DNB recorded a profit of NOK 11.6 billion in the fourth quarter of 2025. This is an increase of NOK 928 million, or 8.7 per cent, compared with the third quarter of 2025. 

"Despite the fact that 2025 was a year characterised by geopolitical turmoil, the Norwegian economy remains strong, with a high level of activity and low unemployment. This is reflected in DNB's profits through substantial activity in all customer segments, and a 4.9 per cent increase in lending, compared with the year before," says CEO Kjerstin Braathen.

Corporate customers Norway showed a particularly strong development in the last quarter of 2025, with lending growth of 5.2 per cent, while lending growth for large corporates and international customers ended at 2.7 per cent. 

More customers chose DNB in 2025

For the personal customer market as a whole, there was a 13 per cent increase across DNB and Sbanken in the number of active pre-qualification letters throughout 2025, with particularly strong growth in Sbanken. DNB's lending growth in the personal customer market was 2.2 per cent, and deposit growth ended at 7.7 per cent in 2025.

"We have a robust and broad range of products and services that serve all customer groups well, through DNB's breadth and the fully digital Sbanken. We see that customer satisfaction is increasing in both brands, and it's particularly good to see that customer satisfaction in Sbanken is now at its highest level since the integration," says Braathen.

Strong growth in commission and fee income, driven by DNB Carnegie

Over time, DNB has shown solid growth in income from other customer activities than loans and deposits. In 2025, this income increased by a full 31.5 per cent.

DNB Carnegie represents a large proportion of this income, with strong development across products and markets since completion of the merger in May 2025. The investment bank operations are among the areas in which the overall strength of DNB Carnegie has yielded good results, and the commission-based income from this area has doubled, compared with the same period the year before.

Among other things, DNB Carnegie has been a key player in the very high activity in the Swedish capital market.

"The Nordic region is becoming increasingly attractive to investors, and our position as the leading investment bank in the Nordics gives us a sound position for continuing to support our customers. DNB Carnegie is entering the new year with twice as many IPO (Initial Public Offering) assignments as this time last year," says Braathen.

In 2025, the Stockholm stock exchange accounted for almost half of the value of all IPOs in Europe, and last year, DNB Carnegie was the largest facilitator in Europe, measured in both number and volume. Among other things, DNB Carnegie helped facilitate the listing of Verisure, which was the largest IPO in Sweden in over 25 years, and the largest in Europe since 2022.

Norwegians save 4 out of 10 NOK in DNB's mutual funds

The savings trend in the Norwegian market remains strong, and at present, 4 out of 10 NOK in mutual funds saved by Norwegians are placed in funds managed by DNB. DNB Asset Management now manages more capital than customers have in deposits in the bank. 

"Norwegians have never ever saved more. During the past year, DNB has launched several specialised mutual funds, and we see that the customers have welcomed these warmly," says Braathen. Fixed savings schemes are approaching NOK 1 billion per month in mutual fund savings.

Assets under management (AUM) increased by NOK 88 billion from the third quarter of 2025, and net inflow in the quarter was NOK 20.2 billion.

Half of the dividends are channelled back to the community 

For 2025 as a whole, the DNB Group has a pre-tax operating profit of NOK 53.4 billion, and the Group has made provisions for losses on loans totalling NOK 2.8 billion. DNB remains one of the most well capitalised banks in Europe, with a common equity Tier 1 (CET1) capital ratio of 17.9 per cent.

The Board of Directors of DNB will propose to the ordinary Annual General Meeting that a divided of NOK 18.00 per share is paid for 2025, 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 13.1 billion will be channelled back to the community," says Braathen.

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

Pre-tax operating profit before impairment amounted to NOK 14.2 billion (13.5)

Profit was NOK 11.6 billion (12.7) 

Earnings per share were NOK 7.65 (8.21) 

Return on equity was 16.6 per cent (15.9)
 
Cost/income ratio was 39.7 per cent (37.9) 

Common equity Tier 1 (CET1) capital ratio was 17.9 per cent (19.4) 

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.