Solid results driven by lending growth and high customer activity

DNB recorded profits after tax of NOK 9.8 billion in the second quarter of 2026. "The level of activity in the Norwegian economy is high and continues to be robust in the face of uncertainty in the global economy. Norwegian businesses and households are showing an impressive ability to adapt. As a bank, we contribute by providing good advice to thousands of customers every day. We find that customers appreciate having a solid, Norwegian bank to support them," says CEO Kjerstin R. Braathen. The result for the quarter is a decrease of NOK 621 million, or 6 per cent, compared with the corresponding period last year.

Lending growth in all segments Total lending growth was 1.4 per cent in the quarter, and the lending volume was 4.3 per cent higher than at the end of the second quarter last year. The growth was seen across customer segments, industries and geographical locations. Profit performance in the corporate customer market was particularly good in the second quarter, driven by low losses and strong commission income and market activity. Lending growth among small and medium-sized enterprises in Norway was a solid 2.0 per cent for the quarter. Loans to large corporates and international customers increased by 3.0 per cent compared with the previous quarter and by 8.7 per cent compared with the corresponding quarter of last year. Although the interest rate path envisaged by the Norwegian central bank, Norges Bank, indicates an increase in the key policy rate, the number of applications for pre-qualification letters in the personal customer market in the quarter was on a par with the second quarter of last year. Default rates remained at a low level, while the number of loans with interest-only periods was reduced by 8 per cent compared with the corresponding quarter of last year.

Record-high net flow and assets under management The strong development also continued in asset management, with income growth of 13.4 per cent compared with the corresponding quarter of last year, supported by a high influx of customers and increased savings activity. Net flow reached a record high of NOK 46 billion in the quarter, while assets under management reached a record level of NOK 1,782 billion at the end of the quarter. "Our customers are taking an increasingly active approach to their savings activities. In particular, it is pleasing to see that more personal customers have gained an interest in saving in mutual funds and shares. Our personal customers' fixed monthly saving in mutual funds has now exceeded NOK 1 billion," says Braathen.

Strong growth in commission and fee income The proportion of DNB's income from customer activities other than loans and deposits continued to increase during the quarter. Net commission and fee income was up 4.6 per cent compared with the corresponding quarter of last year and 10.6 per cent from the previous quarter. The growth was mainly driven by high levels of activity in investment banking, where income increased by 18.7 per cent compared with the previous quarter. Activity was strong in both equity transactions and bond issues through DNB Carnegie. "Income from commissions and fees is increasing as a result of the strong activity we have together with our customers. The result reflects the fact that many companies want to use the advisory services of DNB and DNB Carnegie. We continue to receive positive feedback from our customers on the overall value proposition we have created together with DNB Carnegie," says Braathen. The tax rate for the second quarter was 24.4 per cent and the expected tax rate for the whole of 2026 is therefore anticipated to increase from 22 per cent to 23 per cent.

Financial key figures for the second quarter of 2026 (figures for the corresponding quarter in 2025 in parentheses): Pre-tax operating profit before impairment amounted to NOK 13.3 billion (13.8) Profit was NOK 9.8 billion (10.4) Earnings per share were NOK 6.50 (6.79) Return on equity was 14.6 per cent (15.4) Cost/income ratio was 40.3 per cent (38.8) Common equity Tier 1 (CET1) capital ratio was 17.4 per cent (18.3)

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