DNB Bank (DNB) Investor presentation summary

Earnings and financial targets

• Jan-Sept 2026 pre-tax operating profit before impairment NOK 39.745bn, impairments NOK -1.511bn and profit NOK 29.526bn; ROE 14.4%.

• Jan-Sept 2026 cost/income ratio 39.6%, net interest margin 1.72% and write-down ratio 0.09%.

• End-2028 targets: ROE >15%, cost/income ratio <38% and CET1 ratio >16.3%; payout ratio >50% with ambition to raise nominal dividend per share YoY.

• Net interest income contributed 70% of Jan-Sept 2026 total income, net commissions and fees 20%, and other income 10%.

Capital and resilience

• CET1 ratio was 17.3% at 30 September 2026, versus a 16.3% regulatory expectation; leverage ratio was 6.3%, or 6.6% excluding central bank deposits.

• Average annual CET1 capital generation exceeded 350 bps over the last three years before shareholder distributions; 2026 YTD capital reductions were ~110 bps, including three buy-back programmes.

• In the 2025 EU-wide adverse stress test, the CET1 ratio increased 26 bps versus a 304 bps reduction for the European average; the ratio remained above the MDA threshold in the adverse scenario.

• MREL requirement was ~37% of adjusted REA at Q3 2026, requiring minimum EUR ~15.3bn of eligible debt; the stated mix was EUR ~8.1bn SNP and EUR ~7.2bn SP.

Loan book and asset quality

• 99.4% of net loans and financial commitments were in stage 1 and 2; the portfolio was described as robust and well diversified.

• Jan-Sept 2026 total impairment of financial instruments was NOK -1.511bn, with a 0.09% write-down ratio.

• Residential mortgages were stress-tested for a 3 percentage-point rate increase, subject to a 7% floor; lending rules include max 5x gross income debt and max 90% LTV.

• Commercial real estate represented 10.1% of total customer EAD; ~72% of exposure was to low-risk customers and ~93% was in Norway.

• Oil-related exposure was 3.4% and shipping 2.2% of total customer EAD at 30 September 2026.