DNB Bank ASA (OTCPK:DNBBY) Q1 2025 Earnings Conference Call May 7, 2025 7:30 AM ET
Company Participants
Rune Helland – Head, Investor Relations
Ida Lerner – Chief Financial Officer
Kjerstin Braathen – Chief Executive Officer
Harald Serck-Hanssen – Group Executive Vice President, Large Corporates & International
Alex Opstad – Group Executive Vice President, DNB Markets
Conference Call Participants
Gulnara Saitkulova – Morgan Stanley
Shrey Srivastava – Citigroup
Sofie Peterzens – JPMorgan
Riccardo Rovere – Mediobanca
Jan Erik Gjerland – ABG
Herman Zahl – Pareto Securities
Rune Helland
Thank you very much, and hello everyone and welcome to DNB’s Analyst Call for the First Quarter. Around the table here in Oslo, we have in addition to Kjerstin and Ida. Maria Løvold from Personal Banking; Harald Serck-Hanssen, Large Corporate; and also
Rasmus Figenschou from Norwegian Corporate; and of course, Alex Opstad from DNB Markets.
Before we open up for questions, Ida will give you the highlights for the quarter. So Ida.
Ida Lerner
Hello, and thank you everyone for listening in. The Norwegian economy continues to remain robust with good activity level in the first quarter. Moderate growth outlook low unemployment levels at around 2% and built-in stabilizers, which provides ample room to maneuver should there be need for that.
The Norwegian Central Bank has kept a key policy rate at 4.5%. The Central Bank is expected to cut the policy rate twice this year to end up at 4% by year-end.
Looking at our results for the quarter. This is really a strong performance across the board and also shows very strong signs of high activity levels going up from the fourth quarter and continuing also in the first quarter. We’re well positioned for future fee-related income also now with the inclusion of Carnegie as of March.
Return on equity came
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