Norway's DNB tops quarterly profit view as economy gains steam (updated)
05/02/2025 06:44
(Adds details in paragraphs 2-3)
Feb 5 (Reuters) - Norway's largest bank DNB DNB.OL
reported a bigger-than-expected jump in fourth-quarter earnings
on Wednesday, and said the Norwegian economy is gaining
momentum, driven by increased housing market activity and rising
demand for financing.
DNB's net profit rose 34.8% to 12.68 billion crowns ($1.13
billion) during October-December, from 9.40 billion a year
earlier. Analysts, on average, had expected 9.99 billion crowns,
according to a company-compiled poll.
High interest rates have bolstered Nordic banks' profit over
the past two years. While other central banks in the region have
started to ease their monetary policy, Norway has kept its
policy rate steady to cool the economy, curb inflation and
address rising business costs.
($1 = 11.2314 Norwegian crowns)
(Reporting by Jesus Calero; Editing by Sherry Jacob-Phillips)
((Jesus.calero@thomsonreuters.com))