Analysis date: 2026-05-31 | Country: NO | Currency: NOK
| Field | Value |
|---|---|
| Rating | Buy |
| Intrinsic Value | 340.0 NOK |
| 24m Target | 315.0 NOK |
| Price at Analysis | 288.5 NOK |
| Buffett Score | 15/20 |
| ROIC | 13.6% |
| Economic Profit | +16,906M NOK |
| Implied Upside (IV) | 17.9% |
Ticker: DNB.OL | Name: DNB Bank | Country: NO | Sector: Bank/Savings Bank
DNB Bank operates in the Nordic market. ROIC 13.6% vs WACC 8% → EP +16,906M NOK.
Retail and corporate customers pay interest on loans and fees for financial services.
Net interest income (NII) is the primary revenue driver, supplemented by fees and commissions.
ROIC 13.6% vs WACC 8.0% → Economic Profit +16,906M NOK.
Funding cost, credit quality (LLP), and regulatory capital requirements (CET1).
Moat strength: 3/5. Geographic presence, customer loyalty, and local market share.
Volume growth in mortgage and corporate portfolios plus interest rate environment.
Top risks: Credit risk, interest rate risk, Basel IV regulatory requirements, neobank competition.
Conservative credit culture, stable dividend policy, CSRD reporting obligations.
Buy — DNB Bank: Observation candidate, await data and price development.
mttssn research · DNB Bank (DNB.OL) · 2026-W96 · 2026-05-31