Strong profitability and capital position
Return on equity of 14% for the quarter and 15.5% on a rolling 12-month basis; earnings per share NOK 6.5. Common Equity Tier 1 (CET1) ratio 18.1% with 170 basis points of headroom and leverage ratio 6.5%, supporting dividend policy and buyback application progress.
Record net inflows to Asset Management
Net inflows in Asset Management of NOK 20.4 billion in Q1 and NOK 65 billion over the last 12 months (record), driving AUM growth despite market value declines.
Strong fee and commissions momentum
Net commission and fees up 18% year-over-year. Notable contributions: Investment Banking Services +38%, Asset Management & custodial services +34%, sale of insurance products +19%, real estate broking +3%.
Deposit growth and funding resilience
Currency-adjusted deposits up 2.6%; customer deposit-to-loan ratio maintained at 73.8%. Treasury/ funding described as well planned and resilient to recent money market volatility.
Loan growth in targeted segments
FX-adjusted loan growth of +0.3% this quarter with Large Corporates lending up 2.3% for the quarter (9.1% year-to-date currency-adjusted). Yearly lending growth targets and ~3–4% sustainable growth reiterated (previous 12-month lending growth 3.5%).
Cost discipline and efficiency progress
Operating expenses down NOK 920 million versus Q4; cost/income ratio 38.7%. Management reports progress on NOK 3 billion gross cost-cutting target and continued focus on digitization and automation.
Digital product and customer wins
Launched new equity trading platform in Spare (March): 25% of share trades executed on new platform in March. Under-18 customer onboarding reduced to under 2 minutes. Sbanken generative AI chatbot handling >75% of chat responses with good customer satisfaction.
Market recognition and improved advisory platform
DNB ranked leading bank in Norway (Prospera) for customer satisfaction; DNB Carnegie #1 in equities in each Nordic country and overall. Integration of Carnegie progressing and contributing to revenue growth in Wealth Management and Investment Banking.