DNB Bank (DNB) Investor presentation summary

Financial performance and capital position

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

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

• Cost/income ratio was 38.7% in Q1 2026, maintaining a target of below 40%.

• Dividend payout ratio remains above 50%, with an ambition to increase nominal dividend per share year over year.

• Strong capital generation, with CET1 capital built up by over 350 bps annually on average in the last three years before shareholder distributions.

Loan book and asset quality

• Portfolio is robust and well-diversified, with 99.4% of loans in stage 1 and 2, and stage 3 loans at 0.68% of total.

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

• Exposure to cyclical industries has been reduced, and the residential mortgage book is highly resilient with strict lending regulations and low LTV ratios.

• Commercial real estate loans represent 10% of total EAD, with 72% of exposure to low-risk customers and 94% in Norway.

• Oil-related and shipping portfolios are small and predominantly low risk.

Norwegian economic environment

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

• Inflation remains above target at 3.3% in Q1 2026, with policy rate at 4% and further hikes expected.

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