Stock and press releases

DNB recorded a solid profit after tax of NOK 10.7 billion in the third quarter of 2025. This is an increase of NOK 242 million, or 2.3 per cent, compared with the second quarter of this year.

“The Norwegian economy is performing better than expected, and Norwegian companies are continuing to invest while employment remains at a high level. Combined with falling inflation, this gives both companies and individuals increased confidence in their own finances going forward," says CEO Kjerstin Braathen.

“This positive trend is also reflected in the Nordic region. The level of activity in the Swedish capital market is a good example of this. This is also attractive from an international perspective, and DNB Carnegie is well positioned here," says Braathen. 

A leading Nordic asset manager

An increasing number of customers are choosing DNB for its holistic advisory services and professional wealth management. At the end of the quarter, assets under management (AUM) reached a record-high NOK 1 579 billion, which is an increase of NOK 15 billion from the previous quarter. Holberg Fondene was sold in May, and NOK 39 billion in AUM from Holberg was phased out during the quarter. The underlying growth in the quarter was thus NOK 54 billion – marking one of the strongest quarters ever in this area.

“The record growth in wealth management and the launch of several specialised mutual funds show that we are hitting the mark when it comes to meeting our customers' needs and preferences. The acquisition of Carnegie creates further opportunities, particularly in private banking, asset management and investment banking. With Carnegie Fonder on board, we are now Norway's largest asset manager and well positioned for further growth outside Norway as well," says Braathen.

The savings rate is the highest it has been in ten years, with the exception of the pandemic period. DNB's customers have never saved more in mutual funds through fixed savings schemes – over NOK 920 million per month, equivalent to more than NOK 10 billion per year.

 
Profitable lending growth in the customer segments

Lending to personal customers increased by 2.7 per cent compared with the third quarter of last year, and by 0.4 per cent compared with the previous quarter. Lending to the largest companies increased by 0.5 per cent in the third quarter, while lending to small and medium-sized businesses remained stable.

There has been a high level of activity throughout the quarter, particularly relating to refinancing and remortgaging. Interest from new customers has been especially high since Sbanken cut its interest rate a week before the most recent cut in the key policy rate by the Norwegian central bank, Norges Bank.

"We see that customers value the combination of simple, digital solutions and personal advisory services – and that they choose whatever suits them best. Following the interest rate adjustment, the level of activity at Sbanken has been historically high, with the largest inflow of new customers in 15 years," says Braathen.

Strong foundation for further growth in financial advisory services

Over time, DNB has shown solid growth in income from other customer-related activities than lending and deposits, and the acquisition of Carnegie has further strengthened the Group's position.

At the end of the third quarter, DNB Carnegie had facilitated 446 capital market transactions globally (equity capital markets (ECM) and corporate bonds), and was among the lead advisers in 14 major initial public offerings (IPOs), such as those for NOBA and Verisure. The Verisure IPO was the largest in the Swedish market in over 25 years, the second largest ever in Sweden and the largest in Europe since 2022. 

“A mere five months after the establishment of DNB Carnegie we see that our customers’ trust in us is increasing, and we are winning engagements that would previously have gone to international players," says Braathen.

Financial key figures for the third quarter of 2025 (figures for the corresponding quarter of 2024 in parentheses):

Pre-tax operating profit before impairment amounted to NOK 14.2 billion (15.4) 
Profit was NOK 10.7 billion (12.2) 
Earnings per share were NOK 6.98 (7.83) 
Return on equity was 15.8 per cent (18.9) 
Cost/income ratio was 37.4 per cent (32.5) 
Common equity Tier 1 (CET1) capital ratio was 17.9 per cent (19.0) 

For further information: 
Rune Helland, Head of Investor Relations, tel.: (+47) 23 26 84 00 / (+47) 97 71 32 50
Liselotte Lunde, Head of Communications, tel.: (+47) 95 94 92 35

This information is subject to the disclosure requirements pursuant to section 5-12 of the Securities Trading Act.

DNB Bank ASA has decided to initiate a new share buy-back programme comprising up to 1.0 percent of the company’s own shares, which represents a total of 14,776,048 shares. The buy-back programme was adopted based on an authorisation given by the Annual General Meeting held on 29 April 2025. The Financial Supervisory Authority of Norway has approved the buy-back programme, on the condition that the total buy-backs do not reduce the company’s own funds by more than NOK 4,433 million.

The purpose of the buy-back programme is to optimise the company’s capital structure, by reducing the common equity tier 1 (CET1) ratio by slightly less than 0.4 percentage points.

Up to 0.66 percent of the company’s own shares, which equals 9,752,192 shares, will be bought back on trading venues, at a price of between NOK 10 and NOK 330 per share. The buy-backs will, at the latest, end on 20 February 2026. DNB Carnegie will manage the buy-backs on behalf of the company, and will decide the timing of the purchases independently of the company. The shares that are purchased will be proposed cancelled at the next Annual General Meeting.  

The remaining 0.34 percent of the shares – up to 5,023,856 shares – will at the same Annual General Meeting be proposed redeemed from the Norwegian Government, represented by the Ministry of Trade, Industry and Fisheries (“NFD”), so that NFD’s ownership interest of 34 percent remains unchanged. NFD’s shares will be redeemed at a price equal to the average price of the shares bought back on trading venues, with the addition of an interest compensation.

The buy-back programme will be carried out in accordance with the Market Abuse Regulation and the regulation regarding buy-back programmes and stabilisation measures.

The company currently owns 9,752,192 own shares, which were repurchased earlier this year.

For further information, please contact Rune Helland, Head of Investor Relations, on +47 23 26 84 00 or +47 97 71 32 50. 

This announcement contains information that is subject to disclosure requirements pursuant to the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

Please note the updated call-in details for DNB’s third quarter conference call at 13:30 CET. The Norwegian number has been updated to: +47 800 19 458.

Call-in details:
Norway +47 800 19 458
UK Wide +44 (0) 33 0551 0200
US +1 78 6697 3501

Password: DNB Q3. 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:
Rune Helland, Head of Investor Relations, tel.: (+47) 23 26 84 00 / (+47) 97 71 32 50

This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.

DNB will publish its results for the third quarter of 2025 on Wednesday, 22 October 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 Q3. 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:
Liselotte Lunde, Executive Vice President of Communications, tel: (+47) 95 94 92 35

This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.

DNB will publish its results for the third quarter of 2025 on Wednesday, 22 October 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 Q3. 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:
Liselotte Lunde, Executive Vice President of Communications, tel: (+47) 95 94 92 35

This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.

In the third quarter of 2025, the DNB Group will recognise a positive mark-to-market effect of NOK 264 million from basis swaps connected to funding. Furthermore, a negative effect of NOK 136 million from the USD and SEK Additional Tier 1 capital will also be recognised. The effects will appear under Net gains on financial instruments at fair value in our financial statement.

For further information, please contact: 
Rune Helland, Head of Investor Relations, tel.: (+47) 23 26 84 00 / (+47) 97 71 32 50