DNB Bank (DNB) Investor presentation summary

Financial performance and capital position

• Achieved pre-tax operating profit before impairment of NOK 13,353 million in Q1 2026, with profit for the period at NOK 9,860 million and a return on equity of 14.0%.

• CET1 ratio stands at 18.1%, well above the regulatory expectation of 16.4%, and leverage ratio at 6.5%.

• Cost/income ratio remains below 40%, supporting strong profitability and capital generation.

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

• Solid capital buffers maintained, with CET1 consistently above MDA trigger level and robust capital distribution through dividends and share buy-backs.

Norwegian economic environment

• Mainland GDP growth projected at 1.5% for 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 in 2026.

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

Loan book and asset quality

• Portfolio is 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 robust with strict lending criteria and low LTV ratios.

• Commercial real estate and oil-related portfolios are managed with a focus on low-risk exposures.