The Annual General Meeting of DNB Bank ASA was held on 25 April 2023. The Annual General Meeting re-elected Gro Bakstad as Board member and Jens Petter Olsen as Vice Chair, and elected Christine Bosse and Petter-Børre Furberg as new Board members. All elected for a period of two years, until 2025.

The Board of Directors of DNB Bank ASA will have the following composition:

For further information, please contact:

Investor contact
Rune Helland, Head of Investor Relations, tel. (+47) 232 68 400/(+47) 977 13 250

Media contact
Thomas Midteide, Group Executive Vice President, Communications and Sustainability, tel.: (+47) 962 32 017

The information is subject to the disclosure requirements set out in section 5-12 of the Norwegian Securities Trading Act.

DNB's Annual General Meeting was held on 25 April 2023. All items on the agenda were adopted as proposed, cf. the notice published on 31 March 2023.

The minutes from the Annual General Meeting are attached.

For further information, please contact:

Investor contact
Rune Helland, Head of Investor Relations, tel. (+47) 232 68 400 / (+47) 977 13 250 

Media contact
Thomas Midteide, Group Executive Vice President, Communications and Sustainability, tel.: (+47) 962 32 017

The information is subject to the disclosure requirements set out in section 5-12 of the Norwegian Securities Trading Act. 

DNB will publish its results for the first quarter of 2023 on Thursday, 27 April 2023 at 7.30 CET.

9:30 CET: Presentation

CEO Kjerstin Braathen and CFO Ida Lerner present the results at a live streamed presentation. It will be possible to ask questions online and a broadcast will be available on the Investor Relations pages at ir.dnb.no. It will also be possible to physically attend the presentation at DNB's head office in Bjørvika, Dronning Eufemias gate 30. Please register your attendance in Oslo, at [email protected].

13:30 CET: Conference call for analysts and investors

Call in details: Norway +47 21 56 33 18, UK Wide +44 (0) 33 0551 0200, US +1 78 6697 3501. Password: DNB Q1. Please join the call 5 minutes early to allow the operator to transfer you into the call by the scheduled start time.

The conference call (listen-only mode) and a recording of this will be available on the Investor Relations pages at ir.dnb.no.

For further information, please contact:
Investor contact: Rune Helland, head of Investor Relations, tel. (+47) 23 26 84 00 / (+47) 977 13 250
Media contact: Thomas Midteide, Group Executive Vice President, Communication & Sustainability, tel. (+47) 962 32 017

This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.

The new accounting rules for the recognition, measurement and presentation of insurance contracts (IFRS 17) became mandatory for the period beginning on 1 January 2023, with requirements for comparable figures for 2022. The DNB Group will report in accordance with IFRS 17 as of the first quarter of 2023. At the same time, the DNB Group will change classification of some financial instruments under IFRS 9.

There are no changes in the underlying business model, operations or strategy as a result of the introduction of IFRS 17. The transition to IFRS 17 does not affect the DNB Group's common equity Tier 1 (CET1) capital, and thus does not affect the Group's capital adequacy, leverage ratio, minimum distributable amount (MDA) or dividend capacity.

The new IFRS 17 rules entail a new measurement method for the Group's life insurance liabilities, whereby estimated future cashflows in the insurance contracts will be discounted using a market-based interest rate. This affects the transition effect as at 1 January 2022, recognised liabilities and future profit and loss. There will also be a change from the previous presentation of the income statement, as operating expenses relating to insurance contracts under the new rules are included in net operating income in the income statement, whereas they were previously presented under operating expenses.

The IFRS 17 rules are effective only for the DNB Group accounts, which means that the rules are not being introduced in the company accounts for DNB Livsforsikring. The transition to IFRS 17 does therefore not affect DNB Livsforsikring's capitalisation, tax base or dividend capacity.

The full implementation effect of IFRS 17, as well as the effect of the changed measurement method for financial assets, has reduced the Group's equity at the time of the transition on 1 January 2022 with NOK 9 836 million after tax.

Certain investment contracts, including unit link contracts and defined contribution pension schemes, fall outside the scope of the IFRS 17 requirements and are assessed under the rules for financial instruments in IFRS 9.

See attached for restated comparative figures for 2022 for the DNB Group (for Excel version see https://www.ir.dnb.no/press-and-reports/press-releases).

For further information, please contact:
Rune Helland, head of Investor Relations, tel. (+47) 23 26 84 00 / (+47) 977 13 250

DNB will publish its results for the first quarter of 2023 on Thursday, 27 April 2023 at 7.30 CET.

9:30 CET: Presentation

CEO Kjerstin Braathen and CFO Ida Lerner present the results at a live streamed presentation. It will be possible to ask questions online and a broadcast will be available on the Investor Relations pages at ir.dnb.no. It will also be possible to physically attend the presentation at DNB's head office in Bjørvika, Dronning Eufemias gate 30. Please register your attendance in Oslo, at [email protected].

13:30 CET: Conference call for analysts and investors

Call in details: Norway +47 21 56 33 18, UK Wide +44 (0) 33 0551 0200, US +1 78 6697 3501. Password: DNB Q1. Please join the call 5 minutes early to allow the operator to transfer you into the call by the scheduled start time.

The conference call (listen-only mode) and a recording of this will be available on the Investor Relations pages at ir.dnb.no.

For further information, please contact:
Investor contact: Rune Helland, head of Investor Relations, tel. (+47) 23 26 84 00 / (+47) 977 13 250
Media contact: Thomas Midteide, Group Executive Vice President, Communication & Sustainability, tel. (+47) 962 32 017

This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.

In the first quarter of 2023, the DNB Group will recognise a negative mark-to-market effect of NOK 3.7 million from basis swaps connected to funding. Furthermore, a positive effect of NOK 526.6 million from the USD Additional Tier 1 capital will also be recognised. The effects will appear under Net gains on financial instruments at fair value in our financial statement.

For further information, please contact:
Rune Helland, head of Investor Relations, tel. (+47) 23 26 84 00 / (+47) 977 13 250

Shareholders in DNB Bank ASA are invited to attend the Annual General Meeting to be held on Tuesday 25 April 2023 at 15:00. The Annual General Meeting will be held at DNB's premises in Oslo, with the possibility of digital participation for those who wish.

The deadline for voting in advance, submission of proxies and registration to participate in person is Friday 21 April at 16:00.

The notice and guidance for digital attendance are enclosed. The remainder of the documents are available on www.dnb.no/en/agm.

For further information, please contact:

Investor contact
Rune Helland, Head of Investor Relations, tel. (+47) 232 68 400/ (+47) 977 13 250

Media contact
Thomas Midteide, Group Executive Vice President, Communications, tel. (+47) 962 32 017

This information is subject to the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act.

"On the basis of Norges Bank's decision at the monetary policy meeting on 23 March to raise the key policy rate by 0.25 percentage points, DNB has decided to increase the interest rate on home mortgages and deposits by up to 0.25 percentage points," says Ingjerd Blekeli Spiten, head of Personal Banking in DNB.

In DNB, we want to help young people enter the housing market, therefore customers who are buying their first home will be given our best floating interest rate of 4.14 per cent. We have also strengthened our advisory services targeting this customer group.

All customers whose interest rates are adjusted will be given information in the online bank or receive a letter by post, explaining how their home mortgage will be affected. The new interest rates will apply from 31 March for new mortgages and from 28 March for new deposits, and from 11 May for existing mortgages and deposits. 

For further information:
Rune Helland, head of Investor Relations: (+47) 23 26 84 00 / (+47) 97 71 32 50
Vibeke Hansen Lewin, Executive Vice President Communications: (+47) 99 01 33 49

This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.

DNB Bank ASA ("DNB") has completed the share buy-back programme announced on 9 February 2023.

A total of 5,116,200 shares were bought back on trading venues, at an average price of NOK 201.0339. Following this, DNB owns a total of 5,116,200own shares - i.e. the same number. A proposal will be made at this year's Annual General Meeting, which will be held on 25 April 2023, to cancel all these shares.

A proposal will also be made at this year's Annual General Meeting for 2,635,600shares to be redeemed from the Norwegian Government, represented by the Ministry of Trade, Industry and Fisheries, so that its current ownership interest of 34 percent remains unchanged.

For more information about the buy-back programme, please see the stock exchange announcement that was published on 9 February 2023, which is available at www.newsweb.oslobors.no.

For further information, please contact Rune Helland, Head of Investor Relations, on +47 23 26 84 00 or +47 97 71 32 50.

This announcement contains information that is subject to disclosure requirements pursuant to the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

On 9 February 2023, DNB Bank ASA ("DNB") announced that the company has decided to initiate a share buy-back programme comprising up to 0.5 percent of the company's own shares, which represents a total of 7,751,800 shares.

Up to 5,116,200 shares will be bought back on trading venues by 10 March 2023, and a proposal will be made at this year's Annual General Meeting, which will be held on 25 April 2023, to cancel the shares. At the same meeting it will also be proposed to redeem the remaining shares - up to 2,635,600 shares - from the Norwegian Government, represented by the Ministry of Trade, Industry and Fisheries ("NFD"), so that NFD's ownership interest of 34 percent remains unchanged.

During week 10 of 2023, DNB purchased 1,145,589 own shares at an average price of NOK 204.7298 per share. Following this, DNB owns a total of 5,116,200 own shares, corresponding to 0.33 percent of the shares in the company.

Below is a more detailed overview of the transactions carried out under the buy-back programme:

For more information about the buy-back programme, please see the stock exchange announcement that was published on 9 February 2023, which is available at www.newsweb.oslobors.no.

For further information, please contact Rune Helland, Head of Investor Relations, on +47 23 26 84 00 or +47 97 71 32 50.

This announcement contains information that is subject to disclosure requirements pursuant to the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

Attachments: An overview of all buy-backs made this week is enclosed with this announcement and available at www.newsweb.oslobors.no.