DNB Bank : Factbook 1Q26

About this update from Dnb Bank Asa

[{"type":"text","content":" \n \n \n Factbook 1 \n First quarter (Unaudited)\n \n \n \n DNB Group\n \n 2026 \n \n \n -2-\n \n \n Contact information \n \n \n Group Management\n \n \n Kjerstin R. Braathen, CEO Rasmus T. Figenschou, CFO\n \n For further information, please contact\n \n \n Rune Helland, Head of Investor Relations\n [email protected] \n +47 23 26 84 00\n \n \n Anne Engebretsen, Investor Relations\n [email protected] \n +47 23 26 84 08\n \n \n Thor Tellefsen, Long Term Funding\n [email protected] \n +47 23 26 84 04\n \n \n Mathias Bruvik, Head of Group Financial Reporting\n [email protected] \n +47 91 75 87 74\n \n Address\n \n \n Postal address: DNB, PO Box 1600 Sentrum, N-0021 Oslo Visiting address: Dronning Eufemias gate 30, Bjørvika, 0191 Oslo\n \n \n \n Telephone number\n \n \n +47 91 50 48 00\n \n \n \n Information on the Internet\n \n \n DNB's Investor Relations page: ir.dnb.no\n \n \n \n Financial calendar \n \n \n \n 2026\n \n \n 30 April Distribution of dividends\n \n \n 14 July Q2 2026\n \n \n 21 October Q3 2026\n \n \n \n 2027\n \n \n 4 February Q4 2026\n \n \n 19 March Annual report 2026\n \n \n 27 April Annual general meeting\n \n \n 28 April Ex-dividend date\n \n \n 29 April Q1 2027\n \n \n 7 May Distribution of dividends\n \n \n 13 July Q2 2027\n \n \n 20 October Q3 2027\n \n \n \n Statements regarding DNB's relative market positions are, unless otherwise specified, based on internal DNB analyses.\n \n \n \n Contents chapter 1 - DNB Group \n \n \n Financial results and key figures\n \n Income statement - condensed\n \n \n Income statement - quarterly figures\n \n \n Income statement - full-year figures\n \n \n Comprehensive income statement\n \n \n Balance sheet - quarterly figures\n \n \n Balance sheet - full-year figures\n \n \n Key figures - quarterly figures\n \n \n Key figures - full-year figures\n \n \n Key figures - definitions\n \n Net interest income\n \n Net interest income - split by segments\n \n \n Average volumes - split by segments\n \n \n Interest rate spreads - split by segments\n \n \n Quarterly development in average interest rate spreads\n \n \n Net interest income\n \n \n Changes in net interest income\n \n Net other operating income\n \n Net other operating income\n \n \n Net gains on financial instruments at fair value\n \n \n Profit from investments accounted for by the equity method - Fremtind\n \n Operating expenses\n \n Operating expenses\n \n \n Full-time positions based on the operational structure\n \n \n IT expenses\n \n Loans and financial commitments\n \n Loans and financial commitments to customers by industry segment\n \n \n Development in maximum exposure of loans and financial commitments to customers\n \n \n Development in accumulated impairment of loans and financial commitments to customers\n \n \n Stage 3 - development in net loans at amortised cost and financial commitments to customers\n \n \n Impairment of financial instruments\n \n Exposure at default (EAD) and risk classification\n \n Credit portfolio\n \n \n Customer segments\n \n \n Breakdown of commercial real estate\n \n \n Breakdown of shipping\n \n \n Breakdown of oil, gas and offshore\n \n \n Breakdown of power and renewables\n \n \n DNB's risk classification\n \n Liquidity, funding and shareholder structure\n \n Funding\n \n \n Redemption profile\n \n \n Minimum requirement for own funds and eligible liabilities (MREL)\n \n \n Asset encumbrance\n \n \n Liquid assets\n \n \n Liquidity Coverage Ratio (LCR)\n \n \n Net Stable Funding Ratio (NSFR)\n \n \n Credit ratings\n \n \n Major shareholders\n \n \n Ownership according to nationality\n \n \n Share buy-back programmes\n \n Capital adequacy\n \n Own funds - condensed\n \n \n Leverage ratio\n \n \n Specification of exposure at default, risk exposure amount and average risk weights\n \n \n Own funds - DNB Bank ASA and DNB Group\n \n \n Cross-sectoral financial group\n \n Contents chapter 2 - Segmental reporting \n \n \n Financial performance\n \n Extracts from income statement\n \n \n Main balance sheet items and key figures\n \n \n Key figures - Norwegian and international units\n \n Market shares\n \n DNB's market shares in Norway\n \n \n Development in market shares, loans and deposits\n \n \n DNB Livsforsikring - market shares\n \n \n DNB Asset Management - market shares retail market\n \n Personal customers (PC)\n \n Financial performance\n \n \n Key performance metrics - main customer divisions\n \n \n Risk classification of portfolio\n \n \n EAD by industry segment\n \n \n Distribution of loan to value\n \n \n DNB Boligkreditt - Average mortgage lending - volumes and spreads\n \n \n DNB Eiendom - Residential real estate broking in Norway\n \n Corporate customers Norway (CCN)\n \n Financial performance\n \n \n Risk classification of portfolio\n \n \n EAD by industry segment\n \n \n Key performance metrics - Small and medium-sized enterprises\n \n Large corporates and international customers (LCIC)\n \n Financial performance\n \n \n Risk classification of portfolio\n \n \n EAD by industry segment\n \n Other operations\n \n Financial performance\n \n Product areas\n \n \n DNB Carnegie\n \n Financial performance\n \n \n Breakdown of revenues\n \n \n Value-at-Risk\n \n DNB Livsforsikring Group\n \n Legal entity consolidated accounts and solvency capital\n \n \n Financial performance\n \n \n Non-guaranteed products income\n \n \n Guaranteed products income\n \n Asset Management\n \n Assets under management\n \n Contents chapter 3 - The Norwegian economy \n \n Basic information about Norway\n \n \n Government net financial liabilities\n \n \n GDP growth mainland Norway and unemployment rate\n \n \n Contribution to volume growth in GDP, mainland Norway\n \n \n Composition of GDP\n \n \n Composition of exports\n \n \n Key macro-economic indicators, Norway\n \n \n Credit market, 12 month percentage growth\n \n \n Deposit market, 12 month percentage growth\n \n \n House prices\n \n \n Household interest burden and debt burden\n \n \n Chapter 1 - DNB Group\n \n \n \n Financial results and key figures Net interest income\n \n \n Net other operating income Operating expenses\n \n \n Loans and financial commitments Exposure at default and risk classification Liquidity, funding and shareholder structure Capital adequacy\n \n \n Income statement - condensed 1 \n \n Amounts in NOK million\n \n \n 1Q26\n \n \n 4Q25\n \n \n 3Q25\n \n \n 2Q25\n \n \n 1Q25\n \n \n 4Q24\n \n \n 3Q24\n \n \n 2Q24\n \n \n 1Q24\n \n \n Net interest income\n \n \n 15,299\n \n \n 16,179\n \n \n 15,990\n \n \n 16,152\n \n \n 16,410\n \n \n 16,718\n \n \n 16,129\n \n \n 15,817\n \n \n 15,526\n \n \n Net commissions and fees\n \n \n 4,129\n \n \n 4,612\n \n \n 3,916\n \n \n 4,370\n \n \n 3,500\n \n \n 3,287\n \n \n 3,038\n \n \n 3,439\n \n \n 2,702\n \n \n Net gains on financial instruments at fair value 2 \n 1,197\n \n \n 1,333\n \n \n 1,387\n \n \n 519\n \n \n 1,193\n \n \n 372\n \n \n 1,660\n \n \n 1,010\n \n \n 1,183\n \n \n Net insurance result\n \n \n 486\n \n \n 547\n \n \n 521\n \n \n 357\n \n \n 280\n \n \n 467\n \n \n 318\n \n \n 433\n \n \n 203\n \n \n Other operating income\n \n \n 682\n \n \n 885\n \n \n 876\n \n \n 1,093\n \n \n 530\n \n \n 873\n \n \n 1,706\n \n \n 873\n \n \n 783\n \n \n Net other operating income 3 \n 6,494\n \n \n 7,376\n \n \n 6,700\n \n \n 6,339\n \n \n 5,503\n \n \n 4,998\n \n \n 6,722\n \n \n 5,756\n \n \n 4,872\n \n \n Total income\n \n \n 21,793\n \n \n 23,555\n \n \n 22,691\n \n \n 22,491\n \n \n 21,913\n \n \n 21,716\n \n \n 22,851\n \n \n 21,572\n \n \n 20,398\n \n \n Operating expenses\n \n \n (8,395)\n \n \n (9,312)\n \n \n (8,428)\n \n \n (8,672)\n \n \n (7,885)\n \n \n (7,792)\n \n \n (7,431)\n \n \n (7,503)\n \n \n (7,306)\n \n \n Restructuring costs and non-recurring effects\n \n \n (45)\n \n \n (49)\n \n \n (55)\n \n \n (53)\n \n \n (23)\n \n \n (435)\n \n \n (0)\n \n \n (3)\n \n \n 22\n \n \n Pre-tax operating profit before impairment\n \n \n 13,353\n \n \n 14,194\n \n \n 14,208\n \n \n 13,766\n \n \n 14,006\n \n \n 13,489\n \n \n 15,419\n \n \n 14,067\n \n \n 13,113\n \n \n Net gains on fixed and intangible assets\n \n \n 2\n \n \n 5\n \n \n 2\n \n \n 3\n \n \n 18\n \n \n 2\n \n \n 0\n \n \n (3)\n \n \n (2)\n \n \n Impairment of loans and guarantees\n \n \n (644)\n \n \n (853)\n \n \n (862)\n \n \n (677)\n \n \n (410)\n \n \n (157)\n \n \n (170)\n \n \n (560)\n \n \n (323)\n \n \n Pre-tax operating profit\n \n \n 12,711\n \n \n 13,346\n \n \n 13,347\n \n \n 13,091\n \n \n 13,614\n \n \n 13,334\n \n \n 15,250\n \n \n 13,504\n \n \n 12,789\n \n \n Tax expense\n \n \n (2,797)\n \n \n (1,884)\n \n \n (2,669)\n \n \n (2,618)\n \n \n (2,723)\n \n \n (765)\n \n \n (3,050)\n \n \n (2,701)\n \n \n (2,558)\n \n \n Profit from operations held for sale, after taxes\n \n \n (55)\n \n \n 150\n \n \n 6\n \n \n (31)\n \n \n (43)\n \n \n 106\n \n \n (40)\n \n \n (37)\n \n \n (29)\n \n \n Profit for the period\n \n \n 9,860\n \n \n 11,612\n \n \n 10,684\n \n \n 10,442\n \n \n 10,849\n \n \n 12,675\n \n \n 12,160\n \n \n 10,766\n \n \n 10,203\n \n \n Portion attributable to shareholders\n \n \n 9,466\n \n \n 11,193\n \n \n 10,268\n \n \n 10,049\n \n \n 10,434\n \n \n 12,178\n \n \n 11,632\n \n \n 10,271\n \n \n 9,789\n \n See table 1.1.2 \"Income statement\" for more details.\n \n \n See table 1.3.2 \"Net gains on financial instruments at fair value\" for specification.\n \n \n See table 1.3.1 \"Net other operating income\" for specification.\n \n \n Income statement - quarterly figures\n \n Amounts in NOK million\n \n \n 1Q26\n \n \n 4Q25\n \n \n 3Q25\n \n \n 2Q25\n \n \n 1Q25\n \n \n 4Q24\n \n \n 3Q24\n \n \n 2Q24\n \n \n 1Q24\n \n \n Interest income, effective interest method\n \n \n 37,776\n \n \n 38,914\n \n \n 40,746\n \n \n 46,136\n \n \n 45,172\n \n \n 46,021\n \n \n 46,882\n \n \n 47,571\n \n \n 46,268\n \n \n Other interest income\n \n \n 1,149\n \n \n 1,414\n \n \n 1,345\n \n \n 1,390\n \n \n 1,653\n \n \n 1,912\n \n \n 1,233\n \n \n 1,594\n \n \n 2,073\n \n \n Interest expenses, effective interest method\n \n \n (22,594)\n \n \n (23,034)\n \n \n (24,419)\n \n \n (30,206)\n \n \n (30,181)\n \n \n (31,256)\n \n \n (32,021)\n \n \n (33,203)\n \n \n (33,163)\n \n \n Other interest expenses\n \n \n (1,032)\n \n \n (1,115)\n \n \n (1,682)\n \n \n (1,168)\n \n \n (235)\n \n \n 42\n \n \n 35\n \n \n (146)\n \n \n 348\n \n \n Net interest income\n \n \n 15,299\n \n \n 16,179\n \n \n 15,990\n \n \n 16,152\n \n \n 16,410\n \n \n 16,718\n \n \n 16,129\n \n \n 15,817\n \n \n 15,526\n \n \n Commission and fee income etc.\n \n \n 5,741\n \n \n 6,254\n \n \n 5,388\n \n \n 5,804\n \n \n 4,592\n \n \n 4,356\n \n \n 3,951\n \n \n 4,354\n \n \n 3,636\n \n \n Commission and fee expenses etc.\n \n \n (1,612)\n \n \n (1,642)\n \n \n (1,472)\n \n \n (1,434)\n \n \n (1,092)\n \n \n (1,069)\n \n \n (914)\n \n \n (915)\n \n \n (934)\n \n \n Net gains on financial instruments at fair value 1 \n 1,197\n \n \n 1,333\n \n \n 1,387\n \n \n 519\n \n \n 1,193\n \n \n 372\n \n \n 1,660\n \n \n 1,010\n \n \n 1,183\n \n \n Net insurance result\n \n \n 486\n \n \n 547\n \n \n 521\n \n \n 357\n \n \n 280\n \n \n 467\n \n \n 318\n \n \n 433\n \n \n 203\n \n \n Profit from investments accounted for by the equity method 2 \n 247\n \n \n 424\n \n \n 361\n \n \n 394\n \n \n 27\n \n \n 256\n \n \n 1,016\n \n \n 258\n \n \n 188\n \n \n Net gains on investment properties\n \n \n 4\n \n \n (21)\n \n \n 5\n \n \n (2)\n \n \n 9\n \n \n 102\n \n \n 5\n \n \n (7)\n \n \n 3\n \n \n Other income\n \n \n 431\n \n \n 482\n \n \n 511\n \n \n 701\n \n \n 494\n \n \n 515\n \n \n 685\n \n \n 622\n \n \n 592\n \n \n Net other operating income\n \n \n 6,494\n \n \n 7,376\n \n \n 6,700\n \n \n 6,339\n \n \n 5,503\n \n \n 4,998\n \n \n 6,722\n \n \n 5,756\n \n \n 4,872\n \n \n Total income\n \n \n 21,793\n \n \n 23,555\n \n \n 22,691\n \n \n 22,491\n \n \n 21,913\n \n \n 21,716\n \n \n 22,851\n \n \n 21,572\n \n \n 20,398\n \n \n Salaries and other personnel expenses\n \n \n (4,941)\n \n \n (5,547)\n \n \n (5,082)\n \n \n (5,203)\n \n \n (4,590)\n \n \n (4,982)\n \n \n (4,399)\n \n \n (4,319)\n \n \n (4,261)\n \n \n Other expenses\n \n \n (2,569)\n \n \n (2,861)\n \n \n (2,460)\n \n \n (2,549)\n \n \n (2,431)\n \n \n (2,334)\n \n \n (2,123)\n \n \n (2,288)\n \n \n (2,148)\n \n \n Depreciation and impairment of fixed and intangible assets\n \n \n (930)\n \n \n (952)\n \n \n (941)\n \n \n (972)\n \n \n (886)\n \n \n (910)\n \n \n (910)\n \n \n (898)\n \n \n (875)\n \n \n Total operating expenses\n \n \n (8,441)\n \n \n (9,361)\n \n \n (8,483)\n \n \n (8,725)\n \n \n (7,907)\n \n \n (8,227)\n \n \n (7,431)\n \n \n (7,505)\n \n \n (7,284)\n \n \n Pre-tax operating profit before impairment\n \n \n 13,353\n \n \n 14,194\n \n \n 14,208\n \n \n 13,766\n \n \n 14,006\n \n \n 13,489\n \n \n 15,419\n \n \n 14,067\n \n \n 13,113\n \n \n Net gains on fixed and intangible assets\n \n \n 2\n \n \n 5\n \n \n 2\n \n \n 3\n \n \n 18\n \n \n 2\n \n \n 0\n \n \n (3)\n \n \n (2)\n \n \n Impairment of financial instruments\n \n \n (644)\n \n \n (853)\n \n \n (862)\n \n \n (677)\n \n \n (410)\n \n \n (157)\n \n \n (170)\n \n \n (560)\n \n \n (323)\n \n \n Pre-tax operating profit\n \n \n 12,711\n \n \n 13,346\n \n \n 13,347\n \n \n 13,091\n \n \n 13,614\n \n \n 13,334\n \n \n 15,250\n \n \n 13,504\n \n \n 12,789\n \n \n Tax expense\n \n \n (2,797)\n \n \n (1,884)\n \n \n (2,669)\n \n \n (2,618)\n \n \n (2,723)\n \n \n (765)\n \n \n (3,050)\n \n \n (2,701)\n \n \n (2,558)\n \n \n Profit from operations held for sale, after taxes\n \n \n (55)\n \n \n 150\n \n \n 6\n \n \n (31)\n \n \n (43)\n \n \n 106\n \n \n (40)\n \n \n (37)\n \n \n (29)\n \n \n Profit for the period\n \n \n 9,860\n \n \n 11,612\n \n \n 10,684\n \n \n 10,442\n \n \n 10,849\n \n \n 12,675\n \n \n 12,160\n \n \n 10,766\n \n \n 10,203\n \n \n Portion attributable to shareholders\n \n \n 9,466\n \n \n 11,193\n \n \n 10,268\n \n \n 10,049\n \n \n 10,434\n \n \n 12,178\n \n \n 11,632\n \n \n 10,271\n \n \n 9,789\n \n \n Portion attributable to non-controlling interests\n \n \n (9)\n \n \n 15\n \n \n 25\n \n \n (7)\n \n \n 6\n \n \n 28\n \n \n (1)\n \n \n 6\n \n \n (1)\n \n \n Portion attributable to additional Tier 1 capital holders\n \n \n 404\n \n \n 404\n \n \n 390\n \n \n 400\n \n \n 409\n \n \n 469\n \n \n 529\n \n \n 489\n \n \n 414\n \n \n Profit for the period\n \n \n 9,860\n \n \n 11,612\n \n \n 10,684\n \n \n 10,442\n \n \n 10,849\n \n \n 12,675\n \n \n 12,160\n \n \n 10,766\n \n \n 10,203\n \n \n \n Earnings/diluted earnings per share (NOK)\n \n \n \n 6.50\n \n \n \n 7.65\n \n \n \n 6.98\n \n \n \n 6.79\n \n \n \n 7.04\n \n \n \n 8.21\n \n \n \n 7.83\n \n \n \n 6.83\n \n \n \n 6.48\n \n \n Earnings per share excluding operations held for sale (NOK)\n \n \n 6.54\n \n \n 7.54\n \n \n 6.98\n \n \n 6.81\n \n \n 7.07\n \n \n 8.14\n \n \n 7.86\n \n \n 6.86\n \n \n 6.50\n \n Average exchange rates in the period:\n \n EUR/NOK USD/NOK\n \n \n 11.39\n \n \n 9.73\n \n \n 11.75\n \n \n 10.10\n \n \n 11.80\n \n \n 10.10\n \n \n 11.69\n \n \n 10.31\n \n \n 11.65\n \n \n 11.08\n \n \n 11.76\n \n \n 11.02\n \n \n 11.76\n \n \n 10.71\n \n \n 11.58\n \n \n 10.76\n \n \n 11.42\n \n \n 10.52\n \n See table 1.3.2 \"Net gains on financial instruments at fair value\" for specification.\n \n \n See table 1.3.3 for details on Fremtind.\n \n \n Income statement - full-year figures\n \n Amounts in NOK million\n \n \n 2025\n \n \n 2024\n \n \n 2023\n \n \n 2022\n \n \n 2021\n \n \n Interest income, effective interest method\n \n \n 170,969\n \n \n 186,742\n \n \n 153,550\n \n \n 75,241\n \n \n 43,997\n \n \n Other interest income\n \n \n 5,802\n \n \n 6,812\n \n \n 7,095\n \n \n 4,751\n \n \n 2,890\n \n \n Interest expenses, effective interest method\n \n \n (107,840)\n \n \n (129,643)\n \n \n (101,757)\n \n \n (29,080)\n \n \n (4,693)\n \n \n Other interest expenses\n \n \n (4,200)\n \n \n 279\n \n \n 2,658\n \n \n (2,619)\n \n \n (3,504)\n \n \n Net interest income\n \n \n 64,731\n \n \n 64,190\n \n \n 61,547\n \n \n 48,294\n \n \n 38,690\n \n \n Commission and fee income etc.\n \n \n 22,038\n \n \n 16,298\n \n \n 14,772\n \n \n 14,184\n \n \n 14,992\n \n \n Commission and fee expenses etc.\n \n \n (5,640)\n \n \n (3,832)\n \n \n (3,658)\n \n \n (3,856)\n \n \n (3,981)\n \n \n Net gains on financial instruments at fair value 1 \n 4,431\n \n \n 4,225\n \n \n 5,283\n \n \n 4,147\n \n \n 3,621\n \n \n Net financial result, life insurance (prior to IFRS 17)\n \n \n 581\n \n \n Net risk result, life insurance (prior to IFRS 17)\n \n \n 210\n \n \n Net insurance result\n \n \n 1,705\n \n \n 1,421\n \n \n 1,183\n \n \n 1,235\n \n \n 0\n \n \n Profit from investments accounted for by the equity method 2 \n 1,206\n \n \n 1,719\n \n \n 449\n \n \n 746\n \n \n 524\n \n \n Net gains on investment properties\n \n \n (10)\n \n \n 103\n \n \n 43\n \n \n (7)\n \n \n 91\n \n \n Other income\n \n \n 2,188\n \n \n 2,413\n \n \n 2,077\n \n \n 1,390\n \n \n 1,188\n \n \n Net other operating income\n \n \n 25,918\n \n \n 22,347\n \n \n 20,150\n \n \n 17,840\n \n \n 17,225\n \n \n Total income\n \n \n 90,649\n \n \n 86,537\n \n \n 81,697\n \n \n 66,133\n \n \n 55,915\n \n \n Salaries and other personnel expenses\n \n \n (20,422)\n \n \n (17,961)\n \n \n (16,320)\n \n \n (14,690)\n \n \n (13,826)\n \n \n Other expenses\n \n \n (10,302)\n \n \n (8,893)\n \n \n (8,506)\n \n \n (7,648)\n \n \n (6,845)\n \n \n Depreciation and impairment of fixed and intangible assets\n \n \n (3,751)\n \n \n (3,594)\n \n \n (3,794)\n \n \n (3,465)\n \n \n (3,363)\n \n \n Total operating expenses\n \n \n (34,476)\n \n \n (30,448)\n \n \n (28,620)\n \n \n (25,803)\n \n \n (24,034)\n \n \n Pre-tax operating profit before impairment\n \n \n 56,173\n \n \n 56,089\n \n \n 53,077\n \n \n 40,331\n \n \n 31,881\n \n \n Net gains on fixed and intangible assets\n \n \n 28\n \n \n (2)\n \n \n 11\n \n \n (24)\n \n \n (82)\n \n \n Impairment of financial instruments\n \n \n (2,803)\n \n \n (1,209)\n \n \n (2,649)\n \n \n 272\n \n \n 868\n \n \n Pre-tax operating profit\n \n \n 53,398\n \n \n 54,878\n \n \n 50,440\n \n \n 40,579\n \n \n 32,667\n \n \n Tax expense\n \n \n (9,894)\n \n \n (9,074)\n \n \n (10,811)\n \n \n (7,411)\n \n \n (7,462)\n \n \n Profit from operations held for sale, after taxes\n \n \n 82\n \n \n 0\n \n \n (149)\n \n \n 270\n \n \n 150\n \n \n Profit for the period\n \n \n 43,586\n \n \n 45,804\n \n \n 39,479\n \n \n 33,438\n \n \n 25,355\n \n \n Portion attributable to shareholders\n \n \n Portion attributable to non-controlling interests Portion attributable to additional Tier 1 capital holders\n \n \n 41,944\n \n \n 39\n \n \n 1,603\n \n \n 43,870\n \n \n 33\n \n \n 1,901\n \n \n 38,166\n \n \n 2\n \n \n 1,312\n \n \n 32,587\n \n \n 82\n \n \n 769\n \n \n 24,407\n \n \n 26\n \n \n 922\n \n \n Profit for the period\n \n \n 43,586\n \n \n 45,804\n \n \n 39,479\n \n \n 33,438\n \n \n 25,355\n \n \n \n Earnings/diluted earnings per share (NOK)\n \n \n \n 28.45\n \n \n \n 29.34\n \n \n \n 24.83\n \n \n \n 21.02\n \n \n \n 15.74\n \n \n Earnings per share excluding operations held for sale (NOK)\n \n \n 28.40\n \n \n 29.34\n \n \n 24.93\n \n \n 20.85\n \n \n 15.65\n \n Average exchange rates in the period:\n \n EUR/NOK\n \n \n 11.67\n \n \n 11.63\n \n \n 11.41\n \n \n 10.10\n \n \n 10.17\n \n \n USD/NOK\n \n \n 10.69\n \n \n 10.75\n \n \n 10.56\n \n \n 9.61\n \n \n 8.59\n \n See table 1.3.2 \"Net gains on financial instruments at fair value\" for specification.\n \n \n See table 1.3.3 for details on Fremtind.\n \n \n Comprehensive income statement\n \n Amounts in NOK million\n \n \n 1Q26\n \n \n 4Q25\n \n \n 3Q25\n \n \n 2Q25\n \n \n 1Q25\n \n \n 4Q24\n \n \n 3Q24\n \n \n 2Q24\n \n \n 1Q24\n \n \n Profit for the period\n \n \n 9,860\n \n \n 11,612\n \n \n 10,684\n \n \n 10,442\n \n \n 10,849\n \n \n 12,675\n \n \n 12,160\n \n \n 10,766\n \n \n 10,203\n \n \n Actuarial gains and losses\n \n \n 0\n \n \n 125\n \n \n 207\n \n \n Property revaluation\n \n \n (0)\n \n \n 5\n \n \n (8)\n \n \n 3\n \n \n (0)\n \n \n 5\n \n \n 0\n \n \n (16)\n \n \n Financial liabilities designated at fair value through profit or loss, changes in credit risk\n \n \n \n (13)\n \n \n \n (17)\n \n \n \n (10)\n \n \n \n (13)\n \n \n \n 1\n \n \n \n (1)\n \n \n \n (8)\n \n \n \n (37)\n \n \n \n (30)\n \n \n Tax\n \n \n 3\n \n \n (22)\n \n \n 2\n \n \n 3\n \n \n (0)\n \n \n (50)\n \n \n 2\n \n \n 9\n \n \n 8\n \n \n Items that will not be reclassified to the income statement\n \n \n (9)\n \n \n 91\n \n \n (16)\n \n \n (7)\n \n \n 1\n \n \n 161\n \n \n (6)\n \n \n (44)\n \n \n (23)\n \n \n Currency translation of foreign operations\n \n \n Currency translation reserve reclassified to the income statement Hedging of net investments\n \n \n Financial assets at fair value through OCI\n \n \n Tax\n \n \n (5,532)\n \n \n \n 4,370\n \n \n 12\n \n \n (1,094)\n \n \n 1,937\n \n \n \n (1,612)\n \n \n 131\n \n \n 370\n \n \n (1,771)\n \n \n \n 1,325\n \n \n 204\n \n \n (382)\n \n \n 528\n \n \n \n (439)\n \n \n 13\n \n \n 106\n \n \n (4,054)\n \n \n (1)\n \n \n 3,200\n \n \n 196\n \n \n (849)\n \n \n 2,590\n \n \n \n (1,987)\n \n \n (270)\n \n \n 564\n \n \n 1,898\n \n \n \n (1,527)\n \n \n (76)\n \n \n 401\n \n \n (1,328)\n \n \n (29)\n \n \n 1,016\n \n \n 88\n \n \n (276)\n \n \n 3,991\n \n \n \n (3,188)\n \n \n 449\n \n \n 685\n \n \n \n Items that may subsequently be reclassified to the income statement\n \n \n \n (2,245)\n \n \n \n 826\n \n \n \n (624)\n \n \n \n 209\n \n \n \n (1,509)\n \n \n \n 896\n \n \n \n 695\n \n \n \n (529)\n \n \n \n 1,937\n \n \n Other comprehensive income for the period\n \n \n (2,254)\n \n \n 917\n \n \n (639)\n \n \n 202\n \n \n (1,508)\n \n \n 1,057\n \n \n 690\n \n \n (573)\n \n \n 1,914\n \n \n Comprehensive income for the period\n \n \n 7,607\n \n \n 12,529\n \n \n 10,044\n \n \n 10,644\n \n \n 9,341\n \n \n 13,732\n \n \n 12,850\n \n \n 10,194\n \n \n 12,117\n \n Full-year figures\n \n Amounts in NOK million\n \n \n 2025\n \n \n 2024\n \n \n 2023\n \n \n 2022\n \n \n 2021\n \n \n Profit for the period\n \n \n 43,586\n \n \n 45,804\n \n \n 39,479\n \n \n 33,438\n \n \n 25,355\n \n \n Actuarial gains and losses\n \n \n 125\n \n \n 207\n \n \n (291)\n \n \n 414\n \n \n (183)\n \n \n Property revaluation\n \n \n (0)\n \n \n (11)\n \n \n 2\n \n \n 5\n \n \n 212\n \n \n Items allocated to customers, life insurance (prior to IFRS 17)\n \n \n (193)\n \n \n Financial liabilities designated at fair value through profit or loss, changes in credit risk\n \n \n (39)\n \n \n (75)\n \n \n (102)\n \n \n 140\n \n \n 29\n \n \n Tax\n \n \n (16)\n \n \n (31)\n \n \n 99\n \n \n (131)\n \n \n 41\n \n \n Items that will not be reclassified to the income statement\n \n \n 69\n \n \n 89\n \n \n (292)\n \n \n 428\n \n \n (93)\n \n \n Currency translation of foreign operations\n \n \n (3,360)\n \n \n 7,150\n \n \n 4,950\n \n \n 3,275\n \n \n (1,018)\n \n \n Currency translation reserve reclassified to the income statement\n \n \n (1)\n \n \n (29)\n \n \n (5,213)\n \n \n 0\n \n \n Hedging of net investments\n \n \n 2,474\n \n \n (5,686)\n \n \n (3,845)\n \n \n (2,878)\n \n \n 680\n \n \n Hedging reserve reclassified to the income statement\n \n \n 5,137\n \n \n Financial assets at fair value through OCI\n \n \n 545\n \n \n 191\n \n \n (147)\n \n \n (704)\n \n \n (101)\n \n \n Tax\n \n \n (755)\n \n \n 1,374\n \n \n 998\n \n \n 900\n \n \n (148)\n \n \n Tax reclassified to the income statement\n \n \n (1,284)\n \n \n Items that may subsequently be reclassified to the income statement\n \n \n (1,098)\n \n \n 3,000\n \n \n 1,955\n \n \n (767)\n \n \n (587)\n \n \n Other comprehensive income for the period\n \n \n (1,029)\n \n \n 3,089\n \n \n 1,663\n \n \n (340)\n \n \n (681)\n \n \n Comprehensive income for the period\n \n \n 42,558\n \n \n 48,893\n \n \n 41,142\n \n \n 33,098\n \n \n 24,674\n \n Balance sheet - quarterly figures\n \n Amounts in NOK million\n \n \n 31 March\n \n \n 2026\n \n \n 31 Dec.\n \n \n 2025\n \n \n 30 Sept.\n \n \n 2025\n \n \n 30 June\n \n \n 2025\n \n \n 31 March\n \n \n 2025\n \n \n 31 Dec.\n \n \n 2024\n \n \n 30 Sept.\n \n \n 2024\n \n \n 30 June\n \n \n 2024\n \n \n 31 March\n \n \n 2024\n \n \n Assets\n \n \n Cash and deposits with central banks\n \n \n 281,216\n \n \n 162,780\n \n \n 226,525\n \n \n 434,618\n \n \n 545,441\n \n \n 147,944\n \n \n 590,605\n \n \n 542,410\n \n \n 821,623\n \n \n Due from credit institutions\n \n \n 172,461\n \n \n 111,809\n \n \n 101,246\n \n \n 117,428\n \n \n 152,220\n \n \n 165,563\n \n \n 160,038\n \n \n 181,926\n \n \n 123,057\n \n \n Loans to customers¹\n \n \n 2,357,621\n \n \n 2,403,340\n \n \n 2,467,848\n \n \n 2,290,686\n \n \n 2,323,370\n \n \n 2,251,513\n \n \n 2,074,352\n \n \n 2,011,602\n \n \n 2,008,528\n \n \n Commercial paper and bonds at fair value\n \n \n 487,031\n \n \n 529,301\n \n \n 517,787\n \n \n 512,722\n \n \n 523,783\n \n \n 574,896\n \n \n 534,679\n \n \n 468,962\n \n \n 472,983\n \n \n Shareholdings\n \n \n 38,663\n \n \n 37,051\n \n \n 34,707\n \n \n 32,461\n \n \n 30,277\n \n \n 33,107\n \n \n 31,725\n \n \n 31,386\n \n \n 29,525\n \n \n Assets, customers bearing the risk\n \n \n 245,958\n \n \n 245,788\n \n \n 232,628\n \n \n 217,718\n \n \n 203,569\n \n \n 202,255\n \n \n 196,648\n \n \n 187,007\n \n \n 179,450\n \n \n Financial derivatives\n \n \n 127,724\n \n \n 101,839\n \n \n 105,211\n \n \n 107,403\n \n \n 119,397\n \n \n 141,144\n \n \n 114,526\n \n \n 126,265\n \n \n 141,311\n \n \n Investment property\n \n \n 5,883\n \n \n 5,783\n \n \n 5,937\n \n \n 6,328\n \n \n 7,348\n \n \n 8,205\n \n \n 8,571\n \n \n 8,945\n \n \n 9,206\n \n \n Investments accounted for by the equity method²\n \n \n 17,851\n \n \n 17,886\n \n \n 17,366\n \n \n 16,984\n \n \n 19,212\n \n \n 19,462\n \n \n 19,406\n \n \n 18,187\n \n \n 18,953\n \n \n Intangible assets\n \n \n 21,412\n \n \n 22,178\n \n \n 21,761\n \n \n 22,227\n \n \n 22,128\n \n \n 10,735\n \n \n 10,585\n \n \n 10,461\n \n \n 10,452\n \n \n Deferred tax assets\n \n \n 225\n \n \n 249\n \n \n 289\n \n \n 294\n \n \n 298\n \n \n 687\n \n \n 392\n \n \n 390\n \n \n 395\n \n \n Fixed assets\n \n \n 20,595\n \n \n 21,102\n \n \n 21,141\n \n \n 21,583\n \n \n 21,855\n \n \n 21,006\n \n \n 21,421\n \n \n 21,635\n \n \n 21,832\n \n \n Assets held for sale\n \n \n 1,758\n \n \n 1,926\n \n \n 2,081\n \n \n 2,022\n \n \n 2,029\n \n \n 1,399\n \n \n 1,395\n \n \n 1,197\n \n \n 1,220\n \n \n Other assets\n \n \n 58,717\n \n \n 34,256\n \n \n 46,624\n \n \n 53,306\n \n \n 59,315\n \n \n 36,210\n \n \n 87,614\n \n \n 67,014\n \n \n 57,874\n \n \n Total assets\n \n \n 3,837,114\n \n \n 3,695,290\n \n \n 3,801,152\n \n \n 3,835,781\n \n \n 4,030,241\n \n \n 3,614,125\n \n \n 3,851,957\n \n \n 3,677,388\n \n \n 3,896,408\n \n \n Liabilities and equity\n \n \n Due to credit institutions\n \n \n 410,197\n \n \n 330,635\n \n \n 381,248\n \n \n 376,911\n \n \n 495,523\n \n \n 237,089\n \n \n 413,816\n \n \n 331,847\n \n \n 429,290\n \n \n Deposits from customers\n \n \n 1,553,850\n \n \n 1,521,872\n \n \n 1,536,884\n \n \n 1,552,606\n \n \n 1,625,502\n \n \n 1,487,763\n \n \n 1,573,719\n \n \n 1,565,330\n \n \n 1,565,992\n \n \n Financial derivatives\n \n \n 134,331\n \n \n 102,035\n \n \n 110,760\n \n \n 93,366\n \n \n 123,855\n \n \n 117,032\n \n \n 108,672\n \n \n 123,472\n \n \n 130,855\n \n \n Debt securities issued\n \n \n 765,280\n \n \n 787,164\n \n \n 825,673\n \n \n 872,400\n \n \n 849,551\n \n \n 854,765\n \n \n 837,010\n \n \n 773,133\n \n \n 853,808\n \n \n Liabilities, customers bearing the risk\n \n \n 245,958\n \n \n 245,788\n \n \n 232,628\n \n \n 217,718\n \n \n 203,569\n \n \n 202,255\n \n \n 196,648\n \n \n 187,007\n \n \n 179,450\n \n \n Insurance liabilities\n \n \n 186,287\n \n \n 189,236\n \n \n 189,585\n \n \n 191,725\n \n \n 189,035\n \n \n 189,877\n \n \n 193,920\n \n \n 192,598\n \n \n 193,121\n \n \n Payable taxes\n \n \n 15,470\n \n \n 13,125\n \n \n 9,521\n \n \n 7,171\n \n \n 5,775\n \n \n 3,115\n \n \n 6,014\n \n \n 4,760\n \n \n 10,496\n \n \n Deferred taxes\n \n \n 3,011\n \n \n 3,006\n \n \n 5,075\n \n \n 5,029\n \n \n 5,001\n \n \n 4,823\n \n \n 2,746\n \n \n 2,700\n \n \n 2,746\n \n \n Other liabilities\n \n \n 73,519\n \n \n 50,131\n \n \n 71,500\n \n \n 72,255\n \n \n 81,667\n \n \n 70,589\n \n \n 92,209\n \n \n 83,878\n \n \n 102,798\n \n \n Liabilities held for sale\n \n \n 442\n \n \n 548\n \n \n 475\n \n \n 432\n \n \n 442\n \n \n 548\n \n \n 385\n \n \n 387\n \n \n 451\n \n \n Provisions\n \n \n 1,082\n \n \n 1,315\n \n \n 1,339\n \n \n 1,361\n \n \n 1,504\n \n \n 1,598\n \n \n 1,128\n \n \n 1,213\n \n \n 1,315\n \n \n Pension commitments\n \n \n 6,060\n \n \n 6,077\n \n \n 5,966\n \n \n 5,776\n \n \n 5,607\n \n \n 5,594\n \n \n 5,849\n \n \n 5,698\n \n \n 5,585\n \n \n Senior non-preferred bond\n \n \n 106,627\n \n \n 112,476\n \n \n 110,708\n \n \n 125,719\n \n \n 114,816\n \n \n 119,484\n \n \n 104,805\n \n \n 102,363\n \n \n 103,730\n \n \n Subordinated loan capital\n \n \n 34,126\n \n \n 36,026\n \n \n 35,740\n \n \n 36,693\n \n \n 35,441\n \n \n 36,269\n \n \n 34,924\n \n \n 33,575\n \n \n 34,168\n \n \n Total liabilities\n \n \n 3,536,239\n \n \n 3,399,434\n \n \n 3,517,102\n \n \n 3,559,163\n \n \n 3,737,286\n \n \n 3,330,800\n \n \n 3,571,845\n \n \n 3,407,963\n \n \n 3,613,803\n \n \n \n Additional Tier 1 capital\n \n \n \n 23,583\n \n \n \n 23,380\n \n \n \n 21,883\n \n \n \n 22,045\n \n \n \n 22,135\n \n \n \n 21,916\n \n \n \n 30,301\n \n \n \n 30,176\n \n \n \n 25,259\n \n \n Non-controlling interests\n \n \n 558\n \n \n 705\n \n \n 688\n \n \n 671\n \n \n 691\n \n \n 218\n \n \n 190\n \n \n 157\n \n \n 167\n \n \n Share capital\n \n \n 18,165\n \n \n 18,262\n \n \n 18,348\n \n \n 18,449\n \n \n 18,533\n \n \n 18,533\n \n \n 18,533\n \n \n 18,638\n \n \n 18,862\n \n \n Share premium\n \n \n 18,733\n \n \n 18,733\n \n \n 18,733\n \n \n 18,733\n \n \n 18,733\n \n \n 18,733\n \n \n 18,733\n \n \n 18,733\n \n \n 18,733\n \n \n Other equity\n \n \n 239,836\n \n \n 234,775\n \n \n 224,397\n \n \n 216,720\n \n \n 232,863\n \n \n 223,925\n \n \n 212,354\n \n \n 201,721\n \n \n 219,584\n \n \n Total equity\n \n \n 300,875\n \n \n 295,855\n \n \n 284,050\n \n \n 276,618\n \n \n 292,955\n \n \n 283,325\n \n \n 280,112\n \n \n 269,425\n \n \n 282,605\n \n \n Total liabilities and equity\n \n \n 3,837,114\n \n \n 3,695,290\n \n \n 3,801,152\n \n \n 3,835,781\n \n \n 4,030,241\n \n \n 3,614,125\n \n \n 3,851,957\n \n \n 3,677,388\n \n \n 3,896,408\n \n Exchange rates at the end of the period:\n \n EUR/NOK USD/NOK\n \n \n 11.24\n \n \n 9.74\n \n \n 11.83\n \n \n 10.08\n \n \n 11.70\n \n \n 9.97\n \n \n 11.86\n \n \n 10.13\n \n \n 11.40\n \n \n 10.55\n \n \n 11.78\n \n \n 11.35\n \n \n 11.76\n \n \n 10.53\n \n \n 11.40\n \n \n 10.66\n \n \n 11.65\n \n \n 10.78\n \n Of which repo trading volumes\n \n \n See table 1.3.3 for details on Fremtind.\n \n \n 257,566 287,558 402,777 226,731 296,523 221,435 92,948 61,872 62,695\n \n \n Balance sheet - full-year figures\n \n Amounts in NOK million\n \n \n 31 Dec.\n \n \n 2025\n \n \n 31 Dec.\n \n \n 2024\n \n \n 31 Dec.\n \n \n 2023\n \n \n 31 Dec.\n \n \n 2022\n \n \n 31 Dec.\n \n \n 2021\n \n \n Assets\n \n \n Cash and deposits with central banks\n \n \n 162,780\n \n \n 147,944\n \n \n 331,408\n \n \n 309,988\n \n \n 296,727\n \n \n Due from credit institutions\n \n \n 111,809\n \n \n 165,563\n \n \n 94,259\n \n \n 20,558\n \n \n 44,959\n \n \n Loans to customers¹\n \n \n 2,403,340\n \n \n 2,251,513\n \n \n 1,997,363\n \n \n 1,961,464\n \n \n 1,744,922\n \n \n Commercial paper and bonds at fair value\n \n \n 529,301\n \n \n 574,896\n \n \n 569,464\n \n \n 485,440\n \n \n 425,267\n \n \n Shareholdings\n \n \n 37,051\n \n \n 33,107\n \n \n 22,281\n \n \n 33,350\n \n \n 35,297\n \n \n Assets, customers bearing the risk\n \n \n 245,788\n \n \n 202,255\n \n \n 166,722\n \n \n 138,259\n \n \n 138,747\n \n \n Financial derivatives\n \n \n 101,839\n \n \n 141,144\n \n \n 142,543\n \n \n 137,754\n \n \n 107,530\n \n \n Investment property\n \n \n 5,783\n \n \n 8,205\n \n \n 9,454\n \n \n 14,651\n \n \n 17,823\n \n \n Investments accounted for by the equity method²\n \n \n 17,886\n \n \n 19,462\n \n \n 19,100\n \n \n 19,246\n \n \n 19,549\n \n \n Intangible assets\n \n \n 22,178\n \n \n 10,735\n \n \n 10,456\n \n \n 10,273\n \n \n 5,804\n \n \n Deferred tax assets\n \n \n 249\n \n \n 687\n \n \n 388\n \n \n 510\n \n \n 649\n \n \n Fixed assets\n \n \n 21,102\n \n \n 21,006\n \n \n 21,439\n \n \n 21,254\n \n \n 21,430\n \n \n Assets held for sale\n \n \n 1,926\n \n \n 1,399\n \n \n 1,195\n \n \n 1,767\n \n \n 2,245\n \n \n Other assets\n \n \n 34,256\n \n \n 36,210\n \n \n 53,652\n \n \n 78,889\n \n \n 58,293\n \n \n Total assets\n \n \n 3,695,290\n \n \n 3,614,125\n \n \n 3,439,724\n \n \n 3,233,405\n \n \n 2,919,244\n \n \n Liabilities and equity\n \n \n Due to credit institutions\n \n \n 330,635\n \n \n 237,089\n \n \n 206,714\n \n \n 177,298\n \n \n 149,611\n \n \n Deposits from customers\n \n \n 1,521,872\n \n \n 1,487,763\n \n \n 1,422,941\n \n \n 1,396,630\n \n \n 1,247,719\n \n \n Financial derivatives\n \n \n 102,035\n \n \n 117,032\n \n \n 155,588\n \n \n 153,911\n \n \n 85,282\n \n \n Debt securities issued\n \n \n 787,164\n \n \n 854,765\n \n \n 807,928\n \n \n 737,886\n \n \n 702,759\n \n \n Liabilities, customers bearing the risk\n \n \n 245,788\n \n \n 202,255\n \n \n 166,722\n \n \n 138,259\n \n \n 138,747\n \n \n Insurance liabilities\n \n \n 189,236\n \n \n 189,877\n \n \n 195,319\n \n \n 200,601\n \n \n 199,379\n \n \n Payable taxes\n \n \n 13,125\n \n \n 3,115\n \n \n 9,488\n \n \n 4,057\n \n \n 3,054\n \n \n Deferred taxes\n \n \n 3,006\n \n \n 4,823\n \n \n 2,722\n \n \n 2,055\n \n \n 1,571\n \n \n Other liabilities\n \n \n 50,131\n \n \n 70,589\n \n \n 56,172\n \n \n 70,202\n \n \n 68,784\n \n \n Liabilities held for sale\n \n \n 548\n \n \n 548\n \n \n 540\n \n \n 541\n \n \n 896\n \n \n Provisions\n \n \n 1,315\n \n \n 1,598\n \n \n 1,146\n \n \n 977\n \n \n 1,642\n \n \n Pension commitments\n \n \n 6,077\n \n \n 5,594\n \n \n 5,343\n \n \n 4,657\n \n \n 5,073\n \n \n Senior non-preferred bond\n \n \n 112,476\n \n \n 119,484\n \n \n 99,848\n \n \n 59,702\n \n \n 37,769\n \n \n Subordinated loan capital\n \n \n 36,026\n \n \n 36,269\n \n \n 39,957\n \n \n 36,788\n \n \n 33,047\n \n \n Total liabilities\n \n \n 3,399,434\n \n \n 3,330,800\n \n \n 3,170,428\n \n \n 2,983,565\n \n \n 2,675,332\n \n \n \n Additional Tier 1 capital\n \n \n \n 23,380\n \n \n \n 21,916\n \n \n \n 22,004\n \n \n \n 16,089\n \n \n \n 16,974\n \n \n Non-controlling interests\n \n \n 705\n \n \n 218\n \n \n 168\n \n \n 227\n \n \n 266\n \n \n Share capital\n \n \n 18,262\n \n \n 18,533\n \n \n 18,960\n \n \n 19,378\n \n \n 19,379\n \n \n Share premium\n \n \n 18,733\n \n \n 18,733\n \n \n 18,733\n \n \n 18,733\n \n \n 18,733\n \n \n Other equity\n \n \n 234,775\n \n \n 223,925\n \n \n 209,431\n \n \n 195,413\n \n \n 188,559\n \n \n Total equity\n \n \n 295,855\n \n \n 283,325\n \n \n 269,296\n \n \n 249,840\n \n \n 243,912\n \n \n Total liabilities and equity\n \n \n 3,695,290\n \n \n 3,614,125\n \n \n 3,439,724\n \n \n 3,233,405\n \n \n 2,919,244\n \n Exchange rates at the end of the period:\n \n EUR/NOK\n \n \n 11.83\n \n \n 11.78\n \n \n 11.21\n \n \n 10.52\n \n \n 9.99\n \n \n USD/NOK\n \n \n 10.08\n \n \n 11.35\n \n \n 10.13\n \n \n 9.84\n \n \n 8.82\n \n Of which repo trading volumes\n \n \n See table 1.3.3 for details on Fremtind.\n \n \n 287,558 221,435 66,698 56,872 54,779\n \n \n Key figures - quarterly figures\n \n Definitions:\n \n \n 1Q26\n \n \n 4Q25\n \n \n 3Q25\n \n \n 2Q25\n \n \n 1Q25\n \n \n 4Q24\n \n \n 3Q24\n \n \n 2Q24\n \n \n 1Q24\n \n \n Interest rate analysis\n \n \n -1- Combined weighted total average spreads for lending and deposits (%) \n 1.24\n \n \n 1.29\n \n \n 1.35\n \n \n 1.35\n \n \n 1.36\n \n \n 1.39\n \n \n 1.39\n \n \n 1.40\n \n \n 1.43\n \n \n -1- Average spreads for ordinary lending to customers (%)\n \n \n 1.52\n \n \n 1.61\n \n \n 1.73\n \n \n 1.66\n \n \n 1.72\n \n \n 1.65\n \n \n 1.62\n \n \n 1.67\n \n \n 1.62\n \n \n -1- Average spreads for deposits from customers (%)\n \n \n 0.87\n \n \n 0.86\n \n \n 0.84\n \n \n 0.95\n \n \n 0.90\n \n \n 1.03\n \n \n 1.07\n \n \n 1.04\n \n \n 1.18\n \n \n -2- Net interest margin (%)\n \n \n 1.74\n \n \n 1.81\n \n \n 1.80\n \n \n 1.85\n \n \n 1.90\n \n \n 1.94\n \n \n 1.90\n \n \n 1.89\n \n \n 1.87\n \n \n Average NIBOR (%)\n \n \n 4.18\n \n \n 4.18\n \n \n 4.28\n \n \n 4.57\n \n \n 4.54\n \n \n 4.69\n \n \n 4.74\n \n \n 4.72\n \n \n 4.71\n \n \n NIBOR at end of period (%)\n \n \n 4.34\n \n \n 4.07\n \n \n 4.13\n \n \n 4.34\n \n \n 4.57\n \n \n 4.68\n \n \n 4.73\n \n \n 4.73\n \n \n 4.73\n \n \n Rate of return/profitability\n \n \n -3- Cost/income ratio (%)\n \n \n 38.7\n \n \n 39.7\n \n \n 37.4\n \n \n 38.8\n \n \n 36.1\n \n \n 37.9\n \n \n 32.5\n \n \n 34.8\n \n \n 35.7\n \n \n -4- Return on equity, annualised (%)\n \n \n 14.0\n \n \n 16.6\n \n \n 15.8\n \n \n 15.4\n \n \n 15.9\n \n \n 19.0\n \n \n 18.9\n \n \n 16.6\n \n \n 15.6\n \n \n -5- RAROC, annualised (%)\n \n \n 13.8\n \n \n 15.8\n \n \n 16.0\n \n \n 15.0\n \n \n 15.2\n \n \n 15.3\n \n \n 17.7\n \n \n 16.0\n \n \n 15.9\n \n \n Average equity attributable to shareholders, (NOK million)\n \n \n 273,563\n \n \n 266,766\n \n \n 257,823\n \n \n 262,561\n \n \n 266,101\n \n \n 254,661\n \n \n 244,668\n \n \n 249,405\n \n \n 251,687\n \n \n Financial strength at end of period\n \n \n Common equity Tier 1 capital ratio (%) 1 \n 18.1\n \n \n 17.9\n \n \n 17.9\n \n \n 18.3\n \n \n 18.5\n \n \n 19.4\n \n \n 19.0\n \n \n 19.0\n \n \n 19.0\n \n \n Tier 1 capital ratio (%) 1 \n 19.9\n \n \n 19.8\n \n \n 19.7\n \n \n 20.1\n \n \n 20.3\n \n \n 21.2\n \n \n 20.9\n \n \n 20.8\n \n \n 21.1\n \n \n Capital ratio (%) 1 \n 22.4\n \n \n 22.4\n \n \n 22.3\n \n \n 22.7\n \n \n 22.8\n \n \n 23.8\n \n \n 23.4\n \n \n 23.3\n \n \n 23.6\n \n \n Leverage ratio (%) 1 \n 6.5\n \n \n 6.6\n \n \n 6.3\n \n \n 6.2\n \n \n 6.0\n \n \n 6.9\n \n \n 6.3\n \n \n 6.5\n \n \n 6.2\n \n \n Loan portfolio and impairment\n \n \n -6- Net loans at amortised cost and financial commitments in stage 2, per cent of net loans at amortised cost \n 5.58\n \n \n 6.37\n \n \n 6.58\n \n \n 6.32\n \n \n 6.32\n \n \n 7.22\n \n \n 8.69\n \n \n 9.32\n \n \n 10.04\n \n \n -7- Net loans at amortised cost and financial commitments in stage 3, per cent of net loans at amortised cost \n 0.90\n \n \n 0.81\n \n \n 0.82\n \n \n 0.95\n \n \n 0.99\n \n \n 0.97\n \n \n 1.06\n \n \n 1.07\n \n \n 1.07\n \n \n -8- Impairment relative to average net loans to customers at amortised cost, annualised (per cent) \n (0.11)\n \n \n (0.15)\n \n \n (0.15)\n \n \n (0.12)\n \n \n (0.08)\n \n \n (0.03)\n \n \n (0.03)\n \n \n (0.11)\n \n \n (0.07)\n \n \n Liquidity\n \n \n Ratio of customer deposits to net loans to customers at end of period, customer segments (%)\n \n \n 73.8\n \n \n 72.2\n \n \n 73.6\n \n \n 73.4\n \n \n 76.1\n \n \n 74.3\n \n \n 72.7\n \n \n 77.1\n \n \n 77.3\n \n \n Total assets owned or managed by DNB\n \n \n -9- Assets under management at end of period (NOK billion)\n \n \n 1,597\n \n \n 1,667\n \n \n 1,579\n \n \n 1,564\n \n \n 1,468\n \n \n 1,140\n \n \n 1,101\n \n \n 1,059\n \n \n 1,021\n \n \n -10- Total combined assets at end of period (NOK billion)\n \n \n 5,006\n \n \n 4,930\n \n \n 4,960\n \n \n 4,989\n \n \n 5,102\n \n \n 4,362\n \n \n 4,562\n \n \n 4,358\n \n \n 4,547\n \n \n Average total assets (NOK billion)\n \n \n 3,932\n \n \n 4,185\n \n \n 4,279\n \n \n 4,281\n \n \n 4,217\n \n \n 3,981\n \n \n 3,969\n \n \n 4,000\n \n \n 3,991\n \n \n Staff\n \n \n Number of full-time positions at end of period\n \n \n 10,683\n \n \n 10,829\n \n \n 10,917\n \n \n 11,058\n \n \n 11,188\n \n \n 10,603\n \n \n 10,719\n \n \n 10,628\n \n \n 10,584\n \n \n Sustainability\n \n \n Lending and facilitation of funding to the sustainable transition (NOK\n \n \n billion, accumulated)\n \n \n 973.6\n \n \n 928.6\n \n \n 877.3\n \n \n 835.5\n \n \n 792.2\n \n \n 751.8\n \n \n 690.5\n \n \n 645.2\n \n \n 603.0\n \n \n Score from Traction's reputation survey in Norway (points)\n \n \n 60\n \n \n 61\n \n \n 59\n \n \n 59\n \n \n 60\n \n \n 57\n \n \n 55\n \n \n 58\n \n \n 55\n \n \n Customer satisfaction index, CSI, personal customers in Norway\n \n \n (score)\n \n \n 72.1\n \n \n 72.3\n \n \n 70.9\n \n \n 71.6\n \n \n 74.4\n \n \n 73.0\n \n \n 71.1\n \n \n 69.7\n \n \n 69.3\n \n \n Female representation at management levels 1-4 (%)\n \n \n 38\n \n \n 38\n \n \n 38\n \n \n 37\n \n \n 37\n \n \n 36\n \n \n 37\n \n \n 38\n \n \n 39\n \n \n The DNB share\n \n \n -11- Number of issued shares at end of period (1,000) 2 \n 1,477,605\n \n \n 1,477,605\n \n \n 1,477,605\n \n \n 1,477,605\n \n \n 1,492,530\n \n \n 1,492,530\n \n \n 1,492,530\n \n \n 1,492,530\n \n \n 1,542,613\n \n \n -12- Number of outstanding shares at end of\n \n \n period (1,000) 2 \n 1,453,225\n \n \n 1,460,974\n \n \n 1,467,853\n \n \n 1,475,931\n \n \n 1,482,680\n \n \n 1,482,680\n \n \n 1,482,680\n \n \n 1,491,031\n \n \n 1,508,952\n \n \n Average number of outstanding shares (1,000) 2 \n 1,455,357\n \n \n 1,463,667\n \n \n 1,470,159\n \n \n 1,480,430\n \n \n 1,482,680\n \n \n 1,482,680\n \n \n 1,484,888\n \n \n 1,502,776\n \n \n 1,510,159\n \n \n -13- Earnings per share (NOK)\n \n \n 6.50\n \n \n 7.65\n \n \n 6.98\n \n \n 6.79\n \n \n 7.04\n \n \n 8.21\n \n \n 7.83\n \n \n 6.83\n \n \n 6.48\n \n \n -14- Earnings per share excl. operations held for sale (NOK)\n \n \n 6.54\n \n \n 7.54\n \n \n 6.98\n \n \n 6.81\n \n \n 7.07\n \n \n 8.14\n \n \n 7.86\n \n \n 6.86\n \n \n 6.50\n \n \n -16- Book value per share incl. allocated dividend at end of period (NOK)\n \n \n 190.43\n \n \n 186.02\n \n \n 177.93\n \n \n 172.03\n \n \n 182.19\n \n \n 176.16\n \n \n 168.36\n \n \n 160.35\n \n \n 170.44\n \n \n Share price at end of period (NOK)\n \n \n 301.20\n \n \n 281.50\n \n \n 271.50\n \n \n 278.60\n \n \n 275.50\n \n \n 226.90\n \n \n 216.40\n \n \n 209.70\n \n \n 215.10\n \n \n -17- Price/earnings ratio\n \n \n 11.58\n \n \n 9.20\n \n \n 9.72\n \n \n 10.26\n \n \n 9.79\n \n \n 6.91\n \n \n 6.91\n \n \n 7.67\n \n \n 8.30\n \n \n -18- Price/book value\n \n \n 1.58\n \n \n 1.51\n \n \n 1.53\n \n \n 1.62\n \n \n 1.51\n \n \n 1.29\n \n \n 1.29\n \n \n 1.31\n \n \n 1.26\n \n \n -19- Market capitalisation (NOK billion)\n \n \n 437.7\n \n \n 411.3\n \n \n 399.0\n \n \n 411.2\n \n \n 408.5\n \n \n 336.4\n \n \n 320.9\n \n \n 312.7\n \n \n 324.6\n \n Including part of the interim profit. For quarterly figures, the highest of the dividend payout ratio of the preceding year and average of the dividend pay-out ratio for the past three years has been deducted from interim profit, in accordance with CRR.\n \n \n See table 1.7.11 for information on share buy-back programmes.\n \n \n \n For definitions of selected key figures, see table 1.1.9.\n \n \n Key figures - full-year figures\n \n Definitions:\n \n \n 2025\n \n \n 2024\n \n \n 2023\n \n \n 2022\n \n \n 2021\n \n \n Interest rate analysis\n \n \n -1- Combined weighted total average spreads for lending and deposits (%) \n 1.34\n \n \n \n 1.40\n \n \n \n 1.39\n \n \n \n 1.21\n \n \n \n 1.17\n \n \n -1- Average spreads for ordinary lending to customers (%)\n \n \n 1.68\n \n \n 1.64\n \n \n 1.45\n \n \n 1.47\n \n \n 1.94\n \n \n -1- Average spreads for deposits from customers (%)\n \n \n 0.89\n \n \n 1.08\n \n \n 1.32\n \n \n 0.88\n \n \n 0.14\n \n \n -2- Net interest margin (%)\n \n \n 1.84\n \n \n 1.90\n \n \n 1.84\n \n \n 1.54\n \n \n 1.38\n \n \n Average NIBOR (%)\n \n \n 4.39\n \n \n 4.72\n \n \n 4.16\n \n \n 2.05\n \n \n 0.47\n \n \n NIBOR at end of period (%)\n \n \n 4.07\n \n \n 4.68\n \n \n 4.73\n \n \n 3.26\n \n \n 0.95\n \n \n Rate of return/profitability\n \n \n -3- Cost/income ratio (%)\n \n \n 38.0\n \n \n 35.2\n \n \n 35.0\n \n \n 39.0\n \n \n 43.0\n \n \n -4- Return on equity, annualised (%)\n \n \n 15.9\n \n \n 17.5\n \n \n 15.9\n \n \n 14.7\n \n \n 10.7\n \n \n -5- RAROC, annualised (%)\n \n \n 15.5\n \n \n 16.2\n \n \n 15.5\n \n \n 13.0\n \n \n 9.5\n \n \n Average equity attributable to shareholders (NOK million)\n \n \n 263,313\n \n \n 250,106\n \n \n 239,526\n \n \n 222,431\n \n \n 228,207\n \n \n Financial strength at end of period\n \n \n Common equity Tier 1 capital ratio (%)\n \n \n 17.9\n \n \n 19.4\n \n \n 18.2\n \n \n 18.3\n \n \n 19.4\n \n \n Tier 1 capital ratio (%)\n \n \n 19.8\n \n \n 21.2\n \n \n 20.0\n \n \n 19.6\n \n \n 21.0\n \n \n Capital ratio (%)\n \n \n 22.4\n \n \n 23.8\n \n \n 22.5\n \n \n 21.8\n \n \n 24.0\n \n \n Leverage ratio (%)\n \n \n 6.6\n \n \n 6.9\n \n \n 6.8\n \n \n 6.8\n \n \n 7.3\n \n \n Loan portfolio and impairment\n \n \n -6- Net loans at amortised cost and financial commitments in stage 2, per cent of net loans at amortised cost\n \n \n \n 6.37\n \n \n \n 7.22\n \n \n \n 9.35\n \n \n \n 9.28\n \n \n \n 8.30\n \n \n -7- Net loans at amortised cost and financial commitments in stage 3, per cent of net loans at amortised cost\n \n \n \n 0.81\n \n \n \n 0.97\n \n \n \n 1.17\n \n \n \n 1.25\n \n \n \n 1.55\n \n \n -8- Impairment relative to average net loans to customers at amortised cost, annualised (per cent) \n (0.12)\n \n \n \n (0.06)\n \n \n \n (0.13)\n \n \n \n 0.01\n \n \n \n 0.05\n \n \n Liquidity\n \n \n Ratio of customer deposits to net loans to customers at end of period, customer segments (%)\n \n \n \n 72.2\n \n \n \n 74.3\n \n \n \n 74.9\n \n \n \n 75.1\n \n \n \n 75.8\n \n \n Total assets owned or managed by DNB\n \n \n -9- Assets under management at end of period (NOK billion)\n \n \n 1,667\n \n \n 1,140\n \n \n 945\n \n \n 809\n \n \n 882\n \n \n -10- Total combined assets at end of period (NOK billion)\n \n \n 4,930\n \n \n 4,362\n \n \n 4,035\n \n \n 3,727\n \n \n 3,463\n \n \n Average total assets (NOK billion)\n \n \n 4,185\n \n \n 3,981\n \n \n 3,687\n \n \n 3,502\n \n \n 3,404\n \n \n Staff\n \n \n Number of full-time positions at end of period\n \n \n 10,829\n \n \n 10,603\n \n \n 10,617\n \n \n 10,351\n \n \n 9,410\n \n \n Sustainability\n \n \n Lending and facilitation of funding to the sustainable transition (NOK billion, accumulated)\n \n \n \n 928.6\n \n \n \n 751.8\n \n \n \n 561.8\n \n \n \n 390.9\n \n \n \n 220.6\n \n \n Score from Traction's reputation survey in Norway (points)\n \n \n 61\n \n \n 57\n \n \n 57\n \n \n 60\n \n \n 63\n \n \n Customer satisfaction index, CSI, personal customers in Norway (score)\n \n \n \n 72.3\n \n \n \n 73.0\n \n \n \n 68.5\n \n \n \n 71.1\n \n \n \n 72.7\n \n \n Female representation at management levels 1-4 (%)\n \n \n 38\n \n \n 36\n \n \n 39\n \n \n 38\n \n \n 40\n \n \n The DNB share\n \n \n -11- Number of issued shares at end of period (1,000)¹\n \n \n 1,477,605\n \n \n 1,492,530\n \n \n 1,542,613\n \n \n 1,550,365\n \n \n 1,550,365\n \n \n -12- Number of outstanding shares at end of period (1,000)¹\n \n \n 1,460,974\n \n \n 1,482,680\n \n \n 1,516,838\n \n \n 1,550,261\n \n \n 1,550,351\n \n \n Average number of outstanding shares (1,000)¹\n \n \n 1,474,234\n \n \n 1,495,277\n \n \n 1,536,882\n \n \n 1,550,333\n \n \n 1,550,290\n \n \n -13- Earnings per share (NOK)\n \n \n 28.45\n \n \n 29.34\n \n \n 24.83\n \n \n 21.02\n \n \n 15.74\n \n \n -14- Earnings per share excl. operations held for sale (NOK)\n \n \n 28.40\n \n \n 29.34\n \n \n 24.93\n \n \n 20.85\n \n \n 15.65\n \n \n Dividend per share (NOK)\n \n \n 18.00\n \n \n 16.75\n \n \n 16.00\n \n \n 12.50\n \n \n 9.75\n \n \n -15- Total shareholder's return (%)\n \n \n 32.3\n \n \n 13.7\n \n \n 18.7\n \n \n 1.2\n \n \n 31.8\n \n \n Dividend yield (%)\n \n \n 6.39\n \n \n 7.38\n \n \n 7.41\n \n \n 6.43\n \n \n 4.83\n \n \n -16- Book value per share incl. allocated dividend at end of period (NOK)\n \n \n 186.02\n \n \n 176.16\n \n \n 162.92\n \n \n 150.64\n \n \n 146.21\n \n \n Share price at end of period (NOK)\n \n \n 281.50\n \n \n 226.90\n \n \n 216.00\n \n \n 194.45\n \n \n 202.00\n \n \n -17- Price/earnings ratio\n \n \n 9.89\n \n \n 7.73\n \n \n 8.70\n \n \n 9.25\n \n \n 12.91\n \n \n -18- Price/book value\n \n \n 1.51\n \n \n 1.29\n \n \n 1.33\n \n \n 1.29\n \n \n 1.38\n \n \n -19- Market capitalisation (NOK billion)\n \n \n 411.3\n \n \n 336.4\n \n \n 327.6\n \n \n 301.4\n \n \n 313.2\n \n 1 See table 1.7.11 for information on share buy-back programmes.\n \n \n \n For definitions of selected key figures, see table 1.1.9.\n \n \n Key figures - definitions\n \n \n \n -1-\n \n \n Based on customer segments and nominal values and excluding impaired loans. Measured against the corresponding money market rate.\n \n \n \n -2-\n \n \n Based on net interest income relative to net loans to customers and deposits from customers.\n \n \n \n -3-\n \n \n Total operating expenses relative to total operating income.\n \n \n \n -4-\n \n \n Return on equity represents the shareholders' share of profit for the period relative to average equity excluding additional Tier 1 capital and non-controlling interests.\n \n \n \n -5-\n \n \n RAROC (Risk-Adjusted Return On Capital) is defined as risk-adjusted profits (shareholders' share) relative to average equity excluding additional Tier 1 capital and non-controlling interests. Risk-adjusted profits indicate the level of profits in a normalised situation. Among other things, recorded impairment losses on loans are replaced by normalised losses.\n \n \n \n -6-\n \n \n Net loans at amortised cost and financial commitments in stage 2 divided by net loans to customers at amortised cost.\n \n \n \n -7-\n \n \n Net loans at amortised cost and financial commitments in stage 3 divided by net loans to customers at amortised cost.\n \n \n \n -8-\n \n \n Impairment relative to average net loans to customers at amortised cost, annualised (per cent).\n \n \n \n -9-\n \n \n Total assets under management or under reporting for the Group's assets management businesses, and assets under advisory/distribution for other providers.\n \n \n \n -10-\n \n \n Total assets and assets under management.\n \n \n \n -11-\n \n \n Number of issued shares.\n \n \n \n -12-\n \n \n Number of issued shares excluding DNB shares owned for trading purpose and as part of buy-back programmes.\n \n \n \n -13-\n \n \n The shareholders' share of profits relative to the average number of outstanding shares.\n \n \n \n -14-\n \n \n The shareholders' share of profits excluding profits from operations held for sale relative to the average number of outstanding shares.\n \n \n \n -15-\n \n \n Share price performance including the value of all re-invested dividends. The dividend is calculated re-invested as from the day the share is traded exclusive the right to the dividend (ex-dividend date).\n \n \n \n -16-\n \n \n The shareholders' share of equity, excluding additional Tier 1 capital and non-controlling interests, at end of period relative to the number of outstanding shares.\n \n \n \n -17-\n \n \n Closing price at end of period relative to annualised earnings per share.\n \n \n \n -18-\n \n \n Share price at end of period relative to book value per share.\n \n \n \n -19-\n \n \n Number of outstanding shares multiplied by the closing share price, at end of period.\n \n \n Net interest income - split by segments\n \n Amounts in NOK million\n \n \n 1Q26\n \n \n 4Q25\n \n \n 3Q25\n \n \n 2Q25\n \n \n 1Q25\n \n \n 4Q24\n \n \n 3Q24\n \n \n 2Q24\n \n \n 1Q24\n \n \n Interest margin on performing loans to customers¹\n \n \n 8,829\n \n \n 9,097\n \n \n 9,212\n \n \n 9,013\n \n \n 9,518\n \n \n 9,034\n \n \n 8,197\n \n \n 8,056\n \n \n 7,795\n \n \n Customer segments\n \n \n 7,648\n \n \n 8,201\n \n \n 8,713\n \n \n 8,189\n \n \n 8,342\n \n \n 8,104\n \n \n 7,760\n \n \n 7,826\n \n \n 7,598\n \n \n Personal customers\n \n \n 2,109\n \n \n 2,482\n \n \n 2,924\n \n \n 2,492\n \n \n 2,603\n \n \n 2,372\n \n \n 2,305\n \n \n 2,405\n \n \n 2,243\n \n \n Corporate customers Norway\n \n \n 2,832\n \n \n 2,910\n \n \n 2,943\n \n \n 2,903\n \n \n 2,907\n \n \n 2,898\n \n \n 2,829\n \n \n 2,866\n \n \n 2,834\n \n \n Large corporates and international customers\n \n \n 2,707\n \n \n 2,809\n \n \n 2,845\n \n \n 2,794\n \n \n 2,833\n \n \n 2,835\n \n \n 2,626\n \n \n 2,555\n \n \n 2,521\n \n \n Other operations\n \n \n 1,181\n \n \n 896\n \n \n 499\n \n \n 824\n \n \n 1,176\n \n \n 930\n \n \n 438\n \n \n 229\n \n \n 197\n \n \n Interest margin on deposits from customers\n \n \n 2,991\n \n \n 2,908\n \n \n 2,711\n \n \n 3,071\n \n \n 2,983\n \n \n 3,136\n \n \n 3,305\n \n \n 3,496\n \n \n 4,040\n \n \n Customer segments\n \n \n 3,198\n \n \n 3,197\n \n \n 3,148\n \n \n 3,531\n \n \n 3,355\n \n \n 3,705\n \n \n 3,855\n \n \n 3,775\n \n \n 4,169\n \n \n Personal customers\n \n \n 2,167\n \n \n 2,129\n \n \n 2,043\n \n \n 2,349\n \n \n 2,212\n \n \n 2,471\n \n \n 2,619\n \n \n 2,575\n \n \n 2,714\n \n \n Corporate customers Norway\n \n \n 910\n \n \n 941\n \n \n 965\n \n \n 1,042\n \n \n 1,023\n \n \n 1,095\n \n \n 1,113\n \n \n 1,100\n \n \n 1,076\n \n \n Large corporates and international customers\n \n \n 121\n \n \n 127\n \n \n 139\n \n \n 139\n \n \n 120\n \n \n 138\n \n \n 123\n \n \n 101\n \n \n 379\n \n \n Other operations\n \n \n (207)\n \n \n (290)\n \n \n (437)\n \n \n (459)\n \n \n (373)\n \n \n (568)\n \n \n (550)\n \n \n (280)\n \n \n (129)\n \n \n Equity and non-interest bearing items\n \n \n 2,567\n \n \n 2,573\n \n \n 2,534\n \n \n 2,736\n \n \n 2,801\n \n \n 2,901\n \n \n 2,860\n \n \n 2,856\n \n \n 2,792\n \n \n Customer segments²\n \n \n 1,575\n \n \n 1,665\n \n \n 1,794\n \n \n 1,808\n \n \n 1,661\n \n \n 1,729\n \n \n 1,741\n \n \n 1,724\n \n \n 1,629\n \n \n Personal customers ² \n 645\n \n \n 671\n \n \n 705\n \n \n 718\n \n \n 640\n \n \n 660\n \n \n 691\n \n \n 671\n \n \n 587\n \n \n Corporate customers Norway ² \n 443\n \n \n 469\n \n \n 498\n \n \n 505\n \n \n 492\n \n \n 511\n \n \n 499\n \n \n 503\n \n \n 495\n \n \n Large corporates and international customers ² \n 487\n \n \n 525\n \n \n 591\n \n \n 585\n \n \n 529\n \n \n 558\n \n \n 552\n \n \n 550\n \n \n 546\n \n \n Other operations\n \n \n 993\n \n \n 909\n \n \n 740\n \n \n 928\n \n \n 1,140\n \n \n 1,172\n \n \n 1,119\n \n \n 1,132\n \n \n 1,163\n \n \n Other net interest income\n \n \n 912\n \n \n 1,601\n \n \n 1,534\n \n \n 1,331\n \n \n 1,108\n \n \n 1,647\n \n \n 1,766\n \n \n 1,409\n \n \n 899\n \n \n Customer segments\n \n \n 1,773\n \n \n 2,312\n \n \n 1,875\n \n \n 1,841\n \n \n 1,892\n \n \n 2,087\n \n \n 1,803\n \n \n 1,362\n \n \n 1,322\n \n \n Personal customers\n \n \n 75\n \n \n 367\n \n \n 133\n \n \n 72\n \n \n 6\n \n \n 21\n \n \n (35)\n \n \n (130)\n \n \n (18)\n \n \n Corporate customers Norway\n \n \n 394\n \n \n 616\n \n \n 454\n \n \n 408\n \n \n 489\n \n \n 553\n \n \n 448\n \n \n 315\n \n \n 300\n \n \n Large corporates and international customers\n \n \n 1,305\n \n \n 1,329\n \n \n 1,288\n \n \n 1,362\n \n \n 1,397\n \n \n 1,512\n \n \n 1,390\n \n \n 1,177\n \n \n 1,039\n \n \n Other operations\n \n \n (861)\n \n \n (711)\n \n \n (341)\n \n \n (510)\n \n \n (784)\n \n \n (440)\n \n \n (37)\n \n \n 47\n \n \n (422)\n \n \n Total net interest income\n \n \n 15,299\n \n \n 16,179\n \n \n 15,990\n \n \n 16,152\n \n \n 16,410\n \n \n 16,718\n \n \n 16,129\n \n \n 15,817\n \n \n 15,526\n \n \n Customer segments\n \n \n 14,193\n \n \n 15,374\n \n \n 15,529\n \n \n 15,369\n \n \n 15,250\n \n \n 15,625\n \n \n 15,160\n \n \n 14,687\n \n \n 14,718\n \n \n Personal customers\n \n \n 4,995\n \n \n 5,648\n \n \n 5,806\n \n \n 5,630\n \n \n 5,461\n \n \n 5,525\n \n \n 5,580\n \n \n 5,521\n \n \n 5,526\n \n \n Corporate customers Norway\n \n \n 4,579\n \n \n 4,936\n \n \n 4,860\n \n \n 4,859\n \n \n 4,910\n \n \n 5,057\n \n \n 4,889\n \n \n 4,784\n \n \n 4,706\n \n \n Large corporates and international customers\n \n \n 4,619\n \n \n 4,791\n \n \n 4,864\n \n \n 4,880\n \n \n 4,879\n \n \n 5,044\n \n \n 4,690\n \n \n 4,382\n \n \n 4,486\n \n \n Other operations\n \n \n 1,106\n \n \n 804\n \n \n 461\n \n \n 783\n \n \n 1,160\n \n \n 1,093\n \n \n 969\n \n \n 1,129\n \n \n 809\n \n Excluding impaired loans.\n \n \n Allocated capital.\n \n \n Average volumes - split by segments\n \n Amounts in NOK million\n \n \n 1Q26\n \n \n 4Q25\n \n \n 3Q25\n \n \n 2Q25\n \n \n 1Q25\n \n \n 4Q24\n \n \n 3Q24\n \n \n 2Q24\n \n \n 1Q24\n \n \n Performing loans to customers 1 \n 2,327,286\n \n \n 2,322,709\n \n \n 2,239,393\n \n \n 2,201,172\n \n \n 2,204,128\n \n \n 2,139,436\n \n \n 2,020,621\n \n \n 1,985,594\n \n \n 1,978,654\n \n \n Customer segments\n \n \n 2,037,491\n \n \n 2,022,283\n \n \n 2,001,760\n \n \n 1,977,388\n \n \n 1,969,828\n \n \n 1,954,990\n \n \n 1,902,529\n \n \n 1,885,950\n \n \n 1,881,214\n \n \n Personal customers\n \n \n 973,188\n \n \n 968,915\n \n \n 962,787\n \n \n 958,241\n \n \n 951,441\n \n \n 947,192\n \n \n 933,793\n \n \n 931,364\n \n \n 941,287\n \n \n Corporate customers Norway\n \n \n 559,486\n \n \n 546,698\n \n \n 536,759\n \n \n 531,914\n \n \n 526,837\n \n \n 523,320\n \n \n 515,646\n \n \n 514,527\n \n \n 508,492\n \n \n Large corporates and international customers\n \n \n 504,817\n \n \n 506,670\n \n \n 502,215\n \n \n 487,233\n \n \n 491,550\n \n \n 484,478\n \n \n 453,090\n \n \n 440,059\n \n \n 431,436\n \n \n Other operations\n \n \n 289,795\n \n \n 300,426\n \n \n 237,632\n \n \n 223,784\n \n \n 234,299\n \n \n 184,447\n \n \n 118,093\n \n \n 99,644\n \n \n 97,440\n \n \n Deposits from customers 1 \n 1,542,980\n \n \n 1,524,799\n \n \n 1,571,574\n \n \n 1,648,780\n \n \n 1,684,385\n \n \n 1,601,815\n \n \n 1,596,820\n \n \n 1,647,453\n \n \n 1,545,804\n \n \n Customer segments\n \n \n 1,497,161\n \n \n 1,480,983\n \n \n 1,487,655\n \n \n 1,492,314\n \n \n 1,506,947\n \n \n 1,428,118\n \n \n 1,428,399\n \n \n 1,453,896\n \n \n 1,423,630\n \n \n Personal customers\n \n \n 629,077\n \n \n 616,921\n \n \n 625,360\n \n \n 617,169\n \n \n 591,184\n \n \n 570,709\n \n \n 573,633\n \n \n 570,375\n \n \n 571,185\n \n \n Corporate customers Norway\n \n \n 409,770\n \n \n 406,501\n \n \n 414,852\n \n \n 415,444\n \n \n 406,780\n \n \n 386,018\n \n \n 386,251\n \n \n 390,693\n \n \n 375,434\n \n \n Large corporates and international customers\n \n \n 458,315\n \n \n 457,561\n \n \n 447,443\n \n \n 459,701\n \n \n 508,982\n \n \n 471,391\n \n \n 468,514\n \n \n 492,829\n \n \n 477,010\n \n \n Other operations\n \n \n 45,818\n \n \n 43,816\n \n \n 83,919\n \n \n 156,467\n \n \n 177,439\n \n \n 173,697\n \n \n 168,422\n \n \n 193,557\n \n \n 122,174\n \n \n Equity and non-interest bearing items\n \n \n 245,575\n \n \n 241,197\n \n \n 231,899\n \n \n 236,778\n \n \n 246,635\n \n \n 241,126\n \n \n 236,387\n \n \n 239,854\n \n \n 234,989\n \n \n Customer segments\n \n \n 189,277\n \n \n 193,075\n \n \n 193,985\n \n \n 192,061\n \n \n 182,049\n \n \n 177,472\n \n \n 174,328\n \n \n 173,472\n \n \n 173,329\n \n \n Personal customers 2 \n 71,758\n \n \n 72,015\n \n \n 70,938\n \n \n 71,363\n \n \n 64,711\n \n \n 61,546\n \n \n 61,742\n \n \n 61,701\n \n \n 61,748\n \n \n Corporate customers Norway 2 \n 53,289\n \n \n 54,373\n \n \n 53,642\n \n \n 53,302\n \n \n 54,868\n \n \n 53,757\n \n \n 49,893\n \n \n 51,581\n \n \n 52,517\n \n \n Large corporates and international customers 2 \n 64,230\n \n \n 66,687\n \n \n 69,405\n \n \n 67,396\n \n \n 62,471\n \n \n 62,170\n \n \n 62,693\n \n \n 60,190\n \n \n 59,064\n \n \n Other operations\n \n \n 56,297\n \n \n 48,122\n \n \n 37,914\n \n \n 44,716\n \n \n 64,586\n \n \n 63,654\n \n \n 62,059\n \n \n 66,382\n \n \n 61,660\n \n Average nominal amount, excluding impaired loans.\n \n \n Allocated capital.\n \n \n Interest rate spreads - split by segments 1 \n \n Per cent\n \n \n 1Q26\n \n \n 4Q25\n \n \n 3Q25\n \n \n 2Q25\n \n \n 1Q25\n \n \n 4Q24\n \n \n 3Q24\n \n \n 2Q24\n \n \n 1Q24\n \n \n Average lending spreads - customer segments\n \n \n 1.52\n \n \n 1.61\n \n \n 1.73\n \n \n 1.66\n \n \n 1.72\n \n \n 1.65\n \n \n 1.62\n \n \n 1.67\n \n \n 1.62\n \n \n Personal customers\n \n \n 0.88\n \n \n 1.02\n \n \n 1.20\n \n \n 1.04\n \n \n 1.11\n \n \n 1.00\n \n \n 0.98\n \n \n 1.04\n \n \n 0.96\n \n \n Corporate customers Norway\n \n \n 2.05\n \n \n 2.11\n \n \n 2.18\n \n \n 2.19\n \n \n 2.24\n \n \n 2.20\n \n \n 2.18\n \n \n 2.24\n \n \n 2.24\n \n \n Large corporates and international customers\n \n \n 2.17\n \n \n 2.20\n \n \n 2.25\n \n \n 2.30\n \n \n 2.34\n \n \n 2.33\n \n \n 2.31\n \n \n 2.34\n \n \n 2.35\n \n \n Average deposits spreads - customer segments\n \n \n Personal customers Corporate customers Norway\n \n \n 0.87\n \n \n 1.40\n \n \n 0.90\n \n \n 0.86\n \n \n 1.37\n \n \n 0.92\n \n \n 0.84\n \n \n 1.30\n \n \n 0.92\n \n \n 0.95\n \n \n 1.53\n \n \n 1.01\n \n \n 0.90\n \n \n 1.52\n \n \n 1.02\n \n \n 1.03\n \n \n 1.72\n \n \n 1.13\n \n \n 1.07\n \n \n 1.82\n \n \n 1.15\n \n \n 1.04\n \n \n 1.82\n \n \n 1.13\n \n \n 1.18\n \n \n 1.91\n \n \n 1.15\n \n \n Large corporates and international customers\n \n \n 0.11\n \n \n 0.11\n \n \n 0.12\n \n \n 0.12\n \n \n 0.10\n \n \n 0.12\n \n \n 0.10\n \n \n 0.08\n \n \n 0.32\n \n \n Combined weighted average spreads\n \n \n - customer segments\n \n \n \n 1.24\n \n \n \n 1.29\n \n \n \n 1.35\n \n \n \n 1.35\n \n \n \n 1.36\n \n \n \n 1.39\n \n \n \n 1.39\n \n \n \n 1.40\n \n \n \n 1.43\n \n \n Net interest margin\n \n \n 1.74\n \n \n 1.81\n \n \n 1.80\n \n \n 1.85\n \n \n 1.90\n \n \n 1.94\n \n \n 1.90\n \n \n 1.89\n \n \n 1.87\n \n 1 Spreads are calculated based on money market rates and do not include additional funding costs related to liquidity measures. See ir.dnb.no for definition and additional information on alternative performance measures (APMs).\n \n \n Quarterly development in average interest rate spreads\n \n Customer segments\n \n \n \n Per cent\n 1.62 1.65 1.72 1.66 1.73 1.61 \n 1.52\n \n \n Lending spreads\n \n \n 1.39 1.39 1.36 1.35 1.35 1.29 1.24 \n 1.07\n \n \n 1.03\n \n \n 0.90\n \n \n 0.95\n \n \n 0.84\n \n \n 0.86\n \n \n 0.87\n \n \n \n 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26\n \n \n Combined spreads\n \n \n - weighted average Deposit spreads\n \n \n \n Personal customers\n \n \n \n Per cent\n \n \n \n 1.82 1.72 \n 1.52 1.53 1.30 1.37 1.40 \n Deposit spreads\n \n \n 1.30 1.27 1.27 1.23 1.24 1.15 \n 1.20\n \n \n 1.08\n \n \n Combined spreads\n \n \n - weighted average\n \n \n 0.98 1.00 1.11 1.04 \n 1.02\n \n \n 0.88\n \n \n Lending spreads\n \n \n \n 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26\n \n Quarterly development in average interest rate spreads (continued)\n \n \n \n Corporate customers Norway\n \n \n \n Per cent\n \n \n \n 1.74\n \n \n 1.75\n \n \n 1.71\n \n \n 1.67\n \n \n 1.63\n \n \n 1.60\n \n \n 1.57\n \n \n 2.18 2.20 2.24 2.19 2.18 2.11 \n 1.15 1.13 \n 2.05\n \n \n Lending spreads Combined spreads\n \n \n weighted average\n \n \n 1.02 1.01 0.92 0.92 0.90 \n Deposit spreads\n \n \n \n 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26\n \n \n \n Large corporates and international customers\n \n \n \n Per cent\n \n \n \n 2.31 2.33 2.34 2.30 2.25 2.20 \n 2.17\n \n \n Lending spreads\n \n \n 1.19 1.24 1.20 1.24 1.25 1.21 1.19\n \n \n \n \n Combined spreads\n \n \n weighted average\n \n \n \n 0.10 0.12 0.10 0.12 0.12 0.11 0.11\n \n \n Deposit spreads\n \n \n \n 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26\n \n \n Net interest income\n \n Amounts in NOK million\n \n \n 1Q26\n \n \n 4Q25\n \n \n 3Q25\n \n \n 2Q25\n \n \n 1Q25\n \n \n 4Q24\n \n \n 3Q24\n \n \n 2Q24\n \n \n 1Q24\n \n \n Interest margin on performing loans - customer segments\n \n \n 7,648\n \n \n 8,201\n \n \n 8,713\n \n \n 8,189\n \n \n 8,342\n \n \n 8,104\n \n \n 7,760\n \n \n 7,826\n \n \n 7,598\n \n \n Interest margin on deposits - customer segments\n \n \n 3,198\n \n \n 3,197\n \n \n 3,148\n \n \n 3,531\n \n \n 3,355\n \n \n 3,705\n \n \n 3,855\n \n \n 3,775\n \n \n 4,169\n \n \n Amortisation effects and fees\n \n \n 1,291\n \n \n 1,467\n \n \n 1,420\n \n \n 1,370\n \n \n 1,436\n \n \n 1,393\n \n \n 1,211\n \n \n 1,141\n \n \n 1,055\n \n \n Equity and non-interest bearing items\n \n \n 2,567\n \n \n 2,573\n \n \n 2,534\n \n \n 2,736\n \n \n 2,801\n \n \n 2,901\n \n \n 2,860\n \n \n 2,856\n \n \n 2,792\n \n \n Operational leasing\n \n \n 676\n \n \n 690\n \n \n 697\n \n \n 721\n \n \n 725\n \n \n 753\n \n \n 791\n \n \n 793\n \n \n 800\n \n \n Contributions to the deposit guarantee and resolution funds\n \n \n (346)\n \n \n (340)\n \n \n (339)\n \n \n (341)\n \n \n (342)\n \n \n (328)\n \n \n (327)\n \n \n (372)\n \n \n (344)\n \n \n Other\n \n \n 264\n \n \n 389\n \n \n (181)\n \n \n (55)\n \n \n 93\n \n \n 191\n \n \n (21)\n \n \n (204)\n \n \n (543)\n \n \n Net interest income\n \n \n 15,299\n \n \n 16,179\n \n \n 15,990\n \n \n 16,152\n \n \n 16,410\n \n \n 16,718\n \n \n 16,129\n \n \n 15,817\n \n \n 15,526\n \n Changes in net interest income\n \n \n Amounts in NOK million\n \n \n 1Q26\n \n \n 4Q25\n \n \n 3Q25\n \n \n 2Q25\n \n \n 1Q25\n \n \n 4Q24\n \n \n 3Q24\n \n \n 2Q24\n \n \n 1Q24\n \n \n Net interest income\n \n \n 15,299\n \n \n 16,179\n \n \n 15,990\n \n \n 16,152\n \n \n 16,410\n \n \n 16,718\n \n \n 16,129\n \n \n 15,817\n \n \n 15,526\n \n \n \n Changes from previous quarters:\n \n \n Changes from 4Q25\n \n \n Changes from 3Q25\n \n \n Changes from 2Q25\n \n \n Changes from 1Q25\n \n \n Changes from 4Q24\n \n \n Changes from 3Q24\n \n \n Changes from 2Q24\n \n \n Changes from 1Q24\n \n \n Lending volumes\n \n \n 136\n \n \n 93\n \n \n 120\n \n \n 91\n \n \n 80\n \n \n 212\n \n \n 68\n \n \n (9)\n \n \n Deposit volumes\n \n \n 95\n \n \n (44)\n \n \n 30\n \n \n 129\n \n \n 109\n \n \n (7)\n \n \n (50)\n \n \n 36\n \n \n Lending spreads\n \n \n (429)\n \n \n (598)\n \n \n 320\n \n \n (272)\n \n \n 322\n \n \n 93\n \n \n (239)\n \n \n 196\n \n \n Deposit spreads\n \n \n (20)\n \n \n 94\n \n \n (451)\n \n \n 18\n \n \n (388)\n \n \n (147)\n \n \n 89\n \n \n (432)\n \n \n Exchange rate movements\n \n \n (86)\n \n \n (7)\n \n \n (8)\n \n \n (74)\n \n \n (11)\n \n \n 43\n \n \n 19\n \n \n 44\n \n \n Interest days\n \n \n (248)\n \n \n 129\n \n \n 130\n \n \n (225)\n \n \n 127\n \n \n Long term funding\n \n \n 35\n \n \n 15\n \n \n 23\n \n \n (50)\n \n \n (110)\n \n \n (16)\n \n \n 21\n \n \n (5)\n \n \n Amortisation effects and fees\n \n \n (176)\n \n \n 47\n \n \n 50\n \n \n (66)\n \n \n 43\n \n \n 182\n \n \n 70\n \n \n 86\n \n \n Equity and non-interest bearing items\n \n \n (6)\n \n \n 40\n \n \n (202)\n \n \n (66)\n \n \n (99)\n \n \n 41\n \n \n 4\n \n \n 65\n \n \n Contributions to the deposit guarantee and resolution funds\n \n \n (7)\n \n \n (1)\n \n \n 2\n \n \n 1\n \n \n (13)\n \n \n (2)\n \n \n 45\n \n \n (28)\n \n \n Interest income on loans subject to impairment provisions\n \n \n (62)\n \n \n 8\n \n \n 13\n \n \n (35)\n \n \n 0\n \n \n 29\n \n \n (13)\n \n \n 58\n \n \n Other net interest income\n \n \n (112)\n \n \n 541\n \n \n (187)\n \n \n (66)\n \n \n (16)\n \n \n 162\n \n \n 172\n \n \n 279\n \n \n Total\n \n \n (880)\n \n \n 188\n \n \n (162)\n \n \n (258)\n \n \n (308)\n \n \n 589\n \n \n 312\n \n \n 290\n \n \n Net other operating income\n \n Amounts in NOK million\n \n \n 1Q26\n \n \n 4Q25\n \n \n 3Q25\n \n \n 2Q25\n \n \n 1Q25\n \n \n 4Q24\n \n \n 3Q24\n \n \n 2Q24\n \n \n 1Q24\n \n \n Money transfer and interbank transactions\n \n \n 523\n \n \n 546\n \n \n 654\n \n \n 555\n \n \n 581\n \n \n 587\n \n \n 641\n \n \n 626\n \n \n 558\n \n \n Guarantee commissions\n \n \n 255\n \n \n 296\n \n \n 263\n \n \n 306\n \n \n 288\n \n \n 290\n \n \n 279\n \n \n 271\n \n \n 258\n \n \n Asset management services\n \n \n 1,153\n \n \n 1,244\n \n \n 1,135\n \n \n 1,060\n \n \n 827\n \n \n 712\n \n \n 658\n \n \n 596\n \n \n 536\n \n \n Credit broking\n \n \n 120\n \n \n 245\n \n \n 151\n \n \n 165\n \n \n 66\n \n \n 172\n \n \n 69\n \n \n 137\n \n \n 116\n \n \n Corporate finance\n \n \n 772\n \n \n 1,153\n \n \n 635\n \n \n 970\n \n \n 699\n \n \n 562\n \n \n 402\n \n \n 731\n \n \n 276\n \n \n Real estate broking\n \n \n 291\n \n \n 241\n \n \n 289\n \n \n 357\n \n \n 282\n \n \n 228\n \n \n 265\n \n \n 344\n \n \n 220\n \n \n Custodial services\n \n \n 72\n \n \n 90\n \n \n 74\n \n \n 106\n \n \n 90\n \n \n 81\n \n \n 68\n \n \n 93\n \n \n 100\n \n \n Securities broking\n \n \n 490\n \n \n 365\n \n \n 307\n \n \n 404\n \n \n 240\n \n \n 145\n \n \n 162\n \n \n 149\n \n \n 159\n \n \n Sale of insurance products\n \n \n 454\n \n \n 451\n \n \n 429\n \n \n 385\n \n \n 381\n \n \n 394\n \n \n 356\n \n \n 351\n \n \n 319\n \n \n Other income from banking services\n \n \n (0)\n \n \n (20)\n \n \n (21)\n \n \n 61\n \n \n 45\n \n \n 117\n \n \n 139\n \n \n 141\n \n \n 160\n \n \n Net commissions and fees\n \n \n 4,129\n \n \n 4,612\n \n \n 3,916\n \n \n 4,370\n \n \n 3,500\n \n \n 3,287\n \n \n 3,038\n \n \n 3,439\n \n \n 2,702\n \n \n Net gains on financial instruments at fair value\n \n \n 1,197\n \n \n 1,333\n \n \n 1,387\n \n \n 519\n \n \n 1,193\n \n \n 372\n \n \n 1,660\n \n \n 1,010\n \n \n 1,183\n \n \n Net life insurance result\n \n \n 486\n \n \n 547\n \n \n 521\n \n \n 357\n \n \n 280\n \n \n 467\n \n \n 318\n \n \n 433\n \n \n 203\n \n \n Profit from investments accounted for by the equity method\n \n \n \n 247\n \n \n \n 424\n \n \n \n 361\n \n \n \n 394\n \n \n \n 27\n \n \n \n 256\n \n \n \n 1,016\n \n \n \n 258\n \n \n \n 188\n \n \n Net gains on investment properties\n \n \n 4\n \n \n (21)\n \n \n 5\n \n \n (2)\n \n \n 9\n \n \n 102\n \n \n 5\n \n \n (7)\n \n \n 3\n \n \n Other income\n \n \n 431\n \n \n 482\n \n \n 511\n \n \n 701\n \n \n 494\n \n \n 515\n \n \n 685\n \n \n 622\n \n \n 592\n \n \n Other operating income\n \n \n 682\n \n \n 885\n \n \n 876\n \n \n 1,093\n \n \n 530\n \n \n 873\n \n \n 1,706\n \n \n 873\n \n \n 783\n \n \n Net other operating income, total\n \n \n 6,494\n \n \n 7,376\n \n \n 6,700\n \n \n 6,339\n \n \n 5,503\n \n \n 4,998\n \n \n 6,722\n \n \n 5,756\n \n \n 4,872\n \n Full-year figures\n \n Amounts in NOK million\n \n \n 2025\n \n \n 2024\n \n \n 2023\n \n \n 2022\n \n \n 2021\n \n \n Money transfer and interbank transactions\n \n \n 2,337\n \n \n 2,412\n \n \n 2,371\n \n \n 2,121\n \n \n 1,406\n \n \n Guarantee commissions\n \n \n 1,154\n \n \n 1,098\n \n \n 997\n \n \n 932\n \n \n 853\n \n \n Asset management services\n \n \n 4,267\n \n \n 2,503\n \n \n 2,055\n \n \n 1,868\n \n \n 1,773\n \n \n Credit broking\n \n \n 627\n \n \n 494\n \n \n 319\n \n \n 308\n \n \n 618\n \n \n Corporate finance\n \n \n 3,457\n \n \n 1,970\n \n \n 1,511\n \n \n 1,453\n \n \n 1,827\n \n \n Real estate broking\n \n \n 1,169\n \n \n 1,056\n \n \n 1,050\n \n \n 1,067\n \n \n 1,258\n \n \n Custodial services\n \n \n 360\n \n \n 342\n \n \n 342\n \n \n 363\n \n \n 257\n \n \n Securities broking\n \n \n 1,316\n \n \n 616\n \n \n 596\n \n \n 603\n \n \n 555\n \n \n Sale of insurance products\n \n \n 1,646\n \n \n 1,419\n \n \n 1,376\n \n \n 1,382\n \n \n 2,482\n \n \n Other income from banking services\n \n \n 66\n \n \n 556\n \n \n 497\n \n \n 231\n \n \n (17)\n \n \n Net commissions and fees\n \n \n 16,398\n \n \n 12,466\n \n \n 11,115\n \n \n 10,328\n \n \n 11,011\n \n \n Net gains on financial instruments at fair value\n \n \n 4,431\n \n \n 4,225\n \n \n 5,283\n \n \n 4,147\n \n \n 3,621\n \n \n Net financial result, life insurance (prior to IFRS 17)\n \n \n 581\n \n \n Net risk result, life insurance (prior to IFRS 17)\n \n \n 210\n \n \n Net insurance result\n \n \n 1,705\n \n \n 1,421\n \n \n 1,183\n \n \n 1,235\n \n \n Net life insurance result\n \n \n 1,705\n \n \n 1,421\n \n \n 1,183\n \n \n 1,235\n \n \n 790\n \n \n Profit from investments accounted for by the equity method\n \n \n \n 1,206\n \n \n \n 1,719\n \n \n \n 449\n \n \n \n 746\n \n \n \n 524\n \n \n Net gains on investment properties\n \n \n (10)\n \n \n 103\n \n \n 43\n \n \n (7)\n \n \n 91\n \n \n Other income\n \n \n 2,188\n \n \n 2,413\n \n \n 2,077\n \n \n 1,390\n \n \n 1,188\n \n \n Other operating income\n \n \n 3,384\n \n \n 4,235\n \n \n 2,569\n \n \n 2,129\n \n \n 1,803\n \n \n Net other operating income, total\n \n \n 25,918\n \n \n 22,347\n \n \n 20,150\n \n \n 17,840\n \n \n 17,225\n \n Net gains on financial instruments at fair value\n \n Amounts in NOK million\n \n \n 1Q26\n \n \n 4Q25\n \n \n 3Q25\n \n \n 2Q25\n \n \n 1Q25\n \n \n 4Q24\n \n \n 3Q24\n \n \n 2Q24\n \n \n 1Q24\n \n \n Customer revenues in DNB Carnegie\n \n \n 853\n \n \n 930\n \n \n 700\n \n \n 898\n \n \n 786\n \n \n 894\n \n \n 921\n \n \n 851\n \n \n 715\n \n \n Trading revenues in DNB Carnegie (excl. CVA/DVA/FVA and credit spreads effects) 1 \n 336\n \n \n \n 131\n \n \n \n 97\n \n \n \n 189\n \n \n \n 212\n \n \n \n 268\n \n \n \n 138\n \n \n \n 225\n \n \n \n 227\n \n \n Hedging of defined-benefit pension scheme\n \n \n 27\n \n \n 45\n \n \n 91\n \n \n 118\n \n \n (8)\n \n \n (5)\n \n \n 42\n \n \n 39\n \n \n 99\n \n \n Credit spreads on bonds\n \n \n 44\n \n \n 11\n \n \n 30\n \n \n 17\n \n \n (7)\n \n \n (50)\n \n \n 32\n \n \n 57\n \n \n 87\n \n \n Credit spreads on fixed-rate loans\n \n \n 32\n \n \n 50\n \n \n 6\n \n \n 3\n \n \n 16\n \n \n (28)\n \n \n (55)\n \n \n 110\n \n \n 54\n \n \n CVA/DVA/FVA\n \n \n 30\n \n \n 10\n \n \n 51\n \n \n (60)\n \n \n 39\n \n \n 77\n \n \n (153)\n \n \n 42\n \n \n 42\n \n \n Other mark-to-market adjustments\n \n \n 409\n \n \n (175)\n \n \n 284\n \n \n (327)\n \n \n 406\n \n \n (930)\n \n \n 947\n \n \n 55\n \n \n (344)\n \n \n Basis swaps\n \n \n 30\n \n \n 83\n \n \n 264\n \n \n (97)\n \n \n 209\n \n \n (836)\n \n \n (194)\n \n \n (290)\n \n \n (240)\n \n \n Exchange rate effects related to additional Tier 1 capital\n \n \n \n (566)\n \n \n \n 248\n \n \n \n (136)\n \n \n \n (222)\n \n \n \n (459)\n \n \n \n 982\n \n \n \n (19)\n \n \n \n (79)\n \n \n \n 543\n \n \n Net gains on financial instruments at fair value\n \n \n 1,197\n \n \n 1,333\n \n \n 1,387\n \n \n 519\n \n \n 1,193\n \n \n 372\n \n \n 1,660\n \n \n 1,010\n \n \n 1,183\n \n Full-year figures\n \n Amounts in NOK million\n \n \n 2025\n \n \n 2024\n \n \n 2023\n \n \n 2022\n \n \n 2021\n \n \n Customer revenues in DNB Carnegie\n \n \n 3,314\n \n \n 3,380\n \n \n 3,120\n \n \n 2,852\n \n \n 2,228\n \n \n Trading revenues in DNB Carnegie (excl. CVA/DVA/FVA\n \n \n and credit spreads effects) 1 \n 628\n \n \n \n 858\n \n \n \n 1,199\n \n \n \n 761\n \n \n \n 182\n \n \n Hedging of defined-benefit pension scheme\n \n \n 245\n \n \n 176\n \n \n 173\n \n \n (164)\n \n \n 219\n \n \n Credit spreads on bonds\n \n \n 51\n \n \n 126\n \n \n 70\n \n \n (331)\n \n \n 182\n \n \n Credit spreads on fixed-rate loans\n \n \n 74\n \n \n 81\n \n \n (18)\n \n \n (443)\n \n \n 74\n \n \n CVA/DVA/FVA\n \n \n 40\n \n \n 9\n \n \n 42\n \n \n 103\n \n \n 262\n \n \n Other mark-to-market adjustments\n \n \n 189\n \n \n (273)\n \n \n 976\n \n \n (247)\n \n \n 296\n \n \n Basis swaps\n \n \n 458\n \n \n (1,559)\n \n \n (612)\n \n \n 822\n \n \n (310)\n \n \n Exchange rate effects related to additional Tier 1 capital\n \n \n (568)\n \n \n 1,427\n \n \n 332\n \n \n 794\n \n \n 487\n \n \n Net gains on financial instruments at fair value\n \n \n 4,431\n \n \n 4,225\n \n \n 5,283\n \n \n 4,147\n \n \n 3,621\n \n 1 CVA: Credit valuation adjustment. DVA: Debit valuation adjustment. FVA: Funding valuation adjustment.\n \n \n Profit from investments accounted for by the equity method - Fremtind \n \n DNB Group's share of Fremtind's financial results 1 \n Income statement 2\n \n Amounts in NOK million\n \n \n 1Q26\n \n \n 4Q25\n \n \n 3Q25\n \n \n 2Q25\n \n \n 1Q25\n \n \n 4Q24\n \n \n 3Q24\n \n \n 2Q24\n \n \n 1Q24\n \n \n Income\n \n \n Profit after tax\n \n \n 6,334\n \n \n 873\n \n \n 6,047\n \n \n 1,044\n \n \n 6,223\n \n \n 1,161\n \n \n 5,386\n \n \n 850\n \n \n 6,086\n \n \n 606\n \n \n 6,044\n \n \n 964\n \n \n 6,116\n \n \n 825\n \n \n 4,008\n \n \n 388\n \n \n 4,293\n \n \n 206\n \n \n Share of profit after tax\n \n \n 249\n \n \n 297\n \n \n 330\n \n \n 242\n \n \n 172\n \n \n 274\n \n \n 235\n \n \n 136\n \n \n 72\n \n \n Depreciation and impairment of value adjustments after tax\n \n \n (42)\n \n \n (42)\n \n \n (42)\n \n \n (42)\n \n \n (42)\n \n \n (42)\n \n \n (42)\n \n \n (53)\n \n \n (53)\n \n \n Merger with Eika Forsikring\n \n \n 716\n \n \n Other adjustments\n \n \n (0)\n \n \n (0)\n \n \n (39)\n \n \n 39\n \n \n (90)\n \n \n (32)\n \n \n (30)\n \n \n 42\n \n \n 0\n \n \n The Group's share of profit after tax 2 \n 207\n \n \n 255\n \n \n 250\n \n \n 239\n \n \n 40\n \n \n 200\n \n \n 879\n \n \n 125\n \n \n 19\n \n Balance sheet\n \n Amounts in NOK million\n \n \n 31 March\n \n \n 2026\n \n \n 31 Dec.\n \n \n 2025\n \n \n 30 Sept.\n \n \n 2025\n \n \n 30 June\n \n \n 2025\n \n \n 31 March\n \n \n 2025\n \n \n 31 Dec.\n \n \n 2024\n \n \n 30 Sept.\n \n \n 2024\n \n \n 30 June\n \n \n 2023\n \n \n 31 March\n \n \n 2024\n \n \n The Group's share of equity Unpaid dividends\n \n \n Goodwill\n \n \n Value adjustments after tax Eliminations\n \n \n 4,667\n \n \n 1,053\n \n \n 1,286\n \n \n 566\n \n \n 11\n \n \n 4,421\n \n \n 1,053\n \n \n 1,286\n \n \n 608\n \n \n 8\n \n \n 5,184\n \n \n \n 1,286\n \n \n 650\n \n \n (5)\n \n \n 4,848\n \n \n \n 1,286\n \n \n 691\n \n \n 36\n \n \n 4,600\n \n \n 663\n \n \n 1,286\n \n \n 733\n \n \n 58\n \n \n 4,614\n \n \n 663\n \n \n 1,286\n \n \n 775\n \n \n (39)\n \n \n 4,993\n \n \n \n 1,286\n \n \n 817\n \n \n (2)\n \n \n 3,384\n \n \n \n 1,467\n \n \n 1,085\n \n \n 28\n \n \n 3,262\n \n \n 286\n \n \n 1,467\n \n \n 1,138\n \n \n (91)\n \n \n Carrying amount\n \n \n 7,582\n \n \n 7,376\n \n \n 7,115\n \n \n 6,861\n \n \n 7,340\n \n \n 7,300\n \n \n 7,094\n \n \n 5,965\n \n \n 6,062\n \n 1 Represents DNB Bank ASA's ownership interest in Fremtind Forsikring (Fremtind), which was 35 per cent up to and including the second quarter of 2024. After the merger between Eika Forsikring and Fremtind, which was completed on 1 July, DNB's ownership interest in Fremtind is 28.46 per cent.\n \n \n \n Financial performance - Fremtind\n \n Amounts in NOK million\n \n \n 1Q26\n \n \n 4Q25\n \n \n 3Q25\n \n \n 2Q25\n \n \n 1Q25\n \n \n 4Q24\n \n \n 3Q24\n \n \n 2Q24\n \n \n 1Q24\n \n \n Insurance premium\n \n \n 6,334\n \n \n 6,047\n \n \n 6,223\n \n \n 5,386\n \n \n 6,086\n \n \n 6,044\n \n \n 6,116\n \n \n 4,008\n \n \n 4,293\n \n \n Claims\n \n \n (4,984)\n \n \n (4,895)\n \n \n (4,755)\n \n \n (4,482)\n \n \n (5,167)\n \n \n (4,888)\n \n \n (5,128)\n \n \n (3,695)\n \n \n (4,418)\n \n \n Other operational income/cost\n \n \n 5\n \n \n 16\n \n \n (38)\n \n \n (463)\n \n \n (224)\n \n \n 142\n \n \n (372)\n \n \n (158)\n \n \n 32\n \n \n Operational profit\n \n \n 1,355\n \n \n 1,167\n \n \n 1,430\n \n \n 440\n \n \n 695\n \n \n 1,299\n \n \n 616\n \n \n 154\n \n \n (93)\n \n \n Other income/cost\n \n \n (153)\n \n \n (386)\n \n \n (268)\n \n \n (154)\n \n \n (147)\n \n \n (172)\n \n \n (148)\n \n \n (32)\n \n \n (25)\n \n \n Financial results\n \n \n (25)\n \n \n 592\n \n \n 341\n \n \n 850\n \n \n 305\n \n \n 43\n \n \n 627\n \n \n 374\n \n \n 351\n \n \n Pre-tax operating profit\n \n \n 1,177\n \n \n 1,373\n \n \n 1,503\n \n \n 1,136\n \n \n 852\n \n \n 1,170\n \n \n 1,095\n \n \n 495\n \n \n 233\n \n \n Tax expense\n \n \n (303)\n \n \n (329)\n \n \n (342)\n \n \n (286)\n \n \n (246)\n \n \n (207)\n \n \n (271)\n \n \n (108)\n \n \n (27)\n \n \n Profit after tax\n \n \n 873\n \n \n 1,044\n \n \n 1,161\n \n \n 850\n \n \n 606\n \n \n 964\n \n \n 825\n \n \n 388\n \n \n 206\n \n \n Claims ratio (%)\n \n \n 57.9\n \n \n 58.8\n \n \n 55.6\n \n \n 59.5\n \n \n 64.5\n \n \n 61.1\n \n \n 65.5\n \n \n 70.7\n \n \n 83.9\n \n \n Cost/income ratio (%)\n \n \n 20.8\n \n \n 22.2\n \n \n 20.8\n \n \n 23.8\n \n \n 20.4\n \n \n 19.8\n \n \n 18.3\n \n \n 21.6\n \n \n 19.0\n \n \n Combined ratio (%)\n \n \n 78.7\n \n \n 81.0\n \n \n 76.4\n \n \n 83.3\n \n \n 84.9\n \n \n 80.9\n \n \n 83.8\n \n \n 92.2\n \n \n 102.9\n \n \n Book equity at end of period\n \n \n 16,397\n \n \n 15,533\n \n \n 18,216\n \n \n 17,033\n \n \n 16,162\n \n \n 16,213\n \n \n 17,544\n \n \n 9,669\n \n \n 9,319\n \n \n Return on equity, annualised (%)\n \n \n 21.9\n \n \n 24.8\n \n \n 26.4\n \n \n 20.5\n \n \n 15.3\n \n \n 23.2\n \n \n 24.1\n \n \n 14.9\n \n \n 8.9\n \n \n Return on financial portfolio (%) 1 \n (0.1)\n \n \n 1.9\n \n \n 1.1\n \n \n 3.0\n \n \n 1.0\n \n \n 0.2\n \n \n 2.4\n \n \n 1.4\n \n \n 1.5\n \n \n Solvency II ratio at end of period (%) 2 \n 197\n \n \n 215\n \n \n 203\n \n \n 187\n \n \n 187\n \n \n 217\n \n \n 206\n \n \n 185\n \n \n 191\n \n 1 Value adjusted.\n \n \n 2 Preliminary ratio.\n \n Operating expenses\n \n Amounts in NOK million\n \n \n 1Q26\n \n \n 4Q25\n \n \n 3Q25\n \n \n 2Q25\n \n \n 1Q25\n \n \n 4Q24\n \n \n 3Q24\n \n \n 2Q24\n \n \n 1Q24\n \n \n Salaries\n \n \n (3,558)\n \n \n (3,980)\n \n \n (3,508)\n \n \n (3,690)\n \n \n (3,288)\n \n \n (3,251)\n \n \n (3,117)\n \n \n (3,065)\n \n \n (2,932)\n \n \n Employer's national insurance contributions\n \n \n (675)\n \n \n (679)\n \n \n (696)\n \n \n (647)\n \n \n (628)\n \n \n (639)\n \n \n (616)\n \n \n (579)\n \n \n (600)\n \n \n Pension expenses\n \n \n (479)\n \n \n (629)\n \n \n (646)\n \n \n (681)\n \n \n (469)\n \n \n (479)\n \n \n (528)\n \n \n (523)\n \n \n (568)\n \n \n Restructuring expenses\n \n \n (45)\n \n \n (49)\n \n \n (55)\n \n \n (30)\n \n \n (23)\n \n \n (427)\n \n \n (0)\n \n \n (3)\n \n \n (10)\n \n \n Other personnel expenses\n \n \n (184)\n \n \n (211)\n \n \n (178)\n \n \n (155)\n \n \n (181)\n \n \n (188)\n \n \n (138)\n \n \n (149)\n \n \n (152)\n \n \n Total salaries and other personnel expenses\n \n \n (4,941)\n \n \n (5,547)\n \n \n (5,082)\n \n \n (5,203)\n \n \n (4,590)\n \n \n (4,982)\n \n \n (4,399)\n \n \n (4,319)\n \n \n (4,261)\n \n \n Fees\n \n \n (158)\n \n \n (219)\n \n \n (162)\n \n \n (204)\n \n \n (246)\n \n \n (209)\n \n \n (166)\n \n \n (164)\n \n \n (156)\n \n \n IT expenses\n \n \n (1,621)\n \n \n (1,759)\n \n \n (1,680)\n \n \n (1,655)\n \n \n (1,519)\n \n \n (1,468)\n \n \n (1,371)\n \n \n (1,487)\n \n \n (1,446)\n \n \n Postage and telecommunications\n \n \n (38)\n \n \n (36)\n \n \n (34)\n \n \n (30)\n \n \n (32)\n \n \n (28)\n \n \n (27)\n \n \n (31)\n \n \n (22)\n \n \n Office supplies\n \n \n (8)\n \n \n (8)\n \n \n (6)\n \n \n (9)\n \n \n (5)\n \n \n (6)\n \n \n (5)\n \n \n (7)\n \n \n (5)\n \n \n Marketing and public relations\n \n \n (276)\n \n \n (295)\n \n \n (223)\n \n \n (259)\n \n \n (222)\n \n \n (227)\n \n \n (209)\n \n \n (272)\n \n \n (205)\n \n \n Travel expenses\n \n \n (80)\n \n \n (99)\n \n \n (60)\n \n \n (77)\n \n \n (61)\n \n \n (77)\n \n \n (59)\n \n \n (68)\n \n \n (48)\n \n \n Reimbursement to Norway Post for transactions executed\n \n \n (0)\n \n \n (0)\n \n \n (0)\n \n \n (0)\n \n \n (0)\n \n \n (1)\n \n \n (0)\n \n \n (0)\n \n \n Training expenses\n \n \n (26)\n \n \n (22)\n \n \n (18)\n \n \n (14)\n \n \n (27)\n \n \n (39)\n \n \n (16)\n \n \n (18)\n \n \n (16)\n \n \n Operating expenses on properties and premises\n \n \n (112)\n \n \n (128)\n \n \n (114)\n \n \n (127)\n \n \n (111)\n \n \n (102)\n \n \n (106)\n \n \n (85)\n \n \n (107)\n \n \n Operating expenses on machinery, vehicles and office equipment\n \n \n \n (9)\n \n \n \n (9)\n \n \n \n (7)\n \n \n \n (8)\n \n \n \n (8)\n \n \n \n (7)\n \n \n \n (6)\n \n \n \n (7)\n \n \n \n (7)\n \n \n Other operating expenses\n \n \n (240)\n \n \n (285)\n \n \n (155)\n \n \n (167)\n \n \n (199)\n \n \n (171)\n \n \n (158)\n \n \n (150)\n \n \n (136)\n \n \n Total other expenses\n \n \n (2,569)\n \n \n (2,861)\n \n \n (2,460)\n \n \n (2,549)\n \n \n (2,431)\n \n \n (2,334)\n \n \n (2,123)\n \n \n (2,288)\n \n \n (2,148)\n \n \n Depreciation and impairment of fixed and intangible assets\n \n \n (930)\n \n \n (952)\n \n \n (941)\n \n \n (972)\n \n \n (886)\n \n \n (910)\n \n \n (910)\n \n \n (898)\n \n \n (875)\n \n \n Total operating expenses\n \n \n (8,441)\n \n \n (9,361)\n \n \n (8,483)\n \n \n (8,725)\n \n \n (7,907)\n \n \n (8,227)\n \n \n (7,431)\n \n \n (7,505)\n \n \n (7,284)\n \n Full year figures\n \n Amounts in NOK million\n \n \n 2025\n \n \n 2024\n \n \n 2023\n \n \n 2022\n \n \n 2021\n \n \n Salaries\n \n \n (14,466)\n \n \n (12,364)\n \n \n (11,554)\n \n \n (10,619)\n \n \n (9,555)\n \n \n Employer's national insurance contributions\n \n \n (2,650)\n \n \n (2,434)\n \n \n (2,243)\n \n \n (1,984)\n \n \n (1,743)\n \n \n Pension expenses\n \n \n (2,425)\n \n \n (2,097)\n \n \n (1,880)\n \n \n (1,373)\n \n \n (1,631)\n \n \n Restructuring expenses\n \n \n (156)\n \n \n (440)\n \n \n (42)\n \n \n (18)\n \n \n (142)\n \n \n Other personnel expenses\n \n \n (725)\n \n \n (626)\n \n \n (600)\n \n \n (697)\n \n \n (755)\n \n \n Total salaries and other personnel expenses\n \n \n (20,422)\n \n \n (17,961)\n \n \n (16,320)\n \n \n (14,690)\n \n \n (13,826)\n \n \n Fees\n \n \n (832)\n \n \n (695)\n \n \n (735)\n \n \n (765)\n \n \n (640)\n \n \n IT expenses\n \n \n (6,614)\n \n \n (5,772)\n \n \n (5,298)\n \n \n (4,366)\n \n \n (3,923)\n \n \n Postage and telecommunications\n \n \n (131)\n \n \n (108)\n \n \n (117)\n \n \n (154)\n \n \n (132)\n \n \n Office supplies\n \n \n (28)\n \n \n (23)\n \n \n (22)\n \n \n (28)\n \n \n (40)\n \n \n Marketing and public relations\n \n \n (999)\n \n \n (913)\n \n \n (916)\n \n \n (841)\n \n \n (675)\n \n \n Travel expenses\n \n \n (297)\n \n \n (251)\n \n \n (228)\n \n \n (184)\n \n \n (55)\n \n \n Reimbursement to Norway Post for transactions executed\n \n \n (0)\n \n \n (1)\n \n \n (0)\n \n \n (0)\n \n \n (0)\n \n \n Training expenses\n \n \n (82)\n \n \n (89)\n \n \n (76)\n \n \n (74)\n \n \n (53)\n \n \n Operating expenses on properties and premises\n \n \n (480)\n \n \n (400)\n \n \n (435)\n \n \n (427)\n \n \n (409)\n \n \n Operating expenses on machinery, vehicles and office equipment\n \n \n \n (33)\n \n \n \n (27)\n \n \n \n (31)\n \n \n \n (32)\n \n \n \n (59)\n \n \n Other operating expenses\n \n \n (806)\n \n \n (614)\n \n \n (649)\n \n \n (778)\n \n \n (858)\n \n \n Total other expenses\n \n \n (10,302)\n \n \n (8,893)\n \n \n (8,506)\n \n \n (7,648)\n \n \n (6,845)\n \n \n Impairment losses for goodwill\n \n \n (2)\n \n \n (7)\n \n \n Depreciation and impairment of fixed and intangible assets\n \n \n (3,751)\n \n \n (3,594)\n \n \n (3,794)\n \n \n (3,463)\n \n \n (3,356)\n \n \n Total depreciation and impairment of fixed and intangible\n \n \n assets\n \n \n \n (3,751)\n \n \n \n (3,594)\n \n \n \n (3,794)\n \n \n \n (3,465)\n \n \n \n (3,363)\n \n \n Total operating expenses\n \n \n (34,476)\n \n \n (30,448)\n \n \n (28,620)\n \n \n (25,803)\n \n \n (24,034)\n \n Full-time positions based on the operational structure\n \n Full-time positions\n \n \n 31 March\n \n \n 2026¹\n \n \n 31 Dec.\n \n \n 2025¹\n \n \n 30 Sept.\n \n \n 2025¹\n \n \n 30 June\n \n \n 2025¹\n \n \n 31 March\n \n \n 2025¹\n \n \n 31 Dec.\n \n \n 2024\n \n \n 30 Sept.\n \n \n 2024\n \n \n 30 June\n \n \n 2024\n \n \n 31 March\n \n \n 2024\n \n \n Total ordinary operations*\n \n \n 10,683\n \n \n 10,829\n \n \n 10,917\n \n \n 11,058\n \n \n 11,188\n \n \n 10,603\n \n \n 10,719\n \n \n 10,628\n \n \n 10,584\n \n \n * Of which:\n \n \n Personal Banking\n \n \n 2,627\n \n \n Technology & Services\n \n \n 2,197\n \n \n Large Corporates & International\n \n \n 1,307\n \n \n Corporate Banking Norway\n \n \n 1,006\n \n \n DNB Carnegie¹ ²\n \n \n 1,393\n \n \n Wealth Management ¹\n \n \n 1,096\n \n \n Group Finance\n \n \n 407\n \n \n Products, Data & Innovation\n \n \n 167\n \n \n People & Communication\n \n \n 170\n \n \n Group Risk Management\n \n \n 148\n \n \n Other entities\n \n \n 164\n \n Carnegie has been included from March 2025, and from the second quarter of 2025 included in the respective areas.\n \n \n DNB Markets was renamed DNB Carnegie in May 2025.\n \n \n IT expenses\n \n \n Amounts in NOK million\n \n \n 1Q26\n \n \n 4Q25\n \n \n 3Q25\n \n \n 2Q25\n \n \n 1Q25\n \n \n 4Q24\n \n \n 3Q24\n \n \n 2Q24\n \n \n 1Q24\n \n \n Software and licenses\n \n \n (660)\n \n \n (658)\n \n \n (652)\n \n \n (591)\n \n \n (544)\n \n \n (483)\n \n \n (450)\n \n \n (461)\n \n \n (488)\n \n \n IT consultants\n \n \n (489)\n \n \n (669)\n \n \n (622)\n \n \n (609)\n \n \n (583)\n \n \n (617)\n \n \n (541)\n \n \n (660)\n \n \n (613)\n \n \n Leasing\n \n \n 8\n \n \n 8\n \n \n 8\n \n \n 8\n \n \n 8\n \n \n (2)\n \n \n 6\n \n \n 8\n \n \n 8\n \n \n Other IT expenses\n \n \n (480)\n \n \n (440)\n \n \n (414)\n \n \n (464)\n \n \n (400)\n \n \n (367)\n \n \n (386)\n \n \n (375)\n \n \n (353)\n \n \n IT expenses\n \n \n (1,621)\n \n \n (1,759)\n \n \n (1,680)\n \n \n (1,655)\n \n \n (1,519)\n \n \n (1,468)\n \n \n (1,371)\n \n \n (1,487)\n \n \n (1,446)\n \n \n Depreciation\n \n \n (117)\n \n \n (125)\n \n \n (114)\n \n \n (114)\n \n \n (105)\n \n \n (132)\n \n \n (103)\n \n \n (102)\n \n \n (95)\n \n \n Impairment\n \n \n 0\n \n \n (0)\n \n \n (23)\n \n \n (8)\n \n \n Depreciation and impairment\n \n \n (117)\n \n \n (125)\n \n \n (114)\n \n \n (137)\n \n \n (105)\n \n \n (140)\n \n \n (103)\n \n \n (102)\n \n \n (95)\n \n \n Total IT expenses\n \n \n (1,737)\n \n \n (1,884)\n \n \n (1,794)\n \n \n (1,792)\n \n \n (1,624)\n \n \n (1,609)\n \n \n (1,474)\n \n \n (1,589)\n \n \n (1,541)\n \n \n Capitalised systems development expenses\n \n \n 2,066\n \n \n 2,088\n \n \n 1,958\n \n \n 1,963\n \n \n 1,879\n \n \n 1,928\n \n \n 1,754\n \n \n 1,635\n \n \n 1,593\n \n The figures do not include salaries and indirect expenses.\n \n \n \n 1.5.1 Loans and financial commitments to customers by industry segment\n \n \n \n Maximum exposure is the gross carrying amount of loans to customers plus off-balance exposure, which mainly includes guarantees, unutilised credit lines and loan offers.\n \n \n \n As at 31 December 2025\n \n Amounts in NOK million\n \n \n Maximum exposure\n \n \n Accumulated impairment\n \n \n Stage 1\n \n \n Stage 2\n \n \n Stage 3\n \n \n Total\n \n \n Stage 1\n \n \n Stage 2\n \n \n Stage 3\n \n \n Total\n \n \n Net total\n \n \n Bank, insurance and portfolio management\n \n \n 409,104\n \n \n 1,234\n \n \n 1,538\n \n \n 411,876\n \n \n (39)\n \n \n (4)\n \n \n (142)\n \n \n (185)\n \n \n 411,690\n \n \n Commercial real estate\n \n \n 274,920\n \n \n 15,370\n \n \n 3,974\n \n \n 294,264\n \n \n (190)\n \n \n (103)\n \n \n (646)\n \n \n (939)\n \n \n 293,325\n \n \n Shipping\n \n \n 57,069\n \n \n 1,085\n \n \n 9\n \n \n 58,163\n \n \n (32)\n \n \n (3)\n \n \n (1)\n \n \n (36)\n \n \n 58,127\n \n \n Oil, gas and offshore\n \n \n 112,174\n \n \n 4,626\n \n \n 857\n \n \n 117,657\n \n \n (34)\n \n \n (17)\n \n \n (328)\n \n \n (379)\n \n \n 117,278\n \n \n Power and renewables\n \n \n 144,802\n \n \n 6,201\n \n \n 2,238\n \n \n 153,241\n \n \n (51)\n \n \n (23)\n \n \n (825)\n \n \n (899)\n \n \n 152,342\n \n \n Healthcare\n \n \n 60,481\n \n \n 787\n \n \n 692\n \n \n 61,959\n \n \n (27)\n \n \n (14)\n \n \n (208)\n \n \n (250)\n \n \n 61,709\n \n \n Public sector\n \n \n 19,043\n \n \n 25\n \n \n 0\n \n \n 19,069\n \n \n (0)\n \n \n (0)\n \n \n (0)\n \n \n (0)\n \n \n 19,068\n \n \n Fishing, fish farming and farming\n \n \n 112,161\n \n \n 6,653\n \n \n 962\n \n \n 119,776\n \n \n (23)\n \n \n (33)\n \n \n (155)\n \n \n (210)\n \n \n 119,566\n \n \n Retail industries\n \n \n 79,507\n \n \n 8,596\n \n \n 1,875\n \n \n 89,978\n \n \n (53)\n \n \n (142)\n \n \n (377)\n \n \n (572)\n \n \n 89,406\n \n \n Manufacturing\n \n \n 110,754\n \n \n 7,378\n \n \n 3,007\n \n \n 121,140\n \n \n (40)\n \n \n (48)\n \n \n (430)\n \n \n (518)\n \n \n 120,622\n \n \n Technology, media and telecom\n \n \n 70,147\n \n \n 3,311\n \n \n 110\n \n \n 73,569\n \n \n (29)\n \n \n (42)\n \n \n (44)\n \n \n (115)\n \n \n 73,453\n \n \n Services\n \n \n 88,618\n \n \n 5,821\n \n \n 1,415\n \n \n 95,854\n \n \n (56)\n \n \n (78)\n \n \n (510)\n \n \n (644)\n \n \n 95,211\n \n \n Residential property\n \n \n 127,988\n \n \n 6,980\n \n \n 2,430\n \n \n 137,398\n \n \n (72)\n \n \n (54)\n \n \n (642)\n \n \n (768)\n \n \n 136,629\n \n \n Personal customers\n \n \n 1,302,636\n \n \n 52,689\n \n \n 5,350\n \n \n 1,360,676\n \n \n (244)\n \n \n (274)\n \n \n (632)\n \n \n (1,149)\n \n \n 1,359,526\n \n \n Other corporate customers\n \n \n 119,159\n \n \n 9,239\n \n \n 2,238\n \n \n 130,636\n \n \n (67)\n \n \n (118)\n \n \n (973)\n \n \n (1,158)\n \n \n 129,478\n \n \n Total\n \n \n 3,088,562\n \n \n 129,995\n \n \n 26,697\n \n \n 3,245,254\n \n \n (957)\n \n \n (952)\n \n \n (5,914)\n \n \n (7,823)\n \n \n 3,237,432\n \n Stage 1 - loans and financial commitments to customers by industry segment\n \n Amounts in NOK million\n \n \n Maximum exposure\n \n \n Accumulated impairment\n \n \n 31 March\n \n \n 2026\n \n \n 31 Dec.\n \n \n 2025\n \n \n 30 Sept.\n \n \n 2025\n \n \n 30 June\n \n \n 2025\n \n \n 31 March\n \n \n 2026\n \n \n 31 Dec.\n \n \n 2025\n \n \n 30 Sept.\n \n \n 2025\n \n \n 30 June\n \n \n 2025\n \n \n Bank, insurance and portfolio management\n \n \n 409,104\n \n \n 395,249\n \n \n 507,278\n \n \n 320,325\n \n \n (39)\n \n \n (35)\n \n \n (33)\n \n \n (45)\n \n \n Commercial real estate\n \n \n 274,920\n \n \n 279,175\n \n \n 255,065\n \n \n 246,907\n \n \n (190)\n \n \n (191)\n \n \n (190)\n \n \n (184)\n \n \n Shipping\n \n \n 57,069\n \n \n 58,122\n \n \n 53,779\n \n \n 53,183\n \n \n (32)\n \n \n (34)\n \n \n (36)\n \n \n (21)\n \n \n Oil, gas and offshore\n \n \n 112,174\n \n \n 116,171\n \n \n 95,805\n \n \n 101,989\n \n \n (34)\n \n \n (46)\n \n \n (51)\n \n \n (22)\n \n \n Power and renewables\n \n \n 144,802\n \n \n 144,613\n \n \n 139,739\n \n \n 158,860\n \n \n (51)\n \n \n (48)\n \n \n (49)\n \n \n (56)\n \n \n Healthcare\n \n \n 60,481\n \n \n 63,386\n \n \n 57,022\n \n \n 59,309\n \n \n (27)\n \n \n (28)\n \n \n (27)\n \n \n (31)\n \n \n Public sector\n \n \n 19,043\n \n \n 18,880\n \n \n 18,833\n \n \n 20,667\n \n \n (0)\n \n \n (0)\n \n \n (0)\n \n \n Fishing, fish farming and farming\n \n \n 112,161\n \n \n 117,343\n \n \n 114,928\n \n \n 117,168\n \n \n (23)\n \n \n (23)\n \n \n (28)\n \n \n (18)\n \n \n Retail industries\n \n \n 79,507\n \n \n 71,420\n \n \n 75,905\n \n \n 76,056\n \n \n (53)\n \n \n (51)\n \n \n (58)\n \n \n (61)\n \n \n Manufacturing\n \n \n 110,754\n \n \n 112,692\n \n \n 107,903\n \n \n 106,151\n \n \n (40)\n \n \n (48)\n \n \n (55)\n \n \n (59)\n \n \n Technology, media and telecom\n \n \n 70,147\n \n \n 76,115\n \n \n 69,152\n \n \n 65,710\n \n \n (29)\n \n \n (35)\n \n \n (32)\n \n \n (33)\n \n \n Services\n \n \n 88,618\n \n \n 95,293\n \n \n 90,422\n \n \n 87,529\n \n \n (56)\n \n \n (72)\n \n \n (71)\n \n \n (94)\n \n \n Residential property\n \n \n 127,988\n \n \n 125,053\n \n \n 126,900\n \n \n 141,598\n \n \n (72)\n \n \n (69)\n \n \n (77)\n \n \n (79)\n \n \n Personal customers\n \n \n 1,302,636\n \n \n 1,296,253\n \n \n 1,302,486\n \n \n 1,297,544\n \n \n (244)\n \n \n (237)\n \n \n (234)\n \n \n (242)\n \n \n Other corporate customers\n \n \n 119,159\n \n \n 116,996\n \n \n 133,284\n \n \n 106,631\n \n \n (67)\n \n \n (75)\n \n \n (80)\n \n \n (90)\n \n \n Total\n \n \n 3,088,562\n \n \n 3,086,760\n \n \n 3,148,499\n \n \n 2,959,628\n \n \n (957)\n \n \n (992)\n \n \n (1,020)\n \n \n (1,035)\n Loans and financial commitments to customers by industry segment (continued) \n Stage 2 - loans and financial commitments to customers by industry segment\n \n Amounts in NOK million\n \n \n Maximum exposure\n \n \n Accumulated impairment\n \n \n 31 March\n \n \n 2026\n \n \n 31 Dec.\n \n \n 2025\n \n \n 30 Sept.\n \n \n 2025\n \n \n 30 June\n \n \n 2025\n \n \n 31 March\n \n \n 2026\n \n \n 31 Dec.\n \n \n 2025\n \n \n 30 Sept.\n \n \n 2025\n \n \n 30 June\n \n \n 2025\n \n \n Bank, insurance and portfolio management\n \n \n 1,234\n \n \n 2,396\n \n \n 1,702\n \n \n 4,015\n \n \n (4)\n \n \n (22)\n \n \n (5)\n \n \n (13)\n \n \n Commercial real estate\n \n \n 15,370\n \n \n 25,140\n \n \n 27,026\n \n \n 21,990\n \n \n (103)\n \n \n (138)\n \n \n (150)\n \n \n (101)\n \n \n Shipping\n \n \n 1,085\n \n \n 1,879\n \n \n 966\n \n \n 1,058\n \n \n (3)\n \n \n (5)\n \n \n (4)\n \n \n (2)\n \n \n Oil, gas and offshore\n \n \n 4,626\n \n \n 8,768\n \n \n 8,401\n \n \n 1,905\n \n \n (17)\n \n \n (34)\n \n \n (40)\n \n \n (11)\n \n \n Power and renewables\n \n \n 6,201\n \n \n 7,681\n \n \n 9,477\n \n \n 6,986\n \n \n (23)\n \n \n (26)\n \n \n (30)\n \n \n (21)\n \n \n Healthcare\n \n \n 787\n \n \n 982\n \n \n 1,525\n \n \n 2,039\n \n \n (14)\n \n \n (15)\n \n \n (5)\n \n \n (6)\n \n \n Public sector\n \n \n 25\n \n \n 15\n \n \n 24\n \n \n 33\n \n \n (0)\n \n \n (0)\n \n \n (0)\n \n \n Fishing, fish farming and farming\n \n \n 6,653\n \n \n 6,913\n \n \n 7,398\n \n \n 3,287\n \n \n (33)\n \n \n (43)\n \n \n (48)\n \n \n (25)\n \n \n Retail industries\n \n \n 8,596\n \n \n 14,752\n \n \n 14,045\n \n \n 14,184\n \n \n (142)\n \n \n (221)\n \n \n (126)\n \n \n (84)\n \n \n Manufacturing\n \n \n 7,378\n \n \n 9,707\n \n \n 9,550\n \n \n 6,611\n \n \n (48)\n \n \n (48)\n \n \n (76)\n \n \n (49)\n \n \n Technology, media and telecom\n \n \n 3,311\n \n \n 4,681\n \n \n 4,972\n \n \n 5,515\n \n \n (42)\n \n \n (56)\n \n \n (64)\n \n \n (85)\n \n \n Services\n \n \n 5,821\n \n \n 7,727\n \n \n 7,264\n \n \n 8,576\n \n \n (78)\n \n \n (101)\n \n \n (90)\n \n \n (93)\n \n \n Residential property\n \n \n 6,980\n \n \n 11,636\n \n \n 15,367\n \n \n 14,134\n \n \n (54)\n \n \n (64)\n \n \n (72)\n \n \n (67)\n \n \n Personal customers\n \n \n 52,689\n \n \n 35,151\n \n \n 39,160\n \n \n 39,808\n \n \n (274)\n \n \n (185)\n \n \n (205)\n \n \n (175)\n \n \n Other corporate customers\n \n \n 9,239\n \n \n 13,861\n \n \n 13,325\n \n \n 12,267\n \n \n (118)\n \n \n (159)\n \n \n (172)\n \n \n (113)\n \n \n Total\n \n \n 129,995\n \n \n 151,289\n \n \n 160,201\n \n \n 142,410\n \n \n (952)\n \n \n (1,117)\n \n \n (1,086)\n \n \n (845)\n \n Stage 3 - loans and financial commitments to customers by industry segment\n \n Amounts in NOK million\n \n \n Maximum exposure\n \n \n Accumulated impairment\n \n \n 31 March\n \n \n 2026\n \n \n 31 Dec.\n \n \n 2025\n \n \n 30 Sept.\n \n \n 2025\n \n \n 30 June\n \n \n 2025\n \n \n 31 March\n \n \n 2026\n \n \n 31 Dec.\n \n \n 2025\n \n \n 30 Sept.\n \n \n 2025\n \n \n 30 June\n \n \n 2025\n \n \n Bank, insurance and portfolio management\n \n \n 1,538\n \n \n 1,494\n \n \n 1,278\n \n \n 1,220\n \n \n (142)\n \n \n (139)\n \n \n (27)\n \n \n (19)\n \n \n Commercial real estate\n \n \n 3,974\n \n \n 3,225\n \n \n 3,825\n \n \n 2,990\n \n \n (646)\n \n \n (515)\n \n \n (762)\n \n \n (596)\n \n \n Shipping\n \n \n 9\n \n \n 7\n \n \n 5\n \n \n 115\n \n \n (1)\n \n \n (0)\n \n \n (1)\n \n \n (2)\n \n \n Oil, gas and offshore\n \n \n 857\n \n \n 1,153\n \n \n 2,659\n \n \n 2,842\n \n \n (328)\n \n \n (665)\n \n \n (680)\n \n \n (793)\n \n \n Power and renewables\n \n \n 2,238\n \n \n 2,318\n \n \n 2,304\n \n \n 2,376\n \n \n (825)\n \n \n (853)\n \n \n (837)\n \n \n (845)\n \n \n Healthcare\n \n \n 692\n \n \n 712\n \n \n 693\n \n \n 703\n \n \n (208)\n \n \n (213)\n \n \n (140)\n \n \n (95)\n \n \n Public sector\n \n \n 0\n \n \n 1\n \n \n 1\n \n \n (0)\n \n \n (0)\n \n \n (0)\n \n \n Fishing, fish farming and farming\n \n \n 962\n \n \n 915\n \n \n 1,139\n \n \n 1,161\n \n \n (155)\n \n \n (231)\n \n \n (211)\n \n \n (192)\n \n \n Retail industries\n \n \n 1,875\n \n \n 1,917\n \n \n 1,371\n \n \n 1,519\n \n \n (377)\n \n \n (433)\n \n \n (288)\n \n \n (428)\n \n \n Manufacturing\n \n \n 3,007\n \n \n 2,854\n \n \n 467\n \n \n 402\n \n \n (430)\n \n \n (405)\n \n \n (160)\n \n \n (172)\n \n \n Technology, media and telecom\n \n \n 110\n \n \n 116\n \n \n 119\n \n \n 112\n \n \n (44)\n \n \n (56)\n \n \n (56)\n \n \n (47)\n \n \n Services\n \n \n 1,415\n \n \n 1,221\n \n \n 1,305\n \n \n 3,238\n \n \n (510)\n \n \n (422)\n \n \n (409)\n \n \n (400)\n \n \n Residential property\n \n \n 2,430\n \...

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