DNB Bank ASA (OSTO:DNBo)

kr 235.3 5.1 (2.22%) Market Cap: 342.05 Bil Enterprise Value: 728.38 Bil PE Ratio: 8.52 PB Ratio: 1.22 GF Score: 73/100

DNB Bank ASA Pre-close call Q3 Transcript

Sep 26, 2023 / 01:00PM GMT

Release Date Price: kr217.2 (-1.41%)

Transcript

Rune Helland

DNB Bank ASA - Head of IR

Hello, everyone, and welcome to DNB's Pre Close for the Third Quarter. The objective of this precall is to remind you of what we have communicated, which could have an effect on the third quarter. We will also give you some statistics. That is, of course, public that might help you for the third quarter. As usual, I will go through the NII and the capital and then Anne will do the remaining of the P&L.

I remind you that there is 1 interest day or 1 day of interest more in the third quarter than in the second quarter, which we have said is approximately NOK 125 million. On the volume side, we have some updated statistics from Statistics of Norway. For August, the growth was 3.7% year-over-year. This is down from 4.4% in August 2022. So the trend is a gradual, lower demand for credit in the household. The Central Bank is expecting credit growth for the year as a whole of about 3.7%. We have not seen any significant changes in the competitive landscape for the quarter.

On the corporate banking side, Statistics of Norway has seen credit growth for

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