DNB

Postadresse:

Postboks 1600 Sentrum N-0021 Oslo

Besøksadresse:

Dronning Eufemias gate 30 Bjørvika, Oslo

DNBdnb.no Group

Factbook

First quarter 2024

Unaudited

1

- 2 -

Contact information

Group Management

Kjerstin R. Braathen, CEO

Ida Lerner, CFO

For further information, please contact

Rune Helland, Head of Investor Relations

rune.helland@dnb.no

+47 23 26 84 00

Anne Engebretsen, Investor Relations

anne.engebretsen@dnb.no

+47 23 26 84 08

Andreas Skårsmoen Øyo, Investor Relations

andreas.skarsmoen.oyo@dnb.no

+47 97 58 07 47

Thor Tellefsen, Long Term Funding

thor.tellefsen@dnb.no

+47 23 26 84 04

Mathias Bruvik, Head of Group Financial Reporting

mathias.bruvik@dnb.no

+47 91 75 87 74

Address

DNB, P.O.Box 1600 Sentrum, N-0021 Oslo

Visiting address: Dronning Eufemias gate 30, Bjørvika, 0191 Oslo

Telephone number

+47 91 50 48 00

Information on the Internet

DNB's Investor Relations page: ir.dnb.no

Financial calendar

2024

29

April

Annual General Meeting

30

April

Ex-dividend date

8 May

Distribution of dividends

11

July

Q2 2024

22

October

Q3 2024

2025

5 February

Q4 2024

19

March

Annual report 2024

29

April

Annual General Meeting

30

April

Ex-dividend date

9 May

Distribution of dividends

7 May

Q1 2025

11

July

Q2 2025

22

October

Q3 2025

Statements regarding DNB's relative market positions are, unless otherwise specified, based on internal DNB analyses.

- 3 -

FACTBOOK DNB - 1Q24

CONTENTS

Contents chapter 1 - DNB Group

Financial results and key figures

  1. Income statement - condensed
  2. Income statement - quarterly figures
  3. Income statement - full-year figures
  4. Comprehensive income statement
  5. Balance sheet - quarterly figures
  6. Balance sheet - full-year figures
  7. Key figures - quarterly figures
  8. Key figures - full-year figures
  9. Key figures - definitions

Net interest income

  1. Net interest income - split by segments
  2. Average volumes - split by segments
  3. Interest rate spreads - split by segments
  4. Quarterly development in average interest rate spreads
  5. Net interest income
  6. Changes in net interest income

Net other operating income

  1. Net other operating income
  2. Net gains on financial instruments at fair value
  3. Profit from investments accounted for by the equity method - Fremtind

Operating expenses

  1. Operating expenses
  2. Full-timepositions based on the operational structure
  3. IT expenses

Loans and financial commitments

  1. Loans and financial commitments to customers by industry segment
  2. Development in maximum exposure of loans and financial commitments to customers
  3. Development in accumulated impairment of loans and financial commitments to customers
  4. Stage 3 - development in net loans at amortised cost and financial commitments to customers
  5. Impairment of financial instruments

Exposure at default (EAD) and risk classification

  1. Credit portfolio
  2. Customer segments
  3. Breakdown of commercial real estate
  4. Breakdown of shipping
  5. Breakdown of oil, gas and offshore
  6. Breakdown of power and renewables
  7. DNB's risk classification

Liquidity, funding and shareholder structure

  1. Funding
  2. Redemption profile
  3. Minimum requirement for own funds and eligible liabilities (MREL)
  4. Asset encumbrance
  5. Liquid assets
  6. Liquidity Coverage Ratio (LCR)
  7. Net Stable Funding Ratio (NSFR)
  8. Credit ratings
  9. Major shareholders
  10. Ownership according to nationality
  11. Share buy-back programmes

Capital adequacy

  1. Own funds - condensed
  2. Leverage ratio
  3. Specification of exposure at default, risk exposure amount and average risk weights
  4. Own funds - DNB Bank ASA and DNB Group
  5. Cross-sectoralfinancial group

- 4 -

FACTBOOK DNB - 1Q24

CONTENTS

Contents chapter 2 - Segmental reporting

Financial performance

  1. Extracts from income statement
  2. Main balance sheet items and key figures
  3. Key figures - Norwegian and international units

Market shares

  1. DNB's market shares in Norway - retail market and corporate market
  2. Development in market shares, loans and deposits
  3. DNB Livsforsikring - market shares
  4. DNB Asset Management - market shares retail market

Personal customers (PC)

  1. Financial performance
  2. Key performance metrics - main customer divisions
  3. Risk classification of portfolio
  4. EAD by industry segment
  5. Distribution of loan to value
  6. DNB Boligkreditt - Average mortgage lending - volumes and spreads
  7. DNB Eiendom - Residential real estate broking in Norway

Corporate customers (CC)

  1. Financial performance
  2. Key performance metrics - Small and medium-sized enterprises
  3. Risk classification of portfolio
  4. EAD by industry segment

Other operations

2.5.1 Financial performance

Main subsidiaries and product units

Total DNB Markets activity:

  1. Financial performance
  2. Break down of revenues
  3. Value-at-Risk

DNB Livsforsikring Group:

  1. Legal entity consolidated accounts and solvency capital
  2. Financial performance
  3. Non-guaranteedproducts income
  4. Guaranteed products income

DNB Asset Management:

2.6.8 Financial performance

Contents chapter 3 - The Norwegian economy

  1. Basic information about Norway
  2. Government net financial liabilities
  3. GDP growth mainland Norway and unemployment rate
  4. Contribution to volume growth in GDP, mainland Norway
  5. Composition of GDP
  6. Composition of exports
  7. Key macro-economic indicators, Norway
  8. Credit market, 12 month percentage growth
  9. Deposit market, 12 month percentage growth
  10. House prices
  11. Household interest burden and debt burden

- 5 -

FACTBOOK DNB - 1Q24

CHAPTER 1 - DNB GROUP

Chapter 1 - DNB Group

Financial results and key figures

Net interest income

Net other operating income

Operating expenses

Loans and financial commitments

Exposure at default and risk classification

Liquidity, funding and shareholder structure

Capital adequacy

- 6 -

FACTBOOK DNB - 1Q24CHAPTER 1 - DNB GROUP

1.1.1 Income statement - condensed1

Amounts in NOK million

1Q24

4Q23

3Q23

2Q23

1Q23

4Q22

3Q22

2Q22

1Q22

Net interest income

15 526

15 997

15 718

15 232

14 600

14 071

12 253

11 525

10 445

Net commissions and fees

2 702

2 927

2 735

2 819

2 634

2 709

2 475

2 557

2 587

Net gains on financial instruments at fair value2

1 183

(162)

1 703

1 277

2 464

256

706

1 624

1 562

Net insurance result

203

326

364

338

154

504

261

277

192

Other operating income

783

900

449

536

684

1 018

425

404

282

Net other operating income3

4 872

3 991

5 252

4 971

5 936

4 487

3 867

4 863

4 623

Total income

20 398

19 988

20 970

20 203

20 536

18 558

16 120

16 388

15 068

Operating expenses

(7 306)

(7 639)

(6 850)

(7 044)

(6 863)

(7 340)

(6 257)

(6 235)

(5 795)

Restructuring costs and non-recurring effects

22

(64)

(8)

(40)

(113)

(26)

(15)

(135)

0

Pre-tax operating profit before impairment

13 113

12 286

14 112

13 120

13 560

11 192

9 848

10 018

9 273

Net gains on fixed and intangible assets

(2)

0

(4)

15

0

(25)

1

0

1

Impairment of loans and guarantees

(323)

(920)

(937)

(871)

79

(674)

148

209

589

Pre-tax operating profit

12 789

11 366

13 172

12 263

13 639

10 493

9 996

10 227

9 863

Tax expense

(2 558)

(1 824)

(3 029)

(2 821)

(3 137)

(519)

(2 289)

(2 351)

(2 252)

Profit from operations held for sale, after taxes

(29)

(138)

(0)

19

(30)

127

26

81

36

Profit for the period

10 203

9 403

10 142

9 462

10 472

10 101

7 733

7 957

7 647

Portion attributable to shareholders

9 789

9 019

9 805

9 149

10 192

9 858

7 555

7 783

7 391

  1. See table 1.1.2 "Income statement" for more details.
  2. See table 1.3.2 "Net gains on financial instruments at fair value" for specification.
  3. See table 1.3.1 "Net other operating income" for specification.

- 7 -

FACTBOOK DNB - 1Q24CHAPTER 1 - DNB GROUP

1.1.2 Income statement - quarterly figures

Amounts in NOK million

1Q24

4Q23

3Q23

2Q23

1Q23

4Q22

3Q22

2Q22

1Q22

Interest income, effective interest method

46 268

43 595

40 897

36 641

32 418

27 417

19 893

15 311

12 620

Other interest income

2 073

1 236

2 296

1 826

1 737

1 811

1 436

817

687

Interest expenses, effective interest method

(33 163)

(29 441)

(28 179)

(24 231)

(19 906)

(14 992)

(8 389)

(3 807)

(1 892)

Other interest expenses

348

607

704

996

350

(166)

(687)

(796)

(969)

Net interest income

15 526

15 997

15 718

15 232

14 600

14 071

12 253

11 525

10 445

Commission and fee income etc.

3 636

3 856

3 610

3 765

3 541

3 678

3 522

3 548

3 435

Commission and fee expenses etc.

(934)

(929)

(875)

(946)

(907)

(970)

(1 047)

(990)

(848)

Net gains on financial instruments at fair value1

1 183

(162)

1 703

1 277

2 464

256

706

1 624

1 562

Net insu

rance result

203

326

364

338

154

504

261

277

192

Profit from investments accounted for by the equity method2

188

274

(65)

76

164

460

60

165

60

Net gains on investment properties

3

45

0

(1)

(1)

(9)

4

2

(4)

Other income

592

581

514

461

521

567

361

237

226

Net other operating income

4 872

3 991

5 252

4 971

5 936

4 487

3 867

4 863

4 623

Total income

20 398

19 988

20 970

20 203

20 536

18 558

16 120

16 388

15 068

Salaries and other personnel expenses

(4 261)

(4 428)

(3 940)

(4 011)

(3 941)

(4 226)

(3 578)

(3 585)

(3 302)

Other expenses

(2 148)

(2 298)

(2 018)

(2 136)

(2 055)

(2 243)

(1 812)

(1 930)

(1 662)

Depreciation and impairment of fixed and intangible assets

(875)

(977)

(900)

(937)

(979)

(897)

(882)

(856)

(831)

Total operating expenses

(7 284)

(7 703)

(6 858)

(7 083)

(6 976)

(7 366)

(6 272)

(6 370)

(5 795)

Pre-tax operating profit before impairment

13 113

12 286

14 112

13 120

13 560

11 192

9 848

10 018

9 273

Net gains on fixed and intangible assets

(2)

0

(4)

15

0

(25)

1

0

1

Impairment of financial instruments

(323)

(920)

(937)

(871)

79

(674)

148

209

589

Pre-tax operating profit

12 789

11 366

13 172

12 263

13 639

10 493

9 996

10 227

9 863

Tax expense

(2 558)

(1 824)

(3 029)

(2 821)

(3 137)

(519)

(2 289)

(2 351)

(2 252)

Profit from operations held for sale, after taxes

(29)

(138)

(0)

19

(30)

127

26

81

36

Profit for the period

10 203

9 403

10 142

9 462

10 472

10 101

7 733

7 957

7 647

Portion attributable to shareholders

9 789

9 019

9 805

9 149

10 192

9 858

7 555

7 783

7 391

Portion attributable to non-controlling interests

(1)

(15)

6

11

0

9

6

36

31

Portion attributable to additional Tier 1 capital holders

414

400

331

302

280

234

172

138

225

Profit for the period

10 203

9 403

10 142

9 462

10 472

10 101

7 733

7 957

7 647

Earnings/diluted earnings per share (NOK)

6.48

5.93

6.39

5.93

6.59

6.36

4.87

5.02

4.77

Earnings per share excluding operations held for sale (NOK)

6.50

6.02

6.39

5.91

6.61

6.28

4.86

4.97

4.74

Average exchange rates in the period:

EUR/NOK

11.42

11.64

11.41

11.64

10.97

10.40

10.07

10.02

9.93

USD/NOK

10.52

10.83

10.48

10.69

10.23

10.20

10.00

9.41

8.85

  1. See table 1.3.2 "Net gains on financial instruments at fair value" for specification.
  2. See table 1.3.3 for details on Fremtind.

- 8 -

FACTBOOK DNB - 1Q24CHAPTER 1 - DNB GROUP

1.1.3 Income statement - full-year figures

Amounts in NOK million

2023

2022

2021

2020

2019

Interest income, effective interest method

153 550

75 241

43 997

50 660

60 225

Other interest income

7 095

4 751

2 890

4 636

5 123

Interest expenses, effective interest method

(101 757)

(29 080)

(4 693)

(11 511)

(23 661)

Other interest expenses

2 658

(2 619)

(3 504)

(5 161)

(2 486)

Net interest income

61 547

48 294

38 690

38 623

39 202

Commission and fee income etc.

14 772

14 184

14 992

13 289

13 484

Commission and fee expenses etc.

(3 658)

(3 856)

(3 981)

(3 789)

(3 768)

Net gains on financial instruments at fair value1

5 283

4 147

3 621

5 902

3 183

Net financial result, life insurance (prior to IFRS 17)

581

418

696

Net risk result, life insurance (prior to IFRS 17)

210

241

433

Net insurance result

1 183

1 235

0

0

Profit from investments accounted for by the equity method2

449

746

524

402

410

Net gains on investment properties

43

(7)

91

(61)

92

Other income

2 077

1 390

1 188

1 373

1 126

Net other operating income

20 150

17 840

17 225

17 776

15 655

Total income

81 697

66 133

55 915

56 399

54 857

Salaries and other personnel expenses

(16 320)

(14 690)

(13 826)

(12 873)

(12 603)

Other expenses

(8 506)

(7 648)

(6 845)

(7 208)

(7 472)

Depreciation and impairment of fixed and intangible assets

(3 794)

(3 465)

(3 363)

(3 320)

(3 058)

Total operating expenses

(28 620)

(25 803)

(24 034)

(23 401)

(23 133)

Pre-tax operating profit before impairment

53 077

40 331

31 881

32 998

31 724

Net gains on fixed and intangible assets

11

(24)

(82)

767

1 703

Impairment of financial instruments

(2 649)

272

868

(9 918)

(2 191)

Pre-tax operating profit

50 440

40 579

32 667

23 847

31 235

Tax expense

(10 811)

(7 411)

(7 462)

(4 229)

(5 465)

Profit from operations held for sale, after taxes

(149)

270

150

221

(49)

Profit for the period

39 479

33 438

25 355

19 840

25 721

Portion attributable to shareholders

38 166

32 587

24 407

18 712

24 603

Portion attributable to non-controlling interests

2

82

26

(15)

(5)

Portion attributable to additional Tier 1 capital holders

1 312

769

922

1 143

1 123

Profit for the period

39 479

33 438

25 355

19 840

25 721

Earnings/diluted earnings per share (NOK)

24.83

21.02

15.74

12.04

15.54

Earnings per share excluding operations held for sale (NOK)

24.93

20.85

15.65

11.89

15.57

Average exchange rates in the period:

EUR/NOK

11.41

10.10

10.17

10.73

9.85

USD/NOK

10.56

9.61

8.59

9.42

8.80

  1. See table 1.3.2 "Net gains on financial instruments at fair value" for specification.
  2. See table 1.3.3 for details on Fremtind.

- 9 -

FACTBOOK DNB - 1Q24CHAPTER 1 - DNB GROUP

1.1.4 Comprehensive income statement

Amounts in NOK million

1Q24

4Q23

3Q23

2Q23

1Q23

4Q22

3Q22

2Q22

1Q22

Profit for the period

10 203

9 403

10 142

9 462

10 472

10 101

7 733

7 957

7 647

Actuarial gains and losses

(331)

40

(237)

118

118

414

Property revaluation

3

(1)

(1)

10

(31)

26

Financial liabilities designated at fair value through

profit or loss, changes in credit risk

(30)

(52)

(108)

21

37

(74)

58

67

89

Tax

8

96

17

(5)

(9)

78

(44)

(40)

(126)

Items that will not be reclassified to the income statement

(23)

(284)

(51)

15

28

(223)

102

172

377

Currency translation of foreign operations

3 991

(1 030)

(2 094)

1 956

6 118

(3 674)

3 289

5 707

(2 047)

Currency translation reserve reclassified to the income

statement

(5 213)

Hedging of net investments

(3 188)

1 075

1 664

(1 529)

(5 056)

3 182

(2 832)

(4 890)

1 662

Hedging reserve reclassified to the income statement

5 137

Financial assets at fair value through OCI

449

(139)

102

(124)

14

248

(258)

(321)

(373)

Tax

685

(234)

(442)

416

1 257

(854)

774

1 303

(324)

Tax reclassified to the income statement

(1 284)

Items that may subsequently be reclassified to the

income statement

1 937

(328)

(770)

719

2 334

(2 457)

972

1 799

(1 082)

Other comprehensive income for the period

1 914

(611)

(821)

734

2 361

(2 680)

1 074

1 972

(705)

Comprehensive income for the period

12 117

8 792

9 321

10 196

12 834

7 421

8 807

9 929

6 942

Full-year figures

Amounts in NOK million

2023

2022

2021

2020

2019

Profit for the period

39 479

33 438

25 355

19 840

25 721

Actuarial gains and losses

(291)

414

(183)

(324)

(3)

Property revaluation

2

5

212

578

278

Items allocated to customers, life insurance (prior to IFRS 17)

(193)

(578)

(278)

Financial liabilities designated at fair value through profit or loss, changes in credit risk

(102)

140

29

33

232

Tax

99

(131)

41

72

(63)

Items that will not be reclassified to the income statement

(292)

428

(93)

(218)

165

Currency translation of foreign operations

4 950

3 275

(1 018)

3 519

462

Currency translation reserve reclassified to the income statement

(5 213)

0

Hedging of net investments

(3 845)

(2 878)

680

(3 246)

(459)

Hedging reserve reclassified to the income statement

5 137

Financial assets at fair value through OCI

(147)

(704)

(101)

103

59

Tax

998

900

(148)

786

(208)

Tax reclassified to the income statement

(1 284)

Items that may subsequently be reclassified to the income statement

1 955

(767)

(587)

1 161

(147)

Other comprehensive income for the period

1 663

(340)

(681)

943

19

Comprehensive income for the period

41 142

33 098

24 674

20 783

25 740

- 10 -

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DnB Bank ASA published this content on 23 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 April 2024 05:33:08 UTC.