)
Visual
earnings real time
DNB Bank (DNB) investor relations material
DNB Bank Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary22 Oct, 2025
Executive summary
Q3 profit was NOK 10,684 million, up 2.3% sequentially but down 12.1% year-over-year; EPS was NOK 6.98, up 2.8% from last quarter but down from NOK 7.83 last year.
Annualised ROE was 15.8% for Q3, with year-to-date EPS at NOK 20.81.
The Norwegian economy remains robust, with GDP growth expected at 1.8%, low unemployment, and rising real wages.
The acquisition of Carnegie was completed in March 2025, strengthening investment banking and wealth management in the Nordics.
Sustainability efforts continued, with NOK 877 billion mobilised for the sustainable transition and NOK 226 billion in sustainable assets under management.
Financial highlights
Net interest income for Q3 was NOK 15,990 million, down 1% sequentially and 0.9% year-over-year, impacted by policy rate changes, repricing, and product mix.
Net commission income rose 28.9% year-over-year, driven by asset management and investment banking; assets under management grew by NOK 54 billion, with NOK 15 billion net after divestment.
Operating expenses were NOK 8,483 million, reflecting seasonally lower activity and one-off integration and restructuring costs.
Total impairment provisions for the quarter were NOK 862 million, mainly from legacy Polish portfolio and ECL model adjustments.
Profit for the first nine months was NOK 31,974 million, down 3.5% year-over-year.
Outlook and guidance
ROE target remains above 14%, with ambitions for 3–4% annual organic loan growth and over 9% annual growth in net commissions and fees from 2025–2027.
Cost/income ratio target is below 40%; long-term tax rate expected at 23%, with 2025 estimated at 20%.
Economists expect one more rate cut in June next year, stabilizing the key policy rate at 3.75%.
Positive sentiment and loan growth expected to continue, supported by strong labor market and real wage growth.
Dividend policy unchanged: payout ratio above 50% and ambition to increase nominal dividend per share annually.
How will DNB manage future CET1 ratio impacts?
What is the outlook for net interest income given rate cuts?
What are the key drivers of increased impairment?
Polish legacy portfolio: Provisioning comfort?
Elaborate on 9% commission income growth drivers.
DNB's view on US renewables regulatory risk?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next DNB Bank earnings date
Pre-Close Call7 Jan, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
Related articles
)
)
Frequently asked questions
Norway's Largest Bank
DNB is Norway's largest bank and an important player in the wider Nordic financial region. Headquartered in Oslo, DNB has woven itself into the fabric of the Nordic economy, playing a crucial role in both local and international financial markets. The bank offers a wide range of traditional banking services for both businesses and private individuals.
A History Spanning two Centuries
DNB's journey began in 1822 when it was founded as Christiania Sparebank. In its early years, it catered primarily to the local population, focusing on providing savings and loan services. The bank expanded its operations significantly through a series of mergers and acquisitions over the years. The most notable of these was the merger between Den Norske Bank (DnB) and Gjensidige NOR in 2003, resulting in the modern iteration of the company. This cemented DNB's place as Norway's largest financial services group, and it has maintained this position to the present day. Today, they’re an important player in the Nordic Banking sphere together compete with other large banks in the region, including names like Danske Bank, Skandinaviska Enskilda Banken, and Nordea.
A Comprehensive Financial Services Provider
As a full-service bank, DNB offers a wide range of financial products and services to its customers. This includes personal and business banking services, wealth management, and insurance. Personal banking services cover everything from day-to-day transaction accounts, credit and debit cards, home and personal loans, to savings and investment opportunities. For businesses, DNB offers corporate banking services, including business loans, cash management solutions, and tailored services for industries like shipping, offshore, and seafood.
Furthermore, DNB has a strong focus on digital banking, providing customers with an advanced mobile banking app that allows for seamless transactions, personal finance management, and easy access to their accounts. With a strong emphasis on digital innovation, DNB offers contemporary, convenient banking solutions that align with the evolving needs of its customers.
DNB in the Nordic Banking Landscape
DNB's influence extends well beyond Norway's borders, making it a notable player in the broader Nordic banking industry. As one of the largest financial institutions in the region, DNB is pivotal to the Nordic financial infrastructure. It has branches, subsidiaries, and representative offices in many countries, serving a wide array of customers from various backgrounds and industries. Today, they also have representational offices in various financial hubs across both Europe and the rest of the world.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage