Please see attached select financial figures for Carnegie for Q4 2024 and FY 2024. Since the acquisition of Carnegie was completed on March 6th, Carnegie’s financial figures will be consolidated into DNB’s per Q1 2025 reporting.
For further information, please contact Rune Helland, Head of Investor Relations, tel.: (+47) 23 26 84 00 / (+47) 97 71 32 50.
The DNB Group's Annual Report, including Sustainability report and Pillar 3 report for 2024, are published today on DNB's website ir.dnb.no.
For further information:
Investor contacts:
Rune Helland, Head of Investor Relations, tel. (+47) 23 26 84 00 / (+47) 977 13 250
Thor Tellefsen, Head of Long-Term Funding, tel. (+47) 915 44 385
Media contact:
Liselotte Lunde, Executive Vice President of Communications, tel: (+47) 959 49 235
This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.
DNB Bank ASA (“DNB”) refers to the stock exchange notice published 21 October 2024, where it was announced that DNB has entered into an agreement to purchase all the shares in Carnegie Holding AB – the parent company in the Carnegie Group (“Carnegie”) – from the private equity fund Altor and other shareholders.
Completion of the transaction requires approvals from authorities in several jurisdictions. It has now been clarified that the transaction will be completed, since all the necessary approvals have been obtained. Completion is expected to occur 6 March 2025.
DNB shall pay a total consideration of SEK 12 billion. In addition, the purchase price will be adjusted for Carnegie’s capital surplus at the time of the transaction, calculated on the basis of Carnegie’s normalized common equity tier 1 ratio at the time of the completion of the transaction. Furthermore, the shares of the minority shareholders in the subsidiaries of Carnegie Holding AB will be acquired as part of the transaction, for a total consideration of approximately SEK 300 million.
For the time being, DNB and Carnegie will continue to operate as is. Following completion of the acquisition, there will be a gradual legal and operational integration of the business, including the implementation of the new brand, DNB Carnegie.
For further information, please contact Rune Helland, Head of Investor Relations, tel.: (+47) 23 26 84 00 / (+47) 97 71 32 50.
Today, 6 February 2025, a total of 11,259 shares in DNB Bank ASA were acquired on behalf of certain of DNB’s primary insiders, who are part of the Group Management team. The share purchase was executed collectively at an average price per share of NOK 247.1206.
The shares were purchased in accordance with the share programme that was approved by the Annual General Meeting on 30 June 2020. Shares that are acquired through the programme have a holding period which lasts for as long as the person holding the shares is part of the Group Management team. Upon leaving the Group Management team, the shares are released in stages over a period of three years.
A list of the primary insiders of DNB Bank ASA who have increased their shareholding is attached.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
The Board of Directors of DNB Bank ASA plans to propose to distribute a cash dividend of NOK 16.75 per share for the accounting year of 2024. The formal decision regarding the dividend will be made on the company's Annual General Meeting, which will be held on 29 April 2025.
Dividend amount: 16.75 per share
Declared currency: Norwegian krone (NOK)
Last day including right: 29 April 2025
Ex-date: 30 April 2025
Record date (shareholder registration date): 2 May 2025
Payment date: from 9 May 2025
Date of approval: 29 April 2025
For further information:
Rune Helland, Head of Investor Relations, tel. +47 23 26 84 00 / +47 97 71 32 50.
This information is published in accordance with the requirements in Oslo Børs' issuer rules.
DNB’s profit in the fourth quarter of 2024 was NOK 12 675 million after tax. This is NOK 3 271 million, or 34.8 per cent, higher than in the corresponding quarter of 2023.
“The Norwegian economy is doing well, and this is reflected in DNB's results. We saw a clear change of pace in the summer, and activity has picked up throughout the autumn. We have entered 2025 with increasing activity in the housing market and a rising number of customers seeking financing," says CEO of DNB Kjerstin Braathen.
More customers are choosing DNB
DNB experienced lending growth of 2.5 per cent during the quarter, with positive developments across all customer groups.
“Solid growth across the board is the result of our efforts to help many companies both in and outside Norway with their projects. Sound advisory services help create value for customers as well as for DNB. We see this, among other things, in our income from areas other than lending, where the fourth quarter result shows that many customers are seeking our expertise," says Braathen.
The personal customers segment saw a particularly strong development in the second half of the year.
“We are experiencing greater interest from customers, and we find that many people choose us because they see us as a good adviser for customers in important phases of their lives. Many people are contacting us because of the changes to the Norwegian Lending Regulations that were introduced at the end of 2024, and we have also gone far in meeting the needs of young people by doubling the amount in the UNG-milliarden (young billion) campaign," says Braathen.
Interest in saving remains high
The level of saving among Norwegians has been high in recent years, and the net subscription to mutual funds in DNB reached at an all-time high in December. Customers increased their mutual fund savings in 51 of the 52 weeks of the year.
“Our customers are managing their finances well. We have very few defaults, a low and falling proportion of mortgage customers with interest-only periods, and we see that many of our customers are able to put money aside for saving. The number of savings schemes has continued to grow during the year," says Braathen.
Income from other customer activities than lending and deposits (commission and fee income) ended at NOK 3 287 million this quarter – driven by good income growth in DNB Markets and in asset management and pensions. Income was 12.3 per cent higher than in the corresponding quarter of last year, and the result was the best ever in the fourth quarter.
DNB Markets expects increased growth in the Norwegian economy
According to DNB Markets' latest forecasts, the level of activity in the Norwegian economy is expected to increase further in the years ahead, and DNB has a solid foundation for continued profitable growth. At the same time, the geopolitical situation is unpredictable.
“Norway is a small, open economy that relies on good access to our most important export markets. At the same time, it’s important to underline that the Norwegian economy has performed very well in the face of high interest rates and uncertainty in the global economy – and that at the start of 2025 we have a robust foundation, with good activity in most industries," says Braathen.
Half of the dividends are channelled back to the community
Due to the strong results, DNB's Board of Directors will propose to the Annual General Meeting that a dividend of NOK 16.75 per share is paid for 2024, in line with the Group's ambition to increase the nominal dividend per share.
“Around half of DNB’s dividends will be channelled right back to Norwegian society through the government’s ownership, Folketrygdfondet (manager of the Government Pension Fund Norway) and the DNB Savings Bank Foundation. With the proposed dividend, for these three players alone, about NOK 12.2 billion will be channelled back to the community,” says Braathen.
Financial key figures for the fourth quarter of 2024 (figures for the corresponding quarter in 2023):
Pre-tax operating profit before impairment amounted to NOK 13.5 billion (12.3)
Profit was NOK 12.7 billion (9.4)
Earnings per share were NOK 8.21 (5.93)
Return on equity was 19.0 per cent (14.6)
Cost/income ratio was 37.9 per cent (38.5)
Common equity Tier 1 (CET1) capital ratio was 19.4 per cent (18.2)
Financial key figures for the full year 2024 (corresponding figures for 2023):
Pre-tax operating profit before impairment amounted to NOK 56.1 billion (53.1)
Profit was NOK 45.8 billion (39.5)
Earnings per share were NOK 29.34 (24.83)
Return on equity was 17.5 per cent (15.9)
Cost/income ratio was 35.2 per cent (35.0)
For further information:
Rune Helland, Head of Investor Relations, tel.: (+47) 23 26 84 00 / (+47) 97 71 32 50
Kari Vartdal Riise, Executive Vice President of Communications (acting), tel. (+47) 97 51 67 07
This information is subject to the disclosure requirements pursuant to section 5-12 of the Securities Trading Act.
Financial calendar for DNB Bank ASA.
FINANCIAL YEAR 2025
07.05.2025 - Quarterly Report - Q1
11.07.2025 - Half-yearly Report
22.10.2025 - Quarterly Report - Q3
04.02.2026 - Quarterly Report - Q4
11.03.2026 - Annual Report
FINANCIAL YEAR 2026
21.04.2026 - Annual General Meeting
23.04.2026 - Quarterly Report - Q1
13.07.2026 - Half-yearly Report
21.10.2026 - Quarterly Report - Q3
For further information, please contact:
Rune Helland, Head of Investor Relations, tel. (+47) 23 26 84 00 / (+47) 977 13 250
This information is published pursuant to the requirements set out in the Continuing obligations.
DNB will publish its results for the fourth quarter of 2024 on Wednesday, 5 February 2025 at 7:30 CET.
9:30 CET: Presentation
CEO Kjerstin Braathen and CFO Ida Lerner present the results at a live streamed presentation. It will be possible to ask questions online and a broadcast will be available on the Investor Relations pages at ir.dnb.no. It will also be possible to physically attend the presentation at DNB's head office in Bjørvika, Dronning Eufemias gate 30. Please register your attendance in Oslo, at [email protected]. For media, please register at [email protected].
13:30 CET: Conference call for analysts and investors
Call in details: Norway +47 21 56 33 18, UK-Wide +44 (0) 33 0551 0200, US +1 786 697 3501. Password: DNB Q4. Please join the call early to allow the operator to transfer you into the call by the scheduled start time.
The conference call (listen-only mode) and a recording of this will be available on the Investor Relations pages at ir.dnb.no.
For further information, please contact:
Investor contact: Rune Helland, Head of Investor Relations, tel.: (+47) 23 26 84 00 / (+47) 97 71 32 50
Media contact: Kari Vartdal Riise, Executive Vice President (acting), People & Communication, tel.: (+47) 97 51 67 07
This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.
