Norwegian banking giant DNB will report a positive mark-to-market effect of NOK 30 million from basis swaps related to funding in the first quarter of 2024. This was disclosed in a press release.

At the same time, earnings will be weighed down by a negative currency effect of NOK 566 million related to Additional Tier 1 (AT1) capital denominated in US dollars and Swedish kronor.

These effects will be recorded under net gains on financial instruments at fair value in the interim report.