Board Change • Jun 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Chair of the Board Eimund Nygaard was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Apr 25
DNB Bank ASA Announces Dividend, Payable on or Around 30 April 2026 The shares in DNB Bank ASA will be quoted ex-dividend on 22 April 2026. A dividend of NOK 18.00 per share will be distributed to the company's shareholders as of 21 April 2026, for payment on or around 30 April 2026. New Risk • Apr 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Ankündigung • Apr 24
DNB Bank ASA Announces Board Elections, Effective 1 May 2026 DNB Bank ASA at its annual general meeting was held on 21 April 2026. The Annual General Meeting elected Eimund Nygaard as new Chair and Lars Røsæg as board member. Both were elected as of 1 May 2026 for a period of up to two years, until 2028. The Board of Directors of DNB Bank ASA will have the following composition: Eimund Nygaard (Chair) 2028; Jens Petter Olsen (Vice Chair) 2027; Gro Bakstad 2027; Petter-Børre Furberg 2027; Berit Behring 2027; Vivian Lund 2027; Lars Røsæg 2028; Lillian Hattrem (employee representative) 2028; Eli Solhaug (employee representative) 2028; Haakon Christopher Sandven (employee representative) 2028; Sigmund H. Våpenstad (deputy employee representative) 2028; Ann-Mari Sæterlid (deputy employee representative) 2028; Geir Jarle Næss (deputy employee representative) 2028. Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: kr28.40 (vs kr29.34 in FY 2024) Full year 2025 results: EPS: kr28.40 (down from kr29.34 in FY 2024). Revenue: kr87.9b (up 3.0% from FY 2024). Net income: kr41.9b (down 4.6% from FY 2024). Profit margin: 48% (down from 51% in FY 2024). The decrease in margin was driven by higher expenses. Cost-to-income ratio: 38.0% (up from 35.2% in FY 2024). Non-performing loans: 0.95% (down from 1.06% in FY 2024). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Banks industry in Sweden. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 16% per year. Ankündigung • Feb 27
Dnb Bank Asa Announces Resignation of Olaug Svarva as Chair DNB Bank ASA announced that current Chair of the Board, Olaug Svarva, will step down as Chair at the Annual General Meeting in April, after eight years in the position. Ankündigung • Feb 17
DNB Bank ASA, Annual General Meeting, Apr 27, 2027 DNB Bank ASA, Annual General Meeting, Apr 27, 2027. Reported Earnings • Feb 05
Full year 2025 earnings released: EPS: kr28.39 (vs kr29.34 in FY 2024) Full year 2025 results: EPS: kr28.39 (down from kr29.34 in FY 2024). Revenue: kr87.9b (up 3.0% from FY 2024). Net income: kr41.9b (down 4.6% from FY 2024). Profit margin: 48% (down from 51% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Banks industry in Sweden. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 14% per year. Ankündigung • Feb 05
DNB Bank ASA Proposes Cash Dividend for the Accounting Year of 2025, Payable from 30 April 2026 The Board of Directors of DNB Bank ASA planed to propose to distribute a cash dividend of NOK 18 per share for the accounting year of 2025. The formal decision regarding the dividend will be made on the company's Annual General Meeting, which will be held on 21 April 2026. Last day including right: 21 April 2026; Ex-date: 22 April 2026; Record date (shareholder registration date): 23 April 2026; Payment date: from 30 April 2026. Ankündigung • Dec 10
Havila Shipping ASA Provides Update to the Case Upheld in Oslo District Court Havila Shipping ASA announced that Reference is made to stock exchange announcements on January 21, 2025, and March 24, 2025, where the company reported filing a lawsuit against DnB Bank ASA, Danske Bank AS NUF, and Swedbank AB (publ). Oslo District Court on December 8, 2025 . delivered a judgment on the case. Havila Shipping does not agree with the judgment, and the district court's ruling is not a final decision in the matter. Havila has decided to appeal the judgment within the appeal deadline in January 2026. Reported Earnings • Oct 23
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: kr21.8b (down 3.7% from 3Q 2024). Net income: kr10.7b (down 8.5% from 3Q 2024). Profit margin: 49% (down from 52% in 3Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Banks industry in Sweden. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 13% per year. Reported Earnings • Jul 13
Second quarter 2025 earnings released: EPS: kr6.81 (vs kr6.86 in 2Q 2024) Second quarter 2025 results: EPS: kr6.81. Revenue: kr21.8b (up 3.9% from 2Q 2024). Net income: kr10.5b (up 1.7% from 2Q 2024). Profit margin: 48% (down from 49% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, while revenues in the Banks industry in Sweden are expected to remain flat. New Risk • Jul 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Recent Insider Transactions • May 15
Insider recently bought kr1.1m worth of stock On the 8th of May, Morten Opstad bought around 4k shares on-market at roughly kr266 per share. This transaction amounted to 6.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr9.9m more in shares than they have sold in the last 12 months. Reported Earnings • May 08
First quarter 2025 earnings released: EPS: kr7.04 (vs kr6.50 in 1Q 2024) First quarter 2025 results: EPS: kr7.04 (up from kr6.50 in 1Q 2024). Revenue: kr21.5b (up 7.2% from 1Q 2024). Net income: kr10.9b (up 11% from 1Q 2024). Profit margin: 51% (up from 49% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, while revenues in the Banks industry in Sweden are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 14% per year. Board Change • May 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Berit Behring was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr235, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Banks industry in Sweden. Total returns to shareholders of 20% over the past three years. Reported Earnings • Mar 21
Full year 2024 earnings released: EPS: kr29.34 (vs kr24.93 in FY 2023) Full year 2024 results: EPS: kr29.34 (up from kr24.93 in FY 2023). Revenue: kr85.3b (up 7.9% from FY 2023). Net income: kr43.9b (up 14% from FY 2023). Profit margin: 51% (up from 49% in FY 2023). The increase in margin was driven by higher revenue. Cost-to-income ratio: 35.2% (up from 35.0% in FY 2023). Non-performing loans: 1.06% (down from 1.31% in FY 2023). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, while revenues in the Banks industry in Sweden are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Feb 09
Group Chief Executive Officer recently bought kr1.3m worth of stock On the 6th of February, Kjerstin Braathen bought around 5k shares on-market at roughly kr247 per share. This transaction amounted to 5.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Kjerstin has been a buyer over the last 12 months, purchasing a net total of kr2.0m worth in shares. Reported Earnings • Feb 06
Full year 2024 earnings released: EPS: kr29.34 (vs kr24.93 in FY 2023) Full year 2024 results: EPS: kr29.34 (up from kr24.93 in FY 2023). Revenue: kr85.3b (up 7.9% from FY 2023). Net income: kr43.9b (up 14% from FY 2023). Profit margin: 51% (up from 49% in FY 2023). The increase in margin was driven by higher revenue. Cost-to-income ratio: 35.2% (up from 35.0% in FY 2023). Non-performing loans: 1.05% (down from 1.31% in FY 2023). Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 1.3% decline forecast for the Banks industry in Sweden. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Ankündigung • Feb 05
DNB Bank ASA Proposes Cash Dividend for the Accounting Year of 2024, Payable from 9 May 2025 The Board of Directors of DNB Bank ASA plans to proposed to distribute a cash dividend of NOK 16.75 per share for the accounting year of 2024. The formal decision regarding the dividend will be made on the company's Annual General Meeting, which will be held on 29 April 2025. Ex-date: 30 April 2025 Record date (shareholder registration date): 2 May 2025. Payment date: from 9 May 2025. Ankündigung • Feb 04
DNB Bank ASA, Annual General Meeting, Apr 21, 2026 DNB Bank ASA, Annual General Meeting, Apr 21, 2026. Reported Earnings • Oct 22
Third quarter 2024 earnings released: EPS: kr7.86 (vs kr6.39 in 3Q 2023) Third quarter 2024 results: EPS: kr7.86 (up from kr6.39 in 3Q 2023). Revenue: kr22.7b (up 13% from 3Q 2023). Net income: kr11.7b (up 19% from 3Q 2023). Profit margin: 52% (up from 49% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is expected to fall by 1.3% p.a. on average during the next 3 years compared to a 2.1% decline forecast for the Banks industry in Sweden. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Ankündigung • Oct 22
DNB Bank ASA (OB:DNB) agreed to acquire Carnegie Holding AB from Altor Cib Holding S.A.R.L and others for SEk12 billion. DNB Bank ASA (OB:DNB) agreed to acquire Carnegie Holding AB from Altor Cib Holding S.A.R.L and others for SEk12 billion on October 21, 2024. A cash consideration of SEK 12 billion will be paid by DNB Bank ASA. As part of consideration, SEK 12 billion is paid towards common equity of Carnegie Holding AB. To reflect the strategic importance of the Transaction, DNB Markets will be globally renamed DNB Carnegie, with both companies' strong reputations and cultures continuing under the unified brand. Through the transaction, Carnegie Holding AB will change its name to DNB Carnegie Holding AB. This new unit will lead the operations of DNB Markets and Carnegie Investment Bank's combined operations in investment banking, analysis, stockbroking, wealth and capital management in Sweden, Denmark and Finland, under the leadership of Tony Elofsson as CEO. The Transaction is expected to close in the first half of 2025, and closing conditions include regulatory approvals from authorities in applicable jurisdictions. Until regulatory approvals are obtained and closing of the Transaction occurs, the businesses will continue to operate independently. Following the transaction, DNB Markets is to be renamed DNB Carnegie, the bank announced.
DNB Markets and Morgan Stanley & Co. International plc acted as financial advisors and Mannheimer Swartling acted as legal advisor to DNB. Carnegie Investment Bank, Goldman Sachs and Lenner & Partners have been financial advisors and Gernandt & Danielsson have been legal advisors to the selling parties. Ankündigung • Jul 31
DNB Bank ASA Announces Resignation of Stine Bosse as a Member of the Board of Directors DNB Bank ASA announced that following the election of Stine Bosse as a Member of the European Parliament in June 2024, Bosse has informed that she wants to resign from her role as a member of the Board of Directors of DNB Bank ASA and focus on her role as MEP. Bosse was elected as a board member at the annual general meeting in April 2023, for a period of two years. Bosse resigns from her position with immediate effect. Chair of DNB, Olaug Svarva, thanks Bosse for her important contribution to the Board's work. Reported Earnings • Jul 12
Second quarter 2024 earnings released: EPS: kr6.85 (vs kr5.92 in 2Q 2023) Second quarter 2024 results: EPS: kr6.85 (up from kr5.92 in 2Q 2023). Revenue: kr21.0b (up 8.6% from 2Q 2023). Net income: kr10.8b (up 18% from 2Q 2023). Profit margin: 51% (up from 47% in 2Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 1.4% decline forecast for the Banks industry in Sweden. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Board Change • May 22
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Employee Representative Director Eli Solhaug was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Ankündigung • May 07
DNB Bank Asa Announces Changes in Group Management DNB Bank ASA announced Changes in DNB's Group Management. The following changes apply from 6 May: Business Banking Norway will be established as a separate business area. Head of the unit, Rasmus Aage Figenschou, will become part of the Group Management team. Maria Ervik Løvold will take over as Group Executive Vice President of Personal Banking. A new support unit will be set up, People & Communication, which will be led by Even Westerveld. Eline Skramstad will take over as Group Executive Vice President of Group Risk Management. The technical merger of Sbanken has now been completed, and the next phase is well underway Ingjerd Blekeli Spiten, Sverre Krog and Anne Sigrun Moen will no longer be members of DNB's Group Management team. Recent Insider Transactions • Apr 26
Independent Vice Chair of the Board recently bought kr1.2m worth of stock On the 23rd of April, Jens Olsen bought around 6k shares on-market at roughly kr206 per share. This transaction increased Jens' direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Jens has been a buyer over the last 12 months, purchasing a net total of kr2.3m worth in shares. Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: kr6.50 (vs kr6.61 in 1Q 2023) First quarter 2024 results: EPS: kr6.50 (down from kr6.61 in 1Q 2023). Revenue: kr20.1b (down 2.6% from 1Q 2023). Net income: kr9.82b (down 4.0% from 1Q 2023). Profit margin: 49% (in line with 1Q 2023). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Banks industry in Sweden. Reported Earnings • Mar 16
Full year 2023 earnings released: EPS: kr24.93 (vs kr20.85 in FY 2022) Full year 2023 results: EPS: kr24.93 (up from kr20.85 in FY 2022). Revenue: kr79.1b (up 19% from FY 2022). Net income: kr38.3b (up 19% from FY 2022). Profit margin: 49% (in line with FY 2022). Cost-to-income ratio: 35.0% (down from 39.0% in FY 2022). Non-performing loans: 1.31% (down from 1.40% in FY 2022). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Banks industry in Sweden. Recent Insider Transactions • Feb 05
Group Chief Executive Officer recently bought kr1.2m worth of stock On the 1st of February, Kjerstin Braathen bought around 6k shares on-market at roughly kr206 per share. This transaction amounted to 9.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Kjerstin's only on-market trade for the last 12 months. Reported Earnings • Feb 02
Full year 2023 earnings released: EPS: kr24.92 (vs kr20.47 in FY 2022) Full year 2023 results: EPS: kr24.92 (up from kr20.47 in FY 2022). Revenue: kr79.1b (up 19% from FY 2022). Net income: kr39.6b (up 25% from FY 2022). Profit margin: 50% (up from 48% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Banks industry in Sweden. Ankündigung • Jan 31
DNB Bank ASA Proposes Cash Dividend for the Year 2023, Payable from 8 May 2024 The Board of Directors of DNB Bank ASA proposed to distribute a cash dividend of NOK 16.00 per share for the accounting year of 2023. The formal decision regarding the dividend will be made on the company's Annual General Meeting, which will be held on 29 April 2024. Ex-date: 30 April 2024, Record date (shareholder registration date): 2 May 2024 and Payment date: from 8 May 2024. Buying Opportunity • Dec 08
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 1.6%. The fair value is estimated to be kr266, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 4.9% in 2 years. Earnings is forecast to decline by 8.0% in the next 2 years. Ankündigung • Nov 25
Ferd AS and Tjaldur Holdco II AS entered into an agreement to acquire remaining 28.5% stake in Mintra Holding AS (OB:MNTR) for approximately NOK 220 million. Ferd AS and Tjaldur Holdco II AS entered into an agreement to acquire remaining 28.5% stake in Mintra Holding AS (OB:MNTR) for approximately NOK 220 million on November 23, 2023. The shareholders of Mintra will receive a cash offer of NOK 3.50 per share. Prior to this transaction, Ferd and Tjaldur hold a 71.5% stake in Mintra and upon completion of all remaining shares will hold 100% stake in it. The offeror intends to make a compulsory acquisition of the remaining shares in Mintra following settlement of the offer. The offer is subject to customary conditions, including a minimum acceptance level of 90%, regulatory approvals, Mintra having obtained consents required from creditors under its bank financing agreements and no material adverse change having occurred. The offer will not be conditional on financing or further due diligence. The offer is expected to be completed during Q1 2024.
Nordea Bank Abp, filial i Norge is acting as financial advisor to Ferd and Tjaldur in connection with the offer. Wikborg Rein Advokatfirma AS is acting as legal advisor to Ferd and Advokatfirmaet CLP DA is acting as legal advisor to Tjaldur. Reported Earnings • Oct 22
Third quarter 2023 earnings released: EPS: kr6.39 (vs kr4.86 in 3Q 2022) Third quarter 2023 results: EPS: kr6.39 (up from kr4.86 in 3Q 2022). Revenue: kr20.0b (up 23% from 3Q 2022). Net income: kr9.81b (up 30% from 3Q 2022). Profit margin: 49% (up from 46% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, while revenues in the Banks industry in Sweden are expected to remain flat. Reported Earnings • Jul 14
Second quarter 2023 earnings released: EPS: kr5.92 (vs kr4.97 in 2Q 2022) Second quarter 2023 results: EPS: kr5.92 (up from kr4.97 in 2Q 2022). Revenue: kr19.3b (up 17% from 2Q 2022). Net income: kr9.13b (up 19% from 2Q 2022). Profit margin: 47% (in line with 2Q 2022). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Banks industry in Sweden. Reported Earnings • May 03
First quarter 2023 earnings released: EPS: kr6.77 (vs kr4.69 in 1Q 2022) First quarter 2023 results: EPS: kr6.77 (up from kr4.69 in 1Q 2022). Revenue: kr20.6b (up 31% from 1Q 2022). Net income: kr10.5b (up 45% from 1Q 2022). Profit margin: 51% (up from 46% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Banks industry in Sweden. Recent Insider Transactions • Apr 30
Independent Director recently bought kr1.1m worth of stock On the 27th of April, Jens Olsen bought around 6k shares on-market at roughly kr181 per share. This transaction increased Jens' direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Board Change • Mar 17
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Employee Representative Director Jannicke Skaanes was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 14
Full year 2022 earnings released: EPS: kr20.97 (vs kr15.65 in FY 2021) Full year 2022 results: EPS: kr20.97 (up from kr15.65 in FY 2021). Revenue: kr66.4b (up 17% from FY 2021). Net income: kr32.5b (up 34% from FY 2021). Profit margin: 49% (up from 43% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Banks industry in Sweden. Ankündigung • Feb 09
DNB Bank ASA Proposes Cash Dividend for the Accounting Year of 2022, Payable on 5 May 2023 The Board of Directors of DNB Bank ASA plans to propose to distribute a cash dividend of NOK 12.50 per share for the accounting year of 2022. The formal decision regarding the dividend will be made on the company's Annual General Meeting, which will be held on 25 April 2023. Ex-date is 26 April 2023, record date (shareholder registration date) is 27 April 2023 and payment date is from 5 May 2023. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Employee Representative Director Jannicke Skaanes was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 26
Third quarter 2022 earnings released: EPS: kr4.75 (vs kr4.27 in 3Q 2021) Third quarter 2022 results: EPS: kr4.75 (up from kr4.27 in 3Q 2021). Revenue: kr16.3b (up 12% from 3Q 2021). Net income: kr7.54b (up 14% from 3Q 2021). Profit margin: 46% (in line with 3Q 2021). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Banks industry in Sweden. Reported Earnings • Jul 14
Second quarter 2022 earnings released: EPS: kr4.86 (vs kr4.03 in 2Q 2021) Second quarter 2022 results: EPS: kr4.86 (up from kr4.03 in 2Q 2021). Revenue: kr16.5b (up 15% from 2Q 2021). Net income: kr7.53b (up 21% from 2Q 2021). Profit margin: 46% (up from 44% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 8.8%, compared to a 7.2% growth forecast for the industry in Sweden. Board Change • May 08
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Employee Representative Director Jannicke Skaanes was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Vice Chair of the Board Svein-Richard Brandtzaeg was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr15.55 (up from kr11.89 in FY 2020). Revenue: kr56.7b (up 20% from FY 2020). Net income: kr24.3b (up 31% from FY 2020). Profit margin: 43% (up from 39% in FY 2020). The increase in margin was driven by higher revenue. Cost-to-income ratio: 43.0% (up from 41.5% in FY 2020). Non-performing loans: 1.74% (down from 1.88% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 7.3%, compared to a 4.6% growth forecast for the banks industry in Sweden. Reported Earnings • Jul 16
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr13.4b (up 18% from 2Q 2020). Net income: kr5.69b (up 30% from 2Q 2020). Profit margin: 42% (up from 39% in 2Q 2020). The increase in margin was driven by higher revenue. 
