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Stock

DNB Bank ASA

DNB.OL
44
Banks - Regional · Financial Services
Also trades as: 0O84.L GBP 3.08 (-0.39%)
Price
kr 307.70
-1.30 (-0.42%)
Market Cap
kr 441.03B
Exchange
Oslo Stock Exchange
Winston Score
44
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Oct 5, 2026 · filings through Jun 30, 2026

§How the score breaks down

Bank Quality
Not counted
n/a
Growth
Weak
2/20
Capital Strength
Not counted
n/a
Asset Quality
Not counted
n/a
Valuation
Good
5/10
Ownership
Good
10/15
Dividends
Exceptional
5/5

22 of 50 counted points = Winston Score 44. Pillars marked n/a do not apply to this company and are left out of the total.

Share count falling — buybacks

−4.9% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 1.55B (2021) → 1.47B (2025)

§Winston Score History

The full picture

DNB Bank ASA is Norway's largest bank, serving millions of individual customers, small businesses, and large corporations across Scandinavia and beyond. It offers everyday banking services like savings accounts, loans, and mortgages, as well as more complex products like corporate lending, investment banking, and asset management. DNB is a dominant institution in Norway, where it holds a leading market share in both retail and corporate banking.

DNB makes money primarily through net interest income — the difference between what it charges borrowers and what it pays depositors — along with fees from financial services and wealth management. The bank operates mainly in Norway but has meaningful international exposure through its shipping, seafood, and energy financing businesses, which are tied to industries where Norway plays a global role. Its main competitive advantage is its scale and deep relationships in the Norwegian market, though rising interest rates and potential credit losses in its loan book remain key risks to watch.

Score breakdown

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Bank Quality

Not applicable for this business.

Growth

Sales growth
Sales YoY
-10.9%
Shrinking sales (-10.9% YoY)
Profit growth
EPS YoY
-7.5%
Earnings shrinking (-7.5% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Capital Strength

Not applicable for this business.

Asset Quality

Not applicable for this business.

Valuation

Price vs profit
P/E Ratio (TTM)
11.1x
Attractive valuation — P/E 11.1

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
-0.2
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
5.85%
Healthy income — 5.85% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
+78.7%
Dividend growing fast (78.7% YoY)

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