Stock and press releases

DNB's stock and press releases

2018

Save the date - DNB's fourth quarter results for 2018 will be presented in London, Thursday 7 February 2019

Save the date - DNB's fourth quarter results for 2018 will be presented in London, Thursday 7 February 2019

DNB will hold the fourth quarter results presentation in London, Thursday 7 November 2019 at 10.30 (London time). The presentation will last until 12.00 as management, in addition to presenting the fourth quarter results, will provide status on some of the items addressed at the 2017 Capital Markets Day. Please note that there will not be held any presentation in Oslo related to the fourth quarter.

Place: DNB’s office in London. A live broadcast will be available on the Investor Relations pages at ir.dnb.no.

A more detailed agenda, further details regarding registration of attendance and infomation about the live broadcast will follow in due course.

EBA stress test shows a robust capital position

EBA stress test shows a robust capital position

The DNB Bank Group has participated in the EBA (European Banking Authority) stress test, based on numbers as at year-end 2017, and with a stress period from 2018 to 2020. The common equity Tier 1 (CET1) capital ratio for the DNB Bank Group has a moderate fall from 16.2 per cent by the end of 2017 to 15.0 per cent by the end of 2020.

In the stress scenario, the common equity Tier 1 (CET1) capital ratio for the DNB Bank Group drops to 13.5 per cent at the end of 2018. Loan losses are, according to the new IFRS 9 principles, particularly concentrated in 2018, which combined with losses related to market risk and reduced net interest income, causes a negative profit after tax of EUR 928 million (NOK 9 136 million). The increase in risk-weighted assets also contributes to the decline in the capital adequacy. Positive results in 2019 and 2020, which among other things can be ascribed to the decline in loan losses, cause the capital adequacy to rise to 15.0 per cent by the end of 2020. DNB is satisfied with the results of the stress test, which show that the bank has a robust earning capacity and capital position.

Links: EBA stress test results

DNB delivers solid results with no net loss

DNB delivers solid results with no net loss

DNB’s profits in the third quarter of 2018 were NOK 5 673 million, an increase of NOK 26 million from the same quarter the year before. Low losses and strict cost control contributed positively to the result.

“We are seeing many of the same trends as Norges Bank; a strong momentum in the Norwegian economy, a higher oil price, increasing investments and wage growth and unemployment numbers pointing in the right direction. A healthy development in the economy means lower losses in the banks. At the same time, the prospect of higher interest rates has had a favourable and calming effect on housing prices," says group chief executive of DNB Rune Bjerke.

Profit growth in the personal customer market
Net interest income in the third quarter amounted to NOK 9 152 million, up NOK 146 million from the corresponding quarter last year. However, other income declined by NOK 579 million, from NOK 3 922 to NOK 3 343 million, mainly due to classification changes related to the new IFRS 9 accounting rules, as well as a significantly lower level of activity in the capital markets in the quarter. DNB’s profit for the third quarter is NOK 411 million lower than the second quarter of this year.

After three quarters, DNB’s return on equity for 2018 is 11.2 per cent, compared with 10.2 per cent in the same period last year. Earnings per share so far this year is NOK 10.42, compared with NOK 9.06 after the first three quarters of 2017.

Due to significant reversals of previous loan loss provisions in the oil and gas sector amounting to NOK 500 million, the losses for the third quarter ended at a modest NOK 11 million.

Higher speed and increased pace of innovation
DNB has in the quarter launched a number of new services, initiatives and cooperation agreements with interesting players in the market:

  • The new, automated accounting solution DNB Regnskap is in a pilot phase, allowing the first corporate customers to test integrated banking and accounting services (cooperation with entrepreneurial company Luca Labs).
  • DNB has hired a robot called Aino to provide customer service via chat 24 hours a day.
  • Google Assistant was launched in Norway in August, with DNB as one of the first companies in Norway to develop their own customer services on the platform.
  • One of Europe's leading fintech groups, 11:FS in London, has chosen to partner with DNB on its new initiative within cloud-based banking systems. DNB is both a co-owner and the first customer of the new company "Foundry".
  • DNB NXT was held in 19 towns and cities across the country during the third quarter, resulting in more than 1 000 meetings between entrepreneurs and investors.
  • The savings app Spare, which was launched in 2017, now has 185 000 users and has become one of Norway's most effective sales platforms for mutual funds and shares. Our customers traded funds in the app worth more than NOK 340 million in the quarter, tripling the number from the previous year.

“One year after we set up a new organisation and set new priorities, we are beginning to see proof that we are developing faster and creating good, digital customer experiences. We summed up the work so far with all employees in the last week, and gathered over 630 examples of projects or initiatives as proof that the new strategy is put into practice.

A few years ago, many people predicted that banks would become superfluous. It has been a while since I have heard that," says CEO Rune Bjerke. “On the contrary, we are seeing that new challengers and established players can complement each other and create good solutions together.”

Financial key figures for the third quarter of 2018

  •  Pre-tax operating profit before impairment amounted to NOK 7.2 billion (7.4)
  •  Profit for the period was NOK 5.7 billion (5.6)
  •  Earnings per share were NOK 3.41 (3.34)
  •  Return on equity was NOK 10.9 per cent (11.2)
  •  Cost/income ratio was 42.7 per cent (42.7)
  •  CET1 capital ratio (transitional rules) was 16.5 per cent (16.3)

Comparable figures for the third quarter of 2017 in parentheses. 

Reminder: Invitation - DNB's third quarter results for 2018 will be presented on Thursday 25 October

Reminder: Invitation - DNB's third quarter results for 2018 will be presented on Thursday 25 October

DNB will publish its results for the third quarter of 2018 on Thursday, 25 October 2018 at 7.30 am (Oslo time).

25 October at 9.30 am (Oslo time): press conference in English accessible via live web TV
Place: DNB’s head office in Bjørvika, Dronning Eufemias gate 30, Oslo. A live broadcast will be available on the Investor Relations pages at ir.dnb.no.
Please register your attendance in Oslo at [email protected].

The press conference will be held in English.

25 October at 1.30 pm (Oslo time): conference call for analysts and investors
To attend the conference call: +47 2156 3318 or international line: +44 (0) 20 3003 2666
Password: DNB Q3

The phonecast (listen only mode) and replay will be available on the Investor Relations pages at ir.dnb.no

26 October at 07:45 am (London time): breakfast conference for analysts in London
Place: DNB Bank ASA, 8th Floor, The Walbrook Builiding, 25 Walbrook, London EC4N 8AF
Please register your attendance in London at [email protected]

Management will present the results followed by a Q&A session.

Invitation - DNB's third quarter results for 2018 will be presented on Thursday 25 October

Invitation - DNB's third quarter results for 2018 will be presented on Thursday 25 October

DNB will publish its results for the third quarter of 2018 on Thursday, 25 October 2018 at 7.30 am (Oslo time).

25 October at 9.30 am (Oslo time): press conference in English accessible via live web TV
Place: DNB’s head office in Bjørvika, Dronning Eufemias gate 30, Oslo. A live broadcast will be available on the Investor Relations pages at ir.dnb.no.
Please register your attendance in Oslo at [email protected].

The press conference will be held in English.

25 October at 1.30 pm (Oslo time): conference call for analysts and investors
To attend the conference call: +47 2156 3318 or international line: +44 (0) 20 3003 2666
Password: DNB Q3

The phonecast (listen only mode) and replay will be available on the Investor Relations pages at ir.dnb.no

26 October at 07:45 am (London time): breakfast conference for analysts in London
Place: DNB Bank ASA, 8th Floor, The Walbrook Builiding, 25 Walbrook, London EC4N 8AF
Please register your attendance in London at [email protected]

Management will present the results followed by a Q&A session.