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 stood at 17.9% at year-end 2025, well above the regulatory expectation of 16.3%, even after reductions from acquisitions and share buybacks.

• Cost/income ratio was 38.0% in 2025, and the leverage ratio was 6.6% (6.8% excluding central bank deposits).

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

• Strong capital generation and robust performance in EU-wide stress tests, maintaining CET1 above MDA trigger level.

Loan book and asset quality

• Loan book is well-diversified, with 99.4% of exposures in stage 1 and 2, and stage 3 loans at 0.68% of total net loans at year-end 2025.

• Impairment write-down ratio for 2025 was 0.12%, with total impairments of NOK -2.8 billion.

• Exposure to cyclical industries such as shipping, oil, gas, and offshore has been reduced over time.

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

• Commercial real estate, oil-related, and shipping portfolios are managed with a focus on low-risk exposures and strong risk-mitigation measures.

ESG and sustainability

• Holds top ESG ratings: Sustainalytics (17.0, Low Risk), MSCI (AAA), ISS ESG (C+), and CDP (A-).

• Committed to net zero emissions by 2050, with interim 2030 decarbonization targets across key sectors.

• Mobilized NOK 1,500 billion for sustainable transition by 2030, with NOK 233 billion in sustainability-profiled funds by 2025.

• Green bond framework is ~60% aligned with EU Taxonomy, with NOK 203 billion in eligible green assets and 84% allocation.

• Annual avoided CO2 emissions from green portfolio exceed 1.45 million tons.