DNB rises after Q4 profit beat as Norway's economy gains momentum

Dnb Bank ASA

05/02/2025 08:13

** Shares in DNB rise 3% after the Norwegian bank posts a
better-than-expected jump in Q4 profit, as Norway's economy
gains momentum
    ** Shares on track for their best day since October 2024
    ** DNB's net profit surges 34.8% to NOK 12.68 billion ($1.13
billion), driven by strong customer activity, solid fee income,
lending growth, and rising financing demand
    ** Quarterly net interest income rises to NOK 16.72 billion,
beating expectations of NOK 16.17 billion, and up from NOK 16
billion a year earlier
    ** Barclays notes that while some may argue DNB's net
interest income beat is due to "treasury" and "amortization
effects", the strong loan growth still drove a positive surprise
    ** Jefferies says DNB's 4Q24 profit exceeded expectations by
27%, driven by 3% higher net interest income, all-time high
fees, lower impairments, and a 40 bps stronger CET1 ratio


($1 = 11.2113 Norwegian crowns)

 (Reporting by Jesus Calero)
 ((Jesus.calero@thomsonreuters.com))