Strong Economic Indicators in Norway
Norway's GDP growth is expected to be 1.8% this year, with low unemployment at around 2%, supporting loan growth and consumption. The Central Bank has decreased the policy rate to 4% with expectations of a further cut to 3.75%.
Solid Financial Performance
DNB delivered a solid third-quarter result with a return on equity of 15.8% and earnings per share of NOK 6.98, which is an uptick of 2.8% from the last quarter.
Successful Fee Platform Expansion
Net commission is up 28.9% from the corresponding quarter last year. Asset under management growth was NOK 54 billion, with a robust investment banking pipeline for Q4.
Robust Credit Portfolio
99.4% of the credit portfolio is in Stage 1 and 2, showing a well-diversified and solid credit portfolio. Core equity Tier 1 stands at 17.9%, 135 basis points above regulatory expectations.
Significant Large IPO Participation
DNB Carnegie was one of three lead banks in the Verisure IPO, the largest in Europe since 2022, which is expected to significantly contribute to Q4 earnings.