DNB Bank (DNB) Investor presentation summary

Financial performance and capital position

• Achieved resilient earnings in Q1 2026 with NOK 13,353 million pre-tax operating profit before impairment and a profit for the period of NOK 9,860 million.

• Return on equity at 14.0% and CET1 ratio at 18.1%, well above the regulatory expectation of 16.4%.

• Cost/income ratio at 38.7% and net interest margin at 1.74% for Q1 2026.

• Initiated a share buy-back program up to 1% of shares, expected to reduce CET1 by ~40bps.

• Strong capital generation, with CET1 consistently above MDA trigger level and robust capital buffers.

Norwegian economic environment

• Mainland GDP growth forecasted at 1.5% for 2026, with low unemployment and positive wage growth supporting consumption.

• Inflation remains above target, with 2026 YTD headline and core inflation at ~3.3% and ~3.2% respectively; policy rate at 4.25% with potential further hike.

• Norway's net wealth exceeds 4x GDP, providing resilience against economic downturns.

Loan book and asset quality

• Portfolio is well-diversified, with 99.4% of loans in stage 1 and 2; stage 3 loans and commitments remain below 1%.

• Continued low impairment levels, with a write-down ratio of 0.11% in Q1 2026.

• Reduced exposure to cyclical industries such as shipping and oil/gas.

• Residential mortgage book is robust, with 61% of loans below 60% LTV and strict lending regulations in place.