DNB Bank (DNB) Investor presentation summary

Financial performance and capital position

• Achieved pre-tax operating profit before impairment of NOK 56.2 billion in 2025, with profit for the period at NOK 43.6 billion and a return on equity of 15.9%.

• CET1 ratio at 17.9% as of year-end 2025, well above the regulatory expectation of 16.3%.

• Cost/income ratio at 38.0% and net interest margin at 1.84% for 2025.

• Solid capital generation, with strong buffers above MDA trigger levels and robust leverage ratios.

• Dividend payout ratio above 50%, with ongoing share buy-back programs and stable AT1 coupon payments.

Loan book and asset quality

• Loan portfolio is well-diversified, with 99.4% of exposures in stage 1 and 2, and only 0.6% in stage 3.

• Impairment write-down ratio for 2025 at 0.12%, reflecting low credit losses.

• Reduced exposure to cyclical industries, with oil-related and shipping portfolios comprising 2.9% and 2.2% of total EAD, respectively.

• Residential mortgage book is robust, with 83% of loans having LTV below 75%.

• Commercial real estate loans represent 10.5% of total EAD, with 72% of exposure to low-risk customers.

Norwegian economy and market environment

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

• Inflation remains above Norges Bank's target, with policy rate at 4% and expected to remain stable.

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