Norway's DNB Q2 profit falls 6% yr/yr
Norway's DNB Q2 profit falls 6% yr/yr
Overview
Norway bank's Q2 profit after tax fell 6% yr/yr to NOK 9.8 bln
Q2 earnings per share dropped to NOK 6.50 from NOK 6.79 last year
Commission and fee income rose 4.6% yr/yr, driven by investment banking activity
Outlook
DNB expects full-year 2026 tax rate to increase from 22% to 23%
Result Drivers
LENDING GROWTH - Co reported lending growth across all segments, including a 2.0% rise among small and medium-sized enterprises and 3.0% among large corporates and international customers
ASSET MANAGEMENT INFLOWS - Record-high net flow of NOK 46 bln and record assets under management, with income up 13.4% yr/yr, driven by increased customer savings activity
COMMISSION AND FEE INCOME - Net commission and fee income rose 4.6% yr/yr and 10.6% from the previous quarter, mainly due to high investment banking activity
Company press release: ID:nObi18Qbka
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| NOK 6.50 |
|
Q2 CET1 Capital Ratio |
| 17.40% |
|
Q2 ROE |
| 14.60% |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 13 "hold" and 4 "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy."
Wall Street's median 12-month price target for DNB Bank ASA is NOK305.00, about 2.2% above its July 13 closing price of NOK298.50
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)