DNB Bank : Factbook 1Q22

Contact information

Group Management

Kjerstin R. Braathen, CEO Ida Lerner, CFO

For further information, please contact

Rune Helland, head of Investor Relations	[e-mail]	[phone]
Anne Engebretsen, Investor Relations	[e-mail]	[phone]
Julie Raaholt Strømme, Investor Relations	[e-mail]	[phone]
Thor Tellefsen, Long Term Funding	[e-mail]	[phone]
Mathias Bruvik, head of Group Financial Reporting	[e-mail]	[phone]
Address
DNB, P.O.Box 1600 Sentrum, N-0021 Oslo

Visiting address: Dronning Eufemias gate 30, Bjørvika, 0191 Oslo

Telephone number [phone]

Information on the Internet

DNB's Investor Relations page: ir.dnb.no

Financial calendar

2022

5 May	Distribution of dividends
12 July	Q2 2022
20 October	Q3 2022
2023
9 February	Q4 2022
9 March	Annual report 2022
25 April	Annual General Meeting
26 April	Ex-dividend date
5 May	Distribution of dividends
27 April	Q1 2023
12 July	Q2 2023
19 October	Q3 2023

Statements regarding DNB's relative market positions are, unless otherwise specified, based on internal DNB analyses.

FACTBOOK DNB - 1Q22 CHANGES

Acquisition of Sbanken

On 15 April 2021, DNB announced an agreement with Sbanken ASA on an offer to acquire 100 per cent of the shares in Sbanken. On 14 June 2021, DNB had received the prior acceptance of 81 per cent of the shareholders of Sbanken, which, together with the shares owned by DNB, meant that DNB had an acceptance rate of more than 90 per cent. The Ministry of Finance approved the transaction on 1 July 2021. The transaction was also subject to the approval of the Norwegian Competition Authority, and the Authority first rejected DNB's application to complete the acquisition. DNB submitted a complaint to the Norwegian Competition Appeals Tribunal concerning the Competition Authority's prohibition of the acquisition, and the acquisition was approved on 16 March 2022. The share purchase was completed 10 business days later, and Sbanken became a wholly owned subsidiary of DNB on 30 March 2022. At the end of March, DNB held 91.78 per cent of the shares in Sbanken. DNB immediately announced that it would carry out a compulsory acquisition of the remaining shares. DNB accounted for the initial acquisition of 91.78 per cent and the acquisition of the additional 8.22 per cent as one transaction on the acquisition date 30 March 2022 as if DNB held 100 per cent of the shares from that date.

In light of this, Sbanken has been included in the DNB Group's balance sheet figures as of 31 March 2022, but not in the Group's profit figures for the first quarter of 2022. Moreover, Sbanken was not included in the average balance sheet figures calculated for the first quarter of 2022. Sbanken primarily has loans to personal customers in Norway and was included in the personal customer segment's balance sheet as of the end of March 2022.

Since Sbanken was not part of the DNB Group in the first quarter of 2022, Sbanken was not included in other figures such as exposure at default (EAD), funding, liquidity, market shares, etc. Sbanken reported its financial figures for the first quarter of 2022 at the same time as DNB, on 28 April. Financial information about Sbanken is published on sbanken.no/IR. Reference is also made to note G2 in DNB's quarterly report for the first quarter of 2022.

FACTBOOK DNB - 1Q22 CONTENTS

Contents chapter 1 - DNB Group

Financial results and key figures

• 1.1.1 Income statement - condensed

• 1.1.2 Income statement - quarterly figures

• 1.1.3 Income statement - five years

• 1.1.4 Comprehensive income statement - quarterly figures

• 1.1.5 Comprehensive income statement - five years

• 1.1.6 Balance sheet - quarterly figures

• 1.1.7 Balance sheet - five years

• 1.1.8 Key figures - quarterly figures

• 1.1.9 Key figures - five years

• 1.1.10 Key figures - definitions

Net interest income

• 1.2.1 Net interest income - split by segments

• 1.2.2 Average volumes - split by segments

• 1.2.3 Interest rate spreads - split by segments

• 1.2.4 Quarterly development in average interest rate spreads

• 1.2.5 Net interest income

• 1.2.6 Changes in net interest income

Net other operating income

• 1.3.1 Net other operating income

• 1.3.2 Net gains on financial instruments at fair value

• 1.3.3 Profit from investments accounted for by the equity method - Fremtind

Operating expenses

• 1.4.1 Operating expenses

• 1.4.2 Full-time positions based on the operational structure

• 1.4.3 IT expenses

Loans and financial commitments

• 1.5.1 Loans and financial commitments to customers by industry segment

• 1.5.2 Development in maximum exposure of loans and financial commitments to customers

• 1.5.3 Development in accumulated impairment of loans and financial commitments to customers

• 1.5.4 Stage 3 - development in net loans at amortised cost and financial commitments to customers

• 1.5.5 Impairment of financial instruments

Exposure at default (EAD) and risk classification

• 1.6.1 Credit portfolio

  - EAD by industry segment

  - Risk classification of portfolio

• 1.6.2 Customer segments

  - EAD

  - Risk classification of portfolio

• 1.6.3 Breakdown of commercial real estate

  • - EAD

  • - Risk classification of portfolio

  • - EAD by geographic distribution

• 1.6.4 Breakdown of shipping

  • - EAD

  • - Risk classification of portfolio

  • - Risk classification of portfolio - breakdown into sub-segments

• 1.6.5 Breakdown of oil, gas and offshore

  • - EAD

  • - Risk classification of portfolio

  • - Risk classification of portfolio - breakdown into sub-segments

• 1.6.6 DNB's risk classification

Liquidity, funding and shareholder structure

• 1.7.1 Funding

• 1.7.2 Redemption profile

• 1.7.3 Minimum requirement for own funds and eligible liabilities (MREL)

• 1.7.4 Asset encumbrance

• 1.7.5 Liquid assets

• 1.7.6 Liquidity Coverage Ratio

• 1.7.7 Credit ratings

• 1.7.8 Major shareholders

• 1.7.9 Ownership according to nationality

• 1.7.10 Share buy-back programmes

Capital adequacy

• 1.8.1 Own funds - DNB Group

• 1.8.2 Leverage ratio

• 1.8.3 Specification of exposure at default, risk exposure amount and average risk weights

• 1.8.4 Own funds - DNB Bank ASA and DNB Group

• 1.8.5 Cross-sectoral financial group