Norway's DNB Bank ASA Reports Q1 2025 Net Profit of NOK 10.85 Billion, Beating Estimates as Carnegie Joins the Group

DNB Bank ASA, Norway's largest financial services group, reported net profit of NOK 10.849 billion for the first quarter of 2025, a 6.3% increase on the same period a year earlier and a result that exceeded analysts' expectations. The outcome was driven by growth in net interest income, a first-quarter record in net commissions and fees, and the early contribution from the Carnegie investment bank acquisition, which completed in March 2025 and is being combined with DNB Markets under the DNB Carnegie name from 12 May.

Net interest income rose 5.7% year-on-year to NOK 16.41 billion. Total income for the quarter reached NOK 21.91 billion, and return on equity was 15.9%. Earnings per share were NOK 7.04 for the quarter, up from NOK 6.48 in Q1 2024. Credit quality was reported as robust.

FEES AND CARNEGIE

Net commissions and fees reached a first-quarter record level during the period. The Stockholm-headquartered investment bank, acquired by DNB in March 2025, brings equity capital markets execution, mergers and acquisitions advisory, equity research, and institutional brokerage capabilities.