Norway's DNB Q3 profit falls 7.9%
Norway's DNB Q3 profit falls 7.9%
Overview
Norway banking group's Q3 profit after tax fell 7.9% yr/yr to NOK 9.8 bln
Q3 EPS declined to NOK 6.57 from NOK 6.98 a yr ago
Company reported record asset management and investment banking income, driven by strong customer growth
Outlook
DNB says Norwegian economy remains robust, supporting further growth
Company sees strong activity in Nordic region, with particularly strong growth in Sweden
DNB expects continued growth in savings and investments as more customers choose mutual funds
Result Drivers
ASSET MANAGEMENT INFLOWS - Co said record results in asset management were driven by strong customer growth and high capital inflows
INVESTMENT BANKING INCOME - Income from investment banking activities rose 44% yr/yr, attributed to high activity and larger mandates in mergers and acquisitions, loans and bonds
PERSONAL CUSTOMER GROWTH - Co said lending volumes increased 1.3% and deposits rose 3.8% yr/yr amid higher customer satisfaction
Company press release: ID:nWkr5MH81r
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS |
| NOK 6.57 |
|
Q3 CET1 Capital Ratio |
| 17.3% |
|
Q3 ROE |
| 14.5% |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 9 "hold" and 6 "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 NOK311.50, about 2% above its October 20 closing price of NOK305.30
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago
Reuters Recommended Reads
Oct 19 - Austria's BAWAG Group Q3 net profit rises, reconfirms 2026 forecast
Oct 21 - Sweden's Handelsbanken Q3 operating profit below consesus estimates
Oct 19 - ServisFirst Bancshares Q3 profit jumps on loan growth, wider interest margin
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(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.)