Slide 1: Results DNB Group Fourth quarter 2024
Results DNB Group Fourth quarter 2024 Kjerstin R. Braathen (CEO) Ida Lerner (CFO) 5 February 2025
Slide 2: Strong performance in all customer segments
Strong performance in all customer segments Return on equity of 19.0 per cent in the quarter Return on equity Per cent, trailing 12-month figures Driven by strong growth and activity across customer segments and product areas. 16.1 per cent adjusted for low tax rate in the quarter. 17.5 16.6 16.4 Ne
Slide 3: Solid outlook for the Norwegian economy
Solid outlook for the Norwegian economy Moderate growth expected in the mainland economy with low unemployment rate throughout the forecasting period Continued decline in inflation levels, with positive real wage development expected from 2024 onwards First key policy rate cut anticipated in M
Slide 4: High level of activity across all customer segments
High level of activity across all customer segments Personal customers: high activity and strong performance in all areas, lending growth of 1.7 per cent in second half of 2024 Corporate customers Norway: solid growth in loans and deposits and high cross-sales activity, other income up 18.8 per
Slide 5: All-time high income from Wealth Management and DNB Markets
All-time high income from Wealth Management and DNB Markets Continued growth in AUM1 – up NOK 183 billion from 4Q23 – positive net in-flow from both retail and institutional customers of NOK 34 billion Customer income from DNB Markets of NOK 8.3 billion in 2024, up 19.0 per cent from 2023 – stro
Slide 6: Key figures reflecting high activity and solid performance across the Group
Key figures reflecting high activity and solid performance across the Group Profit for the year Cost/income ratio Earnings per share NOK million Per cent NOK 45 804 43.0 29.34 39 479 41.5 39.0 24.83 33 438 35.0 35.2 21.02 25 355 15.74 19 840 12.04 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 20
Slide 7: Social impact and customer focus highlights
Proposed dividend of 46% of Norwegian population actively Mobilised a cumulative total of 2.2 BNOK uses DNB’s digital channels 752 BNOK to the DNB Savings Bank Foundation for 20241 at the end of 2024 to the sustainable transition, Making a social Staying close toimpact our through lending and facili
Slide 8: 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 16.75 to be proposed by Board of Directors – increase of NOK 0.75 from 2023 Total share buy-back programme of 1.0 per cent initiated in 2024 – completed in September 2024 Board of Director
Slide 9: Solid growth in loans and deposits in all customer segments
Solid growth in loans and deposits in all customer segments Loan growth of 2.5 per cent in the quarter ‒ up 0.8 per cent in Personal customers (PC), 1.4 in Corporate customers Norway (CCN), 7.0 in Large corporates and international customers (LCIC) Deposit growth of 4.7 per cent in the quarter ‒
Slide 10: Positive development in net interest margin and stable combined spreads
Positive development in net interest margin and stable combined spreads Net interest margin1 Spreads in customer segments Per cent Per cent 1.62 1.67 1.62 1.65 1.61 1.90 1.89 1.90 1.94 1.81 1.87 1.87 1.51 1.50 1.43 1.78 1.29 1.40 1.40 1.40 1.39 1.39 1.70 1.30 1.38 1.37 1.42 1.31 1.34 1.28 1.31 1.14
Slide 11: Net interest income up 3.7 per cent from 3Q24
Net interest income up 3.7 per cent from 3Q24 Net interest income NOK million 173 41 16 718 182 205 43 16 129 (55) 3Q24 Spreads Volumes Currency Amortisation Treasury Interest on 4Q24 effects and equity fees 11
Slide 12: Commissions and fees – all-time high fourth quarter result
Commissions and fees – all-time high fourth quarter result Commissions and fees NOK million / Change in per cent from 4Q23 3 287 +10.0 Real estate broking 3 038 228 Result reflecting higher market activity. 2 927 265 Investment banking services 207 +31.7 Strong result mainly driven by high activity
Slide 13: Operating expenses driven by non-recurring item and seasonally high activity
Operating expenses driven by non-recurring item and seasonally high activity Operating expenses NOK million 84 49 8 227 98 138 427 7 431 3Q24 Restructuring Variable salary IT expenses Fees, training and Other 4Q24 expenses travel expenses 13
Slide 14: Continued strong credit quality in all customer segments
Continued strong credit quality in all customer segments Impairment of financial instruments by customer segment Maximum exposure1 NOK million Changes from 3Q24 in parentheses 4Q24 3Q24 4Q23 Stage 1 Stage 2 Stage 3 Total (157) (170) (920) NOK 2 866 billion NOK 159 billion NOK 21 billion (+197) (-17)
Slide 15: Strong capital position
Strong capital position CET1 capital ratio of 19.4 per cent – 280 basis-points (bps) headroom to the Financial Supervisory Authority’s (FSA’s) current expectation NOK 1.5 billion repayment of excess capital from DNB Livsforsikring in 4Q24 – ordinary dividend of NOK ~1.5 billion to be paid in 1Q2
Slide 16: Appendix
Appendix
Slide 17: Income statement
Income statement Change Change NOK million 4Q24 3Q24 4Q23 from 3Q24 from 4Q23 Net interest income 16 718 16 129 15 997 589 721 Other operating income 4 998 6 722 3 991 (1 724) 1 006 Total income 21 716 22 851 19 988 (1 135) 1 727 Operating expenses (8 227) (7 431) (7 703) (795) (524) Pre-tax operati
Slide 18: Other operating income
Other operating income Change Change NOK million 4Q24 3Q24 4Q23 from 3Q24 from 4Q23 Net commissions and fees 3 287 3 038 2 927 249 360 Customer revenues in DNB Markets 894 921 816 (27) 78 Trading revenues in DNB Markets 268 138 222 129 45 Hedging of defined-benefit pension scheme (5) 42 82 (47) (87)
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
Slide 20: Q&A
Q&A