DNB Profit Falls 9% Amid Rate Cuts

DNB Group reported Q1 net profit of 9.86 bn crowns, a 9.1% decline from 10.85 bn crowns a year earlier.
Net interest income fell 6.8% to 15.30 bn crowns as average lending spreads narrowed by 20 bps, reflecting Norges Bank’s September 2025 rate cut.
Operating expenses rose 6.7% to 8.44 bn crowns, cost‑to‑income ratio hit 38.7%, and impairment charges jumped to 644 m crowns, mainly in construction exposure.
CEO Kjerstin R. Braathen highlighted CET1 at 18.1% and a 47 bn crown long‑term funding plan, while board approved a 3.5% share buyback.