Dnb Asa Sp/Adr

Good morning, everyone. Welcome, everyone. Good morning. Welcome also to everyone following us on the stream because we are also online with the stream. We need to wait until the right time to start this session and now it's 9.30 and we are ready to present the results for the fourth quarter and for the full year 2025. We see a lot of smiles in the audience. We hope it's because of the dividend. And I will give the floor to our CEO Kjerstin Bråten and also to our CFO Rasmus Figgenskau for the first time on this stage. We will go through the results and there will be time for questions after, also from the online audience. Please, Kjerstin.

Thank you so much, Even, and a very warm welcome to all of you, even if it's cold outside, to this presentation of our fourth quarter results, where also I would like to highlight some of the key points for the year 2025 as a whole. I think it surprises no one if I say that these are historic times in terms of uncertainty. But we often say also that uncertainty does not mean that there are not opportunities out there for businesses and across industries. In fact, we almost see the country forget the little things. And today is an important day for us because of our results. But it was also an important day to pick because it's an important day for a few of our colleagues. And in DNB we like to talk about the importance of people. But more importantly, we have invited you to celebrate Stig, our long-term photographer who turns 60 years today. So that is an illustration to the D&B team. continues to perform well and prove its resilience in Norway. We also see that our customers continue to have a high activity and they perform well across sectors. We focus on our core with our unwavering commitment to our customers and the development of our relationship and our business with them. We are, we believe, presenting a solid set of numbers today demonstrating the activity level in the Norwegian economy and also the strategic value of the positions that we continuously build across the business. I would like to start with a couple of highlights concerning our customers, because we like to start with the customer in DNB. First, DNB Carnegie. In 2025, DNB Carnegie was the institution that took part in the highest number and the largest volume of IPOs across all of Europe. The strength of the position is clearly demonstrated by being number one in the Nordics in investment banking, number one across equities, and number one in Norway and Sweden on also mergers and acquisitions. On the retail banking side, we continue to make life easier for our customers. One of the things they achieved in 2025 was to reduce the time it takes for a mortgage application to be implemented by 24%. We also note that Montrose, which is our challenger platform for retail savings in Sweden, was awarded the best bank in Sweden in 2025 and this only after having been in operation for a year. And we are motivated to see that the level of customer satisfaction is on its way upwards across many areas of our operation and that we see the highest level of customer satisfaction in S Branken after the integration. For the smaller customers, we have made it easier not only to become a customer in the bank, but also in terms of registering your new business with an automatic process, and through this reduced the time consumed by these two activities by 37%. More time for our customers to focus on the business and creating value. I am very proud of the team that works very hard to deliver all of these results across the group and creates value for our customers every day. Key highlights financially for the quarter is return on equity that comes in at 16.6% in the quarter, driven by growth across lending and deposits, but also very high activity in other areas. The return on equity is well above the minimum targeted level of 14%. NII is up by 1.2%, driven naturally by growth in the business as well as other interest income elements, and it's partly offset by mixed effects as well as rate cuts that takes effect in this quarter. Asa Sp-Adr Asa Sp-Adr Asa Sp-Adr Asa Sp-Adr Asa Sp-Adr There are no negative migration on the country. There are positive development in credit quality in areas such as large corporates, but we do book Asa Sp-Adr Asa Sp-Adr Asa Sp-Adr Asa Sp-Adr Asa Sp-Adr Asa Sp-Adr And this is thus the basis for our board's decision to propose a dividend of 18 kr per share as a cash dividend for the year. This is up 7.5% from last year, fully in line with our dividend policy. Our capital ratio remains rock solid, I would say, with a capital core equity tier one of 17.9% after the deduction of dividend and after the deduction of an additional share buyback program of half a percentage points that we do announce today. A headroom of 160 basis points towards the expected and required level by the FSA, comfortably to support a growing business as we move ahead, but also to deliver on dividend policy.

The outlook for the Norwegian economy remains robust.