate broking +6% 241 Result reflecting higher market activity. 3 916 Investment banking services 289 Particularly strong deliveries within ECM dri

  12. Slide 12: Operating expenses driven by strong performance and seasonally high activity

    Operating expenses driven by strong performance and seasonally high activity  Non-recurring cost of NOK 200 million in the quarter Operating expenses NOK million 200 40 9 361 129 79 43 330 57 8 483 3Q25 Variable Fixed Fees and IT Training Non-recurring Other 4Q25 salaries salaries marketing and tra

  13. Slide 13: Underlying operating expenses up 2.6 per cent in 2025

    Underlying operating expenses up 2.6 per cent in 2025  Core inflation of 3.1 per cent in 2025  Gross reduction of 614 full-time equivalents in 2025 Operating expenses NOK million 433 259 220 250 20 34 476 33 588 ( 284) 2024 1 Fees Variable Pension Carnegie Restructuring Other 2025 and IT salary in

  14. Slide 14: 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  Personal customer portfolio – continued strong credit quality  Corporate customer portfolio – increase in stage 3 impairment provisions relating to customer-specific events Impairment of financial instruments by customer segm

  15. Slide 15: Continued strong capital position

    Continued strong capital position  CET1 capital ratio of 17.9 per cent – 160 basis-point headroom to the Financial Supervisory Authority’s (FSA’s) current expectation  NOK 1.5 billion repayment of excess capital from DNB Livsforsikring in 4Q25, ordinary dividend of NOK 1.9 billion to be paid in 1Q

  16. Slide 16: Solid fourth quarter result

    Solid fourth quarter result Return on equity Cost/income ratio Earnings per share Per cent Per cent NOK 19.0 39.7 8.21 16.6 37.9 15.8 37.4 7.65 6.98 4Q24 3Q25 4Q25 4Q24 3Q25 4Q25 4Q24 3Q25 4Q25 16

  17. Slide 17: Appendix

    Appendix

  18. Slide 18: Income statement

    Income statement Change Change NOK million 4Q25 3Q25 4Q24 from 3Q25 from 4Q24 Net interest income 16 179 15 990 16 718 188 (540) Other operating income 7 376 6 700 4 998 676 2 378 Total income 23 555 22 691 21 716 864 1 839 Operating expenses (9 361) (8 483) (8 227) (878) (1 134) Pre-tax operating p

  19. Slide 19: Other operating income

    Other operating income Change Change NOK million 4Q25 3Q25 4Q24 from 3Q25 from 4Q24 Net commissions and fees 4 612 3 916 3 287 696 1 325 Customer revenues in DNB Carnegie 930 700 894 230 36 Trading revenues in DNB Carnegie 131 97 268 34 (137) Hedging of defined-benefit pension scheme 45 91 (5) (46)

  20. Slide 20: 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

  21. Slide 21: Q&A

    Q&A

  22. Slide 22: Slide 22

DNB Bank — Q4 2025 Earnings Presentation on 6ix