DNB Bank ASA

Fund Information / Factsheet • Oct 20, 2022

DNB Group

Factbook

Third quarter 2022 (Unaudited)

Contact information

Group Management

Kjerstin R. Braathen, CEO Ida Lerner, CFO

For further information, please contact

Rune Helland, Head of Investor Relations	rune.helland@dnb.no	+47 23 26 84 00
Anne Engebretsen, Investor Relations	anne.engebretsen@dnb.no	+47 23 26 84 08
Julie Raaholt Strømme, Investor Relations	julie.raaholt.stromme@dnb.no	+47 90 55 45 45
Thor Tellefsen, Long Term Funding	thor.tellefsen@dnb.no	+47 23 26 84 04
Mathias Bruvik, Head of Group Financial Reporting	mathias.bruvik@dnb.no	+47 91 75 87 74

Address

DNB, P.O.Box 1600 Sentrum, N-0021 Oslo Visiting address: Dronning Eufemias gate 30, Bjørvika, 0191 Oslo

Telephone number

+47 91 50 48 00

Information on the Internet

DNB's Investor Relations page: ir.dnb.no

Financial calendar

2022

15 November Capital Markets Day

2023

9 February	Q4 2022
9 March	Annual report 2022
25 April	Annual General Meeting
26 April	Ex-dividend date
5 May	Distribution of dividends
27 April	Q1 2023
12 July	Q2 2023
19 October	Q3 2023

Statements regarding DNB's relative market positions are, unless otherwise specified, based on internal DNB analyses.

Main assumptions regarding Sbanken

Sbanken became a wholly owned subsidiary of DNB on 30 March 2022 and was included in the Group's balance sheet figures as of 31 March 2022.

As from the second quarter, Sbanken has been included in all figures and tables throughout the Factbook, unless otherwise mentioned. For more information, please see note G2 in the second quarter report for the DNB Group.

Contents chapter 1 - DNB Group

Financial results and key figures

• 1.1.1 Income statement condensed
• 1.1.2 Income statement quarterly figures
• 1.1.3 Income statement five years
• 1.1.4 Comprehensive income statement
• 1.1.5 Balance sheet quarterly figures
• 1.1.6 Balance sheet five years 1.1.7 Key figures - quarterly figures
• 1.1.8 Key figures five years
• 1.1.9 Key figures definitions

Net interest income

• 1.2.1 Net interest income split by segments
• 1.2.2 Average volumes split by segments
• 1.2.3 Interest rate spreads split by segments
• 1.2.4 Quarterly development in average interest rate spreads
• 1.2.5 Net interest income
• 1.2.6 Changes in net interest income

Net other operating income

• 1.3.1 Net other operating income
• 1.3.2 Net gains on financial instruments at fair value
• 1.3.3 Profit from investments accounted for by the equity method Fremtind

Operating expenses

• 1.4.1 Operating expenses
• 1.4.2 Full-time positions based on the operational structure
• 1.4.3 IT expenses

Loans and financial commitments

• 1.5.1 Loans and financial commitments to customers by industry segment
• 1.5.2 Development in maximum exposure of loans and financial commitments to customers
• 1.5.3 Development in accumulated impairment of loans and financial commitments to customers
• 1.5.4 Stage 3 development in net loans at amortised cost and financial commitments to customers
• 1.5.5 Impairment of financial instruments

Exposure at default (EAD) and risk classification

• 1.6.1 Credit portfolio
  • EAD by industry segment
  • Risk classification of portfolio
• 1.6.2 Customer segments
  • EAD
    • Risk classification of portfolio
• 1.6.3 Breakdown of commercial real estate
  • EAD
    • Risk classification of portfolio
    • EAD by geographic distribution
• 1.6.4 Breakdown of shipping
  • EAD
    • Risk classification of portfolio
    • Risk classification of portfolio breakdown into sub-segments
• 1.6.5 Breakdown of oil, gas and offshore
  • EAD
    • Risk classification of portfolio
    • Risk classification of portfolio breakdown into sub-segments
• 1.6.6 DNB's risk classification

Liquidity, funding and shareholder structure

• 1.7.1 Funding
• 1.7.2 Redemption profile
• 1.7.3 Minimum requirement for own funds and eligible liabilities (MREL)
• 1.7.4 Asset encumbrance
• 1.7.5 Liquid assets
• 1.7.6 Liquidity Coverage Ratio (LCR)
• 1.7.7 Net Stable Funding Ratio (NSFR)
• 1.7.8 Credit ratings
• 1.7.9 Major shareholders
• 1.7.10 Ownership according to nationality
• 1.7.11 Share buy-back programmes

Capital adequacy

• 1.8.1 Own funds condensed
• 1.8.2 Leverage ratio
• 1.8.3 Specification of exposure at default, risk exposure amount and average risk weights
• 1.8.4 Own funds DNB Bank ASA and DNB Group
• 1.8.5 Cross-sectoral financial group

Contents chapter 2 - Segmental reporting

Financial performance

• 2.1.1 Extracts from income statement
• 2.1.2 Main balance sheet items and key figures
• 2.1.3 Key figures Norwegian and international units

Market shares

• 2.2.1 DNB's market shares in Norway retail market and corporate market
• 2.2.2 Development in market shares, loans and deposits
• 2.2.3 DNB Livsforsikring market shares 2.2.4 DNB Asset Management - market shares retail market

Personal customers (PC)

• 2.3.1 Financial performance
• 2.3.2 Key performance metrics main customer divisions
• 2.3.3 Risk classification of portfolio
• 2.3.4 EAD by industry segment
• 2.3.5 Distribution of loan to value
• 2.3.6 DNB Boligkreditt Average mortgage lending volumes and spreads
• 2.3.7 DNB Eiendom Residential real estate broking in Norway

Corporate customers (CC)

2.4.1 Financial performance

• 2.4.2 Key performance metrics main customer divisions
• 2.4.3 Risk classification of portfolio
• 2.4.4 EAD by industry segment

Other operations

2.5.1 Financial performance

Main subsidiaries and product units

Total DNB Markets activity:

• 2.6.1 Financial performance
• 2.6.2 Break down of revenues
• 2.6.3 Value-at-Risk

DNB Livsforsikring Group:

• 2.6.4 Financial performance
• 2.6.5 Non-guaranteed products income
• 2.6.6 Guaranteed products income
• 2.6.7 Reconciliation of the DNB Livsforsikring Group's and the DNB Group's financial statements

DNB Asset Management:

2.6.8 Financial performance

Contents chapter 3 - The Norwegian economy

• 3.1.1 Basic information about Norway
• 3.1.2 Government net financial liabilities
• 3.1.3 GDP growth mainland Norway and unemployment rate
• 3.1.4 Contribution to volume growth in GDP, mainland Norway
• 3.1.5 Composition of GDP
• 3.1.6 Composition of exports
• 3.1.7 Key macro-economic indicators, Norway
• 3.1.8 Credit market, 12 month percentage growth
• 3.1.9 Deposit market, 12 month percentage growth
• 3.1.10 House prices
• 3.1.11 Household interest burden and debt burden

Appendix

Disclosure of main features of regulatory capital instruments

Chapter 1 - DNB Group

Financial results and key figures

Net interest income

Net other operating income

Operating expenses

Loans and financial commitments

Exposure at default and risk classification

Liquidity, funding and shareholder structure

Capital adequacy

1.1.1 Income statement - condensed 1)

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Net interest income	12 253	11 525	10 445	10 285	9 766	9 409	9 230	9 479	9 298
Net commissions and fees	2 742	2 829	2 844	3 049	2 448	2 883	2 631	2 494	2 372
Net gains on financial instruments at fair value 2)	706	1 624	1 562	704	1 585	532	799	184	819
Net financial and risk result, life insurance	83	(102)	32	203	147	228	212	474	299
Other operating income	344	443	257	391	396	541	474	694	619
Net other operating income 3)	3 875	4 794	4 695	4 348	4 577	4 184	4 116	3 847	4 109
Total income	16 128	16 319	15 141	14 633	14 343	13 593	13 346	13 326	13 407
Operating expenses	(6 458)	(6 389)	(5 966)	(6 410)	(5 738)	(5 980)	(5 705)	(6 076)	(5 689)
Restructuring costs and non-recurring effects	(15)	(135)	0	(17)	(14)	(58)	(112)	(434)	(13)
Pre-tax operating profit before impairment	9 655	9 795	9 175	8 206	8 591	7 555	7 528	6 816	7 706
Net gains on fixed and intangible assets	1	0	1	24	0	(103)	(3)	(15)	0
Impairment of loans and guarantees	148	209	589	(275)	200	833	110	(1 250)	(776)
Pre-tax operating profit	9 803	10 005	9 765	7 955	8 791	8 285	7 636	5 552	6 929
Tax expense	(2 255)	(2 301)	(2 246)	(2 025)	(1 934)	(1 823)	(1 680)	(570)	(1 386)
Profit from operations held for sale, after taxes	26	81	36	225	26	(30)	(71)	292	2
Profit for the period	7 575	7 785	7 555	6 155	6 883	6 432	5 885	5 274	5 546
Portion attributable to shareholders	7 397	7 611	7 299	5 875	6 657	6 210	5 665	5 083	5 293

1) See table 1.1.2 "Income statement" for more details.

2) See table 1.3.2 "Net gains on financial instruments at fair value" for specification.

3) See table 1.3.1 "Net other operating income" for specification.

1.1.2 Income statement - quarterly figures

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Interest income, amortised cost	19 893	15 311	12 620	11 869	10 938	10 542	10 647	11 043	10 856
Other interest income	1 436	817	687	684	594	733	880	1 002	997
Interest expenses, amortised cost	(8 389)	(3 807)	(1 892)	(1 305)	(1 025)	(1 097)	(1 267)	(1 363)	(1 530)
Other interest expenses	(687)	(796)	(969)	(963)	(741)	(769)	(1 031)	(1 203)	(1 025)
Net interest income	12 253	11 525	10 445	10 285	9 766	9 409	9 230	9 479	9 298
Commission and fee income etc.	3 813	3 847	3 720	4 094	3 389	3 845	3 665	3 504	3 303
Commission and fee expenses etc.	(1 070)	(1 018)	(876)	(1 045)	(940)	(962)	(1 034)	(1 009)	(931)
Net gains on financial instruments at fair value 1)	706	1 624	1 562	704	1 585	532	799	184	819
Net financial result, life insurance	(40)	(175)	(98)	218	53	206	104	479	210
Net risk result, life insurance	123	73	130	(14)	94	22	108	(4)	90
Profit from investments accounted for by the equity method 2)	5	144	(15)	(6)	185	260	86	264	310
Net gains on investment properties	4	2	(4)	45	10	6	31	(8)	(20)
Other income	334	297	276	353	202	275	358	439	329
Net other operating income	3 875	4 794	4 695	4 348	4 577	4 184	4 116	3 847	4 109
Total income	16 128	16 319	15 141	14 633	14 343	13 593	13 346	13 326	13 407
Salaries and other personnel expenses	(3 625)	(3 627)	(3 344)	(3 706)	(3 302)	(3 480)	(3 337)	(3 540)	(3 275)
Other expenses	(1 947)	(2 022)	(1 772)	(1 856)	(1 608)	(1 724)	(1 658)	(2 086)	(1 583)
Depreciation and impairment of fixed and intangible assets	(901)	(874)	(850)	(865)	(842)	(835)	(822)	(884)	(843)
Total operating expenses	(6 473)	(6 524)	(5 966)	(6 427)	(5 752)	(6 038)	(5 817)	(6 509)	(5 702)
Pre-tax operating profit before impairment	9 655	9 795	9 175	8 206	8 591	7 555	7 528	6 816	7 706
Net gains on fixed and intangible assets	1	0	1	24	0	(103)	(3)	(15)	0
Impairment of financial instruments	148	209	589	(275)	200	833	110	(1 250)	(776)
Pre-tax operating profit	9 803	10 005	9 765	7 955	8 791	8 285	7 636	5 552	6 929
Tax expense	(2 255)	(2 301)	(2 246)	(2 025)	(1 934)	(1 823)	(1 680)	(570)	(1 386)
Profit from operations held for sale, after taxes	26	81	36	225	26	(30)	(71)	292	2
Profit for the period	7 575	7 785	7 555	6 155	6 883	6 432	5 885	5 274	5 546
Portion attributable to shareholders	7 397	7 611	7 299	5 875	6 657	6 210	5 665	5 083	5 293
Portion attributable to non-controlling interests	6	36	31	56	3	(12)	(20)	(11)	2
Portion attributable to additional Tier 1 capital holders	172	138	225	225	223	235	240	202	251
Profit for the period	7 575	7 785	7 555	6 155	6 883	6 432	5 885	5 274	5 546
Earnings/diluted earnings per share (NOK)	4.77	4.91	4.71	3.79	4.29	4.01	3.65	3.28	3.41
Earnings per share excluding operations held for sale (NOK)	4.75	4.86	4.68	3.64	4.28	4.03	3.70	3.09	3.41
Average exchange rates in the period:

EUR/NOK 10.07 10.02 9.93 9.98 10.33 10.09 10.25 10.76 10.68 USD/NOK 10.00 9.41 8.85 8.73 8.76 8.37 8.52 9.03 9.14

1) See table 1.3.2 "Net gains on financial instruments at fair value" for specification.

2) See table 1.3.3 for details on Fremtind.

1.1.3 Income statement - full year figures

Amounts in NOK million	YTD 2022	2021	2020	2019	2018	2017
Interest income, amortised cost	47 824	43 997	50 660	60 225	52 621	47 318
Other interest income	2 940	2 890	4 636	5 123	5 039	6 547
Interest expenses, amortised cost	(14 088)				(4 693) (11 511) (23 661) (18 792) (10 335)
Other interest expenses	(2 452)	(3 504)	(5 161)	(2 486)	(2 046)	(8 107)
Net interest income	34 223	38 690	38 623	39 202	36 822	35 422
Commission and fee income etc.	11 379	14 992	13 289	13 484	13 235	12 279
Commission and fee expenses etc.	(2 964)	(3 981)	(3 789)	(3 768)	(3 925)	(3 831)
Net gains on financial instruments at fair value 1)	3 892	3 621	5 902	3 183	1 342	4 548
Net financial result, life insurance	(313)	581	418	696	574	804
Net risk result, life insurance	327	210	241	433	395	491
Net insurance result, non-life insurance					622	683
Profit from investments accounted for by the equity method 2)	134	524	402	410	314	(112)
Net gains on investment properties	2	91	(61)	92	62	143
Other income	908	1 188	1 373	1 126	926	713
Net other operating income	13 365	17 225	17 776	15 655	13 546	15 718
Total income	47 588	55 915	56 399	54 857	50 368	51 140
Salaries and other personnel expenses		(10 596) (13 826) (12 873) (12 603) (11 864) (12 184)
Other expenses	(5 741)	(6 845)	(7 208)	(7 472)	(7 789)	(7 878)
Depreciation and impairment of fixed and intangible assets	(2 625)	(3 363)	(3 320)	(3 058)	(2 404)	(2 531)
Total operating expenses		(18 962) (24 034) (23 401) (23 133) (22 057) (22 593)
Pre-tax operating profit before impairment	28 625	31 881	32 998	31 724	28 311	28 547
Net gains on fixed and intangible assets	2	(82)	767	1 703	529	738
Impairment of financial instruments	946	868	(9 918)	(2 191)	139	(2 428)
Pre-tax operating profit	29 573	32 667	23 847	31 235	28 979	26 858
Tax expense	(6 802)	(7 462)	(4 229)	(5 465)	(4 493)	(5 054)
Profit from operations held for sale, after taxes	143	150	221	(49)	(204)	(1)
Profit for the period	22 914	25 355	19 840	25 721	24 282	21 803
Portion attributable to shareholders	22 306	24 407	18 712	24 603	23 323	20 865
Portion attributable to non-controlling interests	73	26	(15)	(5)
Portion attributable to additional Tier 1 capital holders	536	922	1 143	1 123	959	938
Profit for the period	22 914	25 355	19 840	25 721	24 282	21 803
Earnings/diluted earnings per share (NOK)	14.39	15.74	12.04	15.54	14.56	12.84
Earnings per share excluding operations held for sale (NOK)	14.30	15.65	11.89	15.57	14.69	12.84

Average exchange rates in the period:

EUR/NOK	10.01	10.17	10.73	9.85	9.60	9.33
USD/NOK	9.43	8.59	9.42	8.80	8.14	8.27

1) See table 1.3.2 "Net gains on financial instruments at fair value" for specification.

2) See table 1.3.3 for details on Fremtind.

1.1.4 Comprehensive income statement

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Profit for the period	7 575	7 785	7 555	6 155	6 883	6 432	5 885	5 274	5 546
Actuarial gains and losses	118	118	414	(38)	0		(144)	(36)
Property revaluation	(12)	62	305	25	34	71	82	488	31
Items allocated to customers (life insurance)	(19)	(36)	(305)	(22)	(18)	(71)	(82)	(488)	(31)
Financial liabilities designated at fair value through profit or loss, changes in credit risk	58	67	89	30	33	(3)	(31)	(40)	(143)
Tax	(44)	(40)	(126)	4	(8)	1	44	18	36
Items that will not be reclassified to the income statement	102	172	377	(1)	41	(2)	(131)	(57)	(107)
Currency translation of foreign operations	3 289	5 707	(2 047)	(333)	9	1 120	(1 815)	(4 607)	60
Currency translation reserve reclassified to the income statement	0			6			(6)
Hedging of net investments	(2 832)	(4 890)	1 662	260	(108)	(864)	1 392	3 898	(135)
Financial assets at fair value through OCI	(258)	(321)	(373)	(103)	(27)	(70)	100	129	214
Tax	774	1 303	(324)	(42)	33	234	(373)	(1 007)	(20)
Items that may subsequently be reclassified to the income statement	972	1 799	(1 082)	(211)	(94)	420	(702)	(1 586)	119
Other comprehensive income for the period	1 074	1 972	(705)	(212)	(53)	418	(834)	(1 644)	12
Comprehensive income for the period	8 649	9 756	6 850	5 943	6 830	6 850	5 051	3 631	5 558

Full year figures

Amounts in NOK million	YTD 2022	2021	2020	2019	2018	2017
Profit for the period	22 914	25 355	19 840	25 721	24 282	21 803
Actuarial gains and losses	651	(183)	(324)	(3)	(117)	(93)
Property revaluation	356	212	578	278	(21)	(35)
Items allocated to customers (life insurance)	(361)	(193)	(578)	(278)	21	35
Financial liabilities designated at fair value through profit or loss, changes in credit risk	214	29	33	232	221
Tax	(209)	41	72	(63)	(18)	(10)
Items that will not be reclassified to the income statement	651	(93)	(218)	165	86	(104)
Currency translation of foreign operations	6 949	(1 018)	3 519	462	1 309	1 190
Currency translation reserve reclassified to the income statement	0	0			(2)	(1 306)
Hedging of net investments	(6 060)	680	(3 246)	(459)	(1 060)	(687)
Hedging reserve reclassified to the income statement	0				1	1 224
Financial assets at fair value through OCI	(952)	(101)	103	59
Investments according to the equity method						160
Tax	1 753	(148)	786	(208)	265	172
Tax reclassified to the income statement						(338)
Items that may subsequently be reclassified to the income statement	1 690	(587)	1 161	(147)	512	414
Other comprehensive income for the period	2 341	(681)	943	19	599	311
Comprehensive income for the period	25 255	24 674	20 783	25 740	24 881	22 113

1.1.5 Balance sheet - quarterly figures

Exchange rates at the end of the period
Total liabilities and equity	3 485 388	3 307 807	3 147 909	2 919 244	3 146 308	3 080 095	2 989 220	2 918 943	3 038 767
Total equity	251 011	239 123	244 481	243 912	252 497	245 548	240 020	248 396	245 110
Other equity	197 629	189 173	194 726	188 559	196 845	190 234	183 614	191 804	188 371
Share premium	18 733	18 733	18 733	18 733	18 733	22 609	22 609	22 609	22 609
Share capital	19 380	19 380	19 380	19 379	19 379	15 503	15 504	15 503	15 504
Non-controlling interests	421	399	325	266	404	270	155	119	46
Additional Tier 1 capital	14 849	11 438	11 317	16 974	17 136	16 932	18 139	18 362	18 581
Total liabilities	3 234 377	3 068 684	2 903 428	2 675 332	2 893 811	2 834 547	2 749 199	2 670 547	2 793 657
Subordinated loan capital	29 841	28 345	27 201	33 047	31 451	31 400	31 009	32 319	34 011
Senior non-preferred bonds	54 069	40 617	37 952	37 769	38 102	31 351	18 284	8 523
Pension commitments	4 383	4 538	4 643	5 073	4 969	4 891	4 731	4 476	4 373
Provisions	1 089	1 007	1 200	1 642	1 590	1 576	2 136	2 096	2 128
Liabilities held for sale	461	476	550	896	868	882	859	1 016	393
Other liabilities	47 735	53 275	56 745	39 718	48 178	42 385	49 729	31 522	41 673
Deferred taxes	1 720	1 624	1 634	1 571	40	11	42	48	54
Payable taxes	6 233	4 643	5 539	3 054	9 607	7 925	7 399	7 556	10 051
Liabilities to life insurance policyholders	191 565	193 449	196 931	199 379	199 414	199 986	200 373	200 422	200 018
Insurance liabilities, customers bearing the risk	128 365	130 260	137 361	138 747	131 703	129 966	122 659	116 729	105 817
Debt securities issued	788 949	778 553	765 485	702 759	806 029	755 002	800 460	777 829	901 557
Financial derivatives	279 309	211 668	137 429	114 348	129 813	117 961	127 603	174 979	161 991
Deposits from customers	1 470 882	1 393 381	1 321 825	1 247 719	1 233 576	1 230 931	1 171 527	1 105 574	1 099 817
Due to credit institutions	229 776	226 847	208 934	149 611	258 471	280 278	212 390	207 457	231 774
Liabilities and equity
Total assets	3 485 388	3 307 807	3 147 909	2 919 244	3 146 308	3 080 095	2 989 220	2 918 943	3 038 767
Other assets	40 994	50 528	46 179	30 423	34 644	34 569	35 714	21 852	30 753
Assets held for sale	1 822	2 072	2 218	2 245	2 471	2 456	2 399	2 402	1 185
Fixed assets	22 055	21 690	21 429	21 430	21 339	21 027	20 661	20 474	19 950
Deferred tax assets	768	723	613	649	4 151	4 253	4 305	4 377	1 101
Intangible assets	10 173	10 266	10 175	5 804	5 796	5 277	5 341	5 498	5 484
Investments accounted for by the equity method 1)	18 790	18 843	19 593	19 549	18 708	18 628	18 445	18 389	18 624
Investment properties	18 092	18 283	18 006	17 823	17 485	18 649	17 969	18 087	17 796
Financial derivatives	312 574	235 950	156 951	135 400	150 016	129 073	135 587	186 740	189 614
Financial assets, customers bearing the risk	128 365	130 260	137 361	138 747	131 703	129 966	122 659	116 729	105 817
Shareholdings	36 220	34 614	38 866	35 297	35 388	34 506	35 508	29 360	25 923
Commercial paper and bonds	427 356	430 426	409 938	425 267	416 658	408 819	425 078	439 231	434 815
Loans to customers	1 959 268	1 924 509	1 840 303	1 744 922	1 723 214	1 710 930	1 685 685	1 693 811	1 705 488
Due from credit institutions	67 039	47 012	63 084	44 959	52 670	48 269	56 424	78 466	114 909
Cash and deposits with central banks	441 873	382 631	383 193	296 727	532 067	513 674	423 444	283 526	367 307
Assets
Amounts in NOK million	2022	2022	2022	2021	2021	2021	2021	2020	2020
	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.

EUR/NOK	10.59	10.33	9.70	9.99	10.13	10.18	10.02	10.46	11.07
USD/NOK	10.84	9.92	8.74	8.82	8.75	8.57	8.54	8.52	9.46

1) See table 1.3.3 for details on Fremtind.

1.1.6 Balance sheet - full year figures

	31 Dec.	31 Dec.	31 Dec.	31 Dec.	31 Dec.
Amounts in NOK million	2021	2020	2019	2018	2017
Assets
Cash and deposits with central banks	296 727	283 526	304 746	155 592	151 595
Due from credit institutions	44 959	78 466	102 961	130 146	239 328
Loans to customers	1 744 922	1 693 811	1 667 189	1 597 758	1 545 415
Commercial paper and bonds	425 267	439 231	376 323	409 328	422 607
Shareholdings	35 297	29 360	36 247	39 802	28 220
Financial assets, customers bearing the risk	138 747	116 729	98 943	77 241	75 206
Financial derivatives	135 400	186 740	125 076	124 755	132 349
Investment properties	17 823	18 087	17 403	16 715	16 306
Investments accounted for by the equity method 1)	19 549	18 389	16 559	16 362	15 609
Intangible assets	5 804	5 498	5 454	5 455	5 600
Deferred tax assets	649	4 377	1 224	996	769
Fixed assets	21 430	20 474	19 098	9 240	8 704
Assets held for sale	2 245	2 402	1 274	5 044
Other assets	30 423	21 852	20 798	46 469	56 559
Total assets	2 919 244	2 918 943	2 793 294	2 634 903	2 698 268
Liabilities and equity
Due to credit institutions	149 611	207 457	202 782	188 063	224 107
Deposits from customers	1 247 719	1 105 574	969 557	927 092	971 137
Financial derivatives	114 348	174 979	115 682	110 116	110 262
Debt securities issued	702 759	777 829	870 170	801 918	780 247
Insurance liabilities, customers bearing the risk	138 747	116 729	98 943	77 241	75 206
Liabilities to life insurance policyholders	199 379	200 422	206 876	204 280	208 500
Non-life insurance liabilities					2 043
Payable taxes	3 054	7 556	10 710	2 461	4 599
Deferred taxes	1 571	48	48	4 216	2 574
Other liabilities	39 718	31 522	39 125	55 424	68 078
Liabilities held for sale	896	1 016	423	3 037
Provisions	1 642	2 096	1 726	2 536	1 812
Pension commitments	5 073	4 476	3 903	3 472	3 267
Senior non-preferred bonds	37 769	8 523
Subordinated loan capital	33 047	32 319	31 095	31 082	29 538
Total liabilities	2 675 332	2 670 547	2 551 038	2 410 937	2 481 371
Additional Tier 1 capital	16 974	18 362	26 729	16 194	16 159
Non-controlling interests	266	119	45
Share capital	19 379	15 503	15 706	15 944	16 180
Share premium	18 733	22 609	22 609	22 609	22 609
Other equity	188 559	191 804	177 167	169 220	161 948
Total equity	243 912	248 396	242 255	223 966	216 897
Total liabilities and equity	2 919 244	2 918 943	2 793 294	2 634 903	2 698 268
Exchange rates at the end of the period:

EUR/NOK	9.99	10.46	9.87	9.94	9.83
USD/NOK	8.82	8.52	8.79	8.68	8.20

1) See table 1.3.3 for details on Fremtind.

1.1.7 Key figures - quarterly figures

		3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
1	Interest rate analysis Combined weighted total average spreads for lending and deposits (%)	1.16	1.20	1.18	1.15	1.16	1.18	1.19	1.23	1.23
2	Average spreads for ordinary lending to customers (%)	1.25	1.67	1.69	1.79	1.97	2.05	1.95	2.02	2.08
3	Average spreads for deposits from customers (%)	1.05	0.58	0.50	0.30	0.11	0.02	0.13	0.08	(0.00)
4	Net interest margin (%)	1.50	1.48	1.46	1.42	1.36	1.36	1.37	1.39	1.38
5	Average NIBOR (%)	2.39	1.33	1.18	0.78	0.38	0.26	0.45	0.38	0.28
6	NIBOR at end of period (%)	2.94	1.68	1.32	0.95	0.58	0.20	0.38	0.49	0.28
	Rate of return/profitability
7	Cost/income ratio (%)	40.1	40.0	39.4	43.9	40.1	44.4	43.6	48.8	42.5
8	Return on equity, annualised (%)	12.7	13.3	12.9	10.3	11.4	11.1	10.0	8.9	9.5
9	RAROC, annualised (%)	11.9	14.6	11.7	9.9	10.7	8.8	8.5	5.7	9.9
10	Average equity attributable to shareholders, (NOK million)	230 430	230 090	229 858	226 216	231 748	224 364	230 498	227 901	221 950
	Financial strength at end of period
11	Common Equity Tier 1 capital ratio (%) 1)	18.1	18.0	18.1	19.4	19.2	19.1	19.2	18.7	18.9
12	Tier 1 capital ratio (%) 1)	19.3	18.9	19.0	21.0	20.8	20.3	20.6	20.1	20.3
13	Capital ratio (%) 1)	21.5	20.9	21.0	24.0	23.4	22.2	22.4	22.1	22.5
14	Leverage ratio (%) 1)	6.4	6.5	6.5	7.3	6.8	6.7	6.9	7.1	6.9
15	Loan portfolio and impairment Net loans at amortised cost and financial commitments in	8.58	8.35	8.03	8.30	9.28	9.38	9.66	10.51	13.36
16	stage 2, per cent of net loans at amortised cost Net loans at amortised cost and financial commitments in	1.32	1.43	1.39	1.55	1.63	1.54	1.64	1.55	1.83
17	stage 3, per cent of net loans at amortised cost Impairment relative to average net loans to customers at	0.03	0.05	0.14	(0.06)	0.05	0.20	0.03	(0.30)	(0.19)
	amortised cost, annualised (per cent)
Liquidity
18	Ratio of customer deposits to net loans to customers at end of period (%)	76.7	74.1	73.8	74.2	73.9	72.5	70.9	67.3	66.0
	Total assets owned or managed by DNB
19	Customer assets under management at end of period (NOK billion)	799	809	835	882	852	847	805	761	723
20	Total combined assets at end of period (NOK billion)	3 964	3 793	3 649	3 463	3 667	3 597	3 471	3 363	3 456
21	Average total assets (NOK billion)	3 487	3 475	3 381	3 404	3 367	3 322	3 245	3 230	3 232
Staff
22	Number of full-time positions at end of period		10 241 10 072	9 851	9 410	9 260	9 151	9 096	9 050	8 987
	Sustainability
23	Finance and facilitate sustainable activities (NOK billion, accumulated)	345.2	302.1	257.3	220.8	159.2	134.9	103.9	74.4	49.3
24	Total assets invested in mutual funds with a sustainability
	profile (NOK billion)	25.2	24.8	26.1	28.4	26.0	25.2	22.3	19.1
25	Score from Traction's reputation survey in Norway (points)	60	62	63	63	61	63	66
26	Customer satisfaction index, CSI, personal customers in
	Norway (score)	72.9	73.3	73.9	72.7	72.7	72.5	75.3	74.8	74.3
27	Female representation at management levels 1-4 (%)	38.1	38.4	39.8	39.8	39.0	38.0	37.6	39.5	38.6
	The DNB share
28	Number of issued shares at end of period (1 000) 2)	1 550 365	1 550 365	1 550 365	1 550 365	1 550 365	1 550 365	1 550 365	1 550 365	1 550 365
29	Number of outstanding shares at end of period (1 000) 2)	1 550 365	1 550 363	1 550 365	1 550 351	1 550 334	1 549 728	1 550 365	1 550 365	1 550 365
30	Average number of outstanding shares (1 000) 2)	1 550 274	1 550 364	1 550 364	1 550 360	1 550 282	1 550 153	1 550 365	1 550 365	1 550 365
31	Earnings per share (NOK)	4.77	4.91	4.71	3.79	4.29	4.01	3.65	3.28	3.41
32	Earnings per share excl. operations held for sale (NOK)	4.75	4.86	4.68	3.64	4.28	4.03	3.70	3.09	3.41
33	Dividend per share (NOK)	-	-	-	-	-	-	-	-	-
34	Total shareholder's return (%)	(2.1)	(7.8)	(0.9)	5.5	6.6	3.1	13.8	29.9	1.7
35	Dividend yield (%)	-	-	-	-	-	-	-	-	-
36	Book value per share incl. allocated dividend at end of period (NOK)	152.06	146.60	150.18	146.21	151.55	147.35	143.02	148.30	146.08
37	Share price at end of period (NOK)	172.85	176.55	200.10	202.00	199.95	187.60	182.00	168.00	129.30
38	Price/earnings ratio	9.06	8.99	10.63	13.33	11.64	11.71	12.45	12.81	9.47
39	Price/book value	1.14	1.20	1.33	1.38	1.32	1.27	1.27	1.13	0.89
40	Market capitalisation (NOK billion)	268.0	273.7	310.2	313.2	310.0	290.7	282.2	260.5	200.5

1) Including 50 per cent of profit for the period, except for the full year figures.

2) See 1.7.11 for information on share buy-back programmes.

For definitions of selected key figures, see table 1.1.9.

1.1.8 Key figures - full year figures

		YTD 2022	2021	2020	2019	2018	2017
1	Interest rate analysis Combined weighted total average spreads for lending and
	deposits (%)	1.18	1.17	1.27	1.33	1.30	1.30
2	Average spreads for ordinary lending to customers (%)	1.53	1.94	2.04	1.84	1.94	2.07
3	Average spreads for deposits from customers (%)	0.72	0.14	0.12	0.51	0.29	0.17
4	Net interest margin (%)	1.48	1.38	1.45	1.57	1.53	1.44
5	Average NIBOR (%)	1.63	0.47	0.70	1.55	1.06	0.89
6	NIBOR at end of period (%)	2.94	0.95	0.49	1.84	1.27	0.81
	Rate of return/profitability
7	Cost/income ratio (%)	39.8	43.0	41.5	42.2	43.8	44.2
8	Return on equity, annualised (%)	13.0	10.7	8.4	11.7	11.7	10.8
9	RAROC, annualised (%)	12.7	9.5	8.3	9.9	9.5	10.0
10	Average equity attributable to shareholders, (NOK
	million)	230 126	228 207	222 490	210 653	200 004	193 686
	Financial strength at end of period
11	Common Equity Tier 1 capital ratio (%) 1)	18.1	19.4	18.7	18.6	17.2	16.7
12	Tier 1 capital ratio (%) 1)	19.3	21.0	20.1	20.8	18.5	18.2
13	Capital ratio (%) 1)	21.5	24.0	22.1	22.9	20.8	20.3
14	Leverage ratio (%) 1)	6.4	7.3	7.1	7.4
15	Loan portfolio and impairment Net loans at amortised cost and financial commitments in
	stage 2, per cent of net loans at amortised cost 2)	8.58	8.30	10.51	6.88	7.14
16	Net loans at amortised cost and financial commitments in
	stage 3, per cent of net loans at amortised cost 2)	1.32	1.55	1.55	1.13	1.51	1.12
17	Impairment relative to average net loans to customers at
	amortised cost, annualised (per cent) 2)	0.07	0.05	(0.60)	(0.14)	0.01	(0.15)
Liquidity
18	Ratio of customer deposits to net loans to customers at end of
	period (%)	76.7	74.2	67.3	57.5	57.4	60.5
	Total assets owned or managed by DNB
19	Customer assets under management at end of period (NOK billion)	799	882	761	689	597	614
	Total combined assets at end of period (NOK billion)
20		3 964	3 463	3 363	3 177	2 951	3 026
21	Average total assets (NOK billion)	3 487	3 404	3 230	2 907	2 772	2 857
Staff
22	Number of full-time positions at end of period	10 241	9 410	9 050	9 020	9 196	9 144
	Sustainability
23	Finance and facilitate sustainable activities (NOK billion, accumulated)	345.2	220.8	74.4
24	Total assets invested in mutual funds with a sustainability
	profile (NOK billion)	25.2	28.4	19.1
25	Score from Traction's reputation survey in Norway (points)	60	63
26	Customer satisfaction index, CSI, personal customers in
	Norway (score)	73.4	73.3	73.6	72.8	74.7	69.5
27	Female representation at management levels 1-4 (%)	38.1	39.8	39.5	38.0	38.1	37.0
	The DNB share
28	Number of issued shares at end of period (1 000) 3)	1 550 365	1 550 365	1 550 365	1 580 301	1 604 367	1 628 799
29	Number of outstanding shares at end of period (1 000) 3)	1 550 365	1 550 351	1 550 365	1 570 586	1 594 352	1 618 049
30	Average number of outstanding shares (1 000) 3)	1 550 335	1 550 290	1 554 540	1 582 999	1 601 841	1 625 258
31	Earnings per share (NOK)	14.39	15.74	12.04	15.54	14.56	12.84
32	Earnings per share excl. operations held for sale (NOK)	14.30	15.65	11.89	15.57	14.69	12.84
33	Dividend per share (NOK)	-	9.75	9.00	8.40	8.25	7.10
34	Total shareholder's return (%)	(10.0)	31.8	2.4	25.2	(4.7)	23.5
35	Dividend yield (%)	5.64	4.83	5.36	5.12	5.97	4.67
36	Book value per share incl. allocated dividend at end of period
	(NOK)	152.06	146.21	148.30	137.20	130.32	124.06
37	Share price at end of period (NOK)	172.85	202.00	168.00	164.00	138.15	152.10
38	Price/earnings ratio	9.01	12.91	14.12	10.53	9.41	11.85
39	Price/book value	1.14	1.38	1.13	1.20	1.06	1.23
40	Market capitalisation (NOK billion)	268.0	313.2	260.5	257.6	220.3	246.1

1) Including 50 per cent of profit for the period, except for the full year figures.

2) Figures from 1 January 2020 are recognised excluding loans at fair value. Historical figures have been adjusted accordingly.

3) See 1.7.11 for information on share buy-back programmes.

For definitions of selected key figures, see table 1.1.9.

1.1.9 Key figures - definitions

1, 2, 3	Based on customer segments and nominal values and excluding impaired loans. Measured against the 3-month money market rate.
4	Based on net interest income relative to net loans to customers and deposits from customers
7	Total operating expenses relative to total income.
8	Return on equity represents the shareholders' share of profit for the period relative to average equity excluding additional Tier 1 capital and non-controlling interests.
9	RAROC (Risk-Adjusted Return On Capital) is defined as risk-adjusted profits (shareholders' share) relative to average equity excluding additional Tier 1 capital and non-controlling interests. Risk-adjusted profits indicate the level of profits in a normalised situation. Among other things, recorded impairment losses on loans are replaced by normalised losses.
15	Net loans at amortised cost and financial commitments in stage 2 divided by net loans to customers at amortised costs.
16	Net loans at amortised cost and financial commitments in stage 3 divided by net loans to customers at amortised costs. Comparable to previously reported figures under IAS 39.
17	Impairment relative to average net loans to customers at amortised cost, annualised (per cent).
19	Total assets under management for external clients in DNB Asset Management, DNB Livsforsikring and DNB Forsikring (until 31 December 2018).
20	Total assets and customer assets under management.
28	Number of issued shares.
29	Number of issued shares excluding DNB shares owned for trading purpose and as part of buy-back programmes.
31	The shareholders' share of profits relative to the average number of outstanding shares.
32	The shareholders' share of profits excluding profits from operations held for sale relative to the average number of outstanding shares.
34	Share price performance including the value of all re-invested dividends. The dividend is calculated re-invested as from the day the share is traded exclusive the right to the dividend (ex-dividend date).
36	The shareholders' share of equity, excluding additional Tier 1 capital and non-controlling interests, at end of period relative to the number of outstanding shares.
38	Closing price at end of period relative to annualised earnings per share.
39	Share price at end of period relative to book value per share.
40	Number of outstanding shares multiplied by the closing share price, at end of period.

1.2.1 Net interest income - split by segments

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Net interest income from loans to customers 1)	5 705	7 399	6 838	7 366	8 033	8 169	7 639	8 156	8 184
Personal customers	925	2 510	2 222	2 573	3 170	3 371	3 014	3 228	3 411
Corporate customers	4 757	4 793	4 562	4 726	4 782	4 696	4 557	4 856	4 789
Other	24	97	53	67	82	102	68	72	(16)
Net interest income on deposits from customers	3 731	1 920	1 538	944	330	63	353	230	16
Personal customers	2 597	1 315	1 021	628	158	(5)	177	112	(37)
Corporate customers	1 143	610	514	318	172	70	176	120	37
Other	(8)	(5)	2	(2)	(0)	(2)	0	(2)	16
Equity and non-interest bearing items	1 176	643	590	393	195	132	234	198	139
Personal customers 2)	256	127	107	61	15	8	40	48	40
Corporate customers 2)	486	236	191	108	26	12	74	89	57
Other	435	273	293	224	154	113	119	61	42
Other	1 640	1 564	1 480	1 583	1 207	1 044	1 003	894	959
Total net interest income	12 253	11 525	10 445	10 285	9 766	9 409	9 230	9 479	9 298

1.2.2 Average volumes - split by segments

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Loans to customers 3)	1 902 284	1 855 396	1 722 806	1 713 980	1 691 451	1 677 280	1 674 365	1 688 080	1 663 869
Personal customers	933 509	922 614	831 817	837 297	829 841	822 168	815 876	812 976	800 178
Corporate customers	871 579	833 422	793 278	776 719	770 209	759 058	758 031	779 070	771 015
Other	97 196	99 360	97 711	99 964	91 402	96 054	100 458	96 034	92 676
Deposits from customers 3)	1 439 768	1 359 902	1 325 139	1 353 417	1 320 219	1 273 971	1 220 460	1 170 016	1 131 372
Personal customers	590 025	578 928	497 193	489 685	489 890	476 717	463 929	460 470	460 593
Corporate customers	820 100	759 672	748 872	745 881	731 046	703 489	673 904	646 828	620 462
Other	29 642	21 302	79 073	117 851	99 283	93 764	82 628	62 718	50 317
Equity and non-interest bearing items	193 742	191 814	200 242	197 398	203 562	197 717	204 537	202 528	196 926
Personal customers 2)	58 168	56 876	49 104	48 549	48 124	47 330	47 399	48 547	49 566
Corporate customers 2)	109 210	105 386	101 856	98 917	99 420	96 190	100 268	103 165	103 872
Other	26 364	29 552	49 282	49 932	56 019	54 198	56 869	50 816	43 489

1.2.3 Interest rate spreads - split by segments 4)

Per cent	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Total lending - customer segments		1.67	1.69	1.79	1.97	2.05	1.95	2.02	2.08
Personal customers	0.39	1.09	1.08	1.22	1.52	1.64	1.50	1.58	1.70
Corporate customers	2.17	2.31	2.33	2.41	2.46	2.48	2.44	2.48	2.47
Total deposits - customer segments		0.58	0.50	0.30	0.11	0.02	0.13	0.08	(0.00)
Personal customers	1.75	0.91	0.83	0.51	0.13	(0.00)	0.15	0.10	(0.03)
Corporate customers	0.55	0.32	0.28	0.17	0.09	0.04	0.11	0.07	0.02
Combined spreads - customer segments - weighted total
average	1.16	1.20	1.18	1.15	1.16	1.18	1.19	1.23	1.23
Net interest margin		1.48	1.46	1.42	1.36	1.36	1.37	1.39	1.38

1) Excluding impaired loans.

2) Allocated capital.

3) Average nominal amount, excluding impaired loans.

4) Spreads are calculated based on money market rates and do not include additional funding costs related to liquidity measures.

1.2.4 Quarterly development in average interest rate spreads

1.2.5 Net interest income

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Interest on amounts due from credit institutions	2 078	444	(35)	(43)	(216)	(382)	(288)	(223)	(243)
Interest on loans to customers	15 936	13 163	11 159	10 424	9 738	9 612	9 607	9 900	9 719
Interest on impaired loans and guarantees	329	251	221	258	270	274	246	327	340
Interest on commercial paper and bonds	1 483	1 018	723	636	569	657	694	727	786
Front-end fees etc.	102	138	104	128	99	98	126	107	98
Other interest income	1 401	1 115	1 136	1 149	1 072	1 015	1 142	1 206	1 153
Total interest income	21 329	16 128	13 307	12 553	11 532	11 275	11 528	12 045	11 852
Interest on amounts due to credit institutions	(1 360)	(613)	(154)	(45)	1	(1)	(24)	(41)	(30)
Interest on deposits from customers	(3 773)	(1 681)	(1 017)	(723)	(529)	(537)	(612)	(640)	(667)
Interest on debt securities issued	(2 898)	(1 112)	(379)	(288)	(290)	(367)	(462)	(512)	(741)
Interest on subordinated loan capital	(150)	(106)	(103)	(83)	(84)	(81)	(87)	(99)	(112)
Contributions to the deposit guarantee and resolution funds 1)	(296)	(337)	(301)	(267)	(268)	(277)	(280)	(256)	(256)
Other interest expenses 2)	(600)	(755)	(907)	(862)	(596)	(603)	(833)	(1 018)	(748)
Total interest expenses	(9 076)	(4 603)	(2 861)	(2 268)	(1 766)	(1 865)	(2 298)	(2 566)	(2 554)
Net interest income	12 253	11 525	10 445	10 285	9 766	9 409	9 230	9 479	9 298

Full year figures

Amounts in NOK million	YTD 2022	2021	2020	2019	2018	2017
Interest on amounts due from credit institutions	2 487	(928)	156	3 468	3 935	2 713
Interest on loans to customers	40 258	39 381	45 185	52 555	45 112	44 447
Interest on impaired loans and guarantees	800	1 048	1 207	1 162	1 161	1 172
Interest on commercial paper and bonds	3 224	2 556	3 641	4 249	4 227	4 200
Front-end fees etc.	343	451	393	346	284	300
Other interest income	3 651	4 379	4 714	3 569	2 942	1 033
Total interest income	50 763	46 887	55 296	65 349	57 660	53 865
Interest on amounts due to credit institutions	(2 126)	(69)	(1 105)	(4 280)	(3 981)	(2 465)
Interest on deposits from customers	(6 471)	(2 402)	(5 249)	(9 888)	(8 146)	(7 519)
Interest on debt securities issued	(4 389)	(1 407)		(4 696) (10 171)	(7 409)	(6 002)
Interest on subordinated loan capital	(358)	(334)	(420)	(368)	(484)	(452)
Contributions to the deposit guarantee and resolution funds	(934)	(1 091)	(1 064)	(1 106)	(564)	(637)
Other interest expenses 2)	(2 262)	(2 895)	(4 139)	(334)	(253)	(1 367)
Total interest expenses	(16 540)				(8 197) (16 673) (26 147) (20 838) (18 442)
Net interest income	34 223	38 690	38 623	39 202	36 822	35 422

1) The amounts represent a proportional share of the estimated annual levy.

2) Other interest expenses include interest rate adjustments resulting from interest swaps.

1.2.6 Changes in net interest income

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Net interest income	12 253	11 525	10 445	10 285	9 766	9 409	9 230	9 479	9 298

Changes from previous quarters:	Changes from 2Q22	Changes from 1Q22	Changes from 4Q21	Changes from 3Q21	Changes from 2Q21	Changes from 1Q21	Changes from 4Q20	Changes from 3Q20
Lending volumes	157	450	40	90	35	55	(21)	98
Deposit volumes	73	131	2	(4)	6	8	2	(0)
Lending spreads	(1 930)	(81)	(405)	(703)	(313)	388	(230)	(209)
Deposit spreads	1 716	239	608	620	258	(299)	121	233
Exchange rate movements	77	76	9	(39)	73	(32)	(106)	(6)
Interest days	101	92	(179)		89	88	(159)
Long term funding	(51)	1	81	11	13	32	56	28
Amortisation effects and fees	(50)	87	(80)	135	71	(56)	(8)	27
Contributions to the deposit guarantee and resolution funds	41	(36)	(35)	1	9	3	(23)	(0)
Interest income on loans subject to impairment provisions	11	1	(47)	(19)	(5)	32	(82)	(11)
Other net interest income 1)	583	118	167	427	121	(39)	200	21
Total	728	1 079	160	519	357	180	(249)	181

1) Including interest on equity.

1.3.1 Net other operating income

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Money transfer and interbank transactions	602	499	434	403	378	308	317	302	352
Guarantee commissions	235	228	237	232	211	202	208	220	222
Asset management services	437	432	432	469	467	431	407	391	384
Credit broking	15	62	102	214	150	147	107	139	115
Corporate finance	339	342	496	610	181	584	451	372	237
Real estate broking	252	341	245	259	298	395	306	310	347
Custodial services	72	101	73	67	64	66	61	58	40
Securities broking	145	160	176	147	119	124	165	121	84
Sale of insurance products	601	643	595	610	624	642	606	577	588
Other income from banking services	44	22	53	37	(44)	(15)	5	5	2
Net commissions and fees	2 742	2 829	2 844	3 049	2 448	2 883	2 631	2 494	2 372
Net gains on financial instruments at fair value	706	1 624	1 562	704	1 585	532	799	184	819
Net financial result, life insurance	(40)	(175)	(98)	218	53	206	104	479	210
Net risk result, life insurance	123	73	130	(14)	94	22	108	(4)	90
Net financial and risk result, life insurance	83	(102)	32	203	147	228	212	474	299
Profit from investments accounted for by the equity method 2)	5	144	(15)	(6)	185	260	86	264	310
Net gains on investment properties	4	2	(4)	45	10	6	31	(8)	(20)
Other income	334	297	276	353	202	275	358	439	329
Other operating income	344	443	257	391	396	541	474	694	619
Net other operating income, total	3 875	4 794	4 695	4 348	4 577	4 184	4 116	3 847	4 109

Full year figures

Amounts in NOK million	YTD 2022	2021	2020	2019	2018	2017
Money transfer and interbank transactions	1 535	1 406	1 341	1 790	1 861	1 810
Guarantee commissions 1)	699	853	900	821	809
Asset management services	1 301	1 773	1 480	1 323	1 367	1 298
Credit broking	179	618	358	467	576	440
Corporate finance	1 178	1 827	1 164	1 133	598	684
Real estate broking	838	1 258	1 272	1 203	1 143	1 150
Custodial services	245	257	180	157	146	165
Securities broking	482	555	467	380	625	637
Sale of insurance products	1 838	2 482	2 323	2 304	2 042	2 049
Other income from banking services	119	(17)	15	138	141	214
Net commissions and fees	8 415	11 011	9 500	9 716	9 310	8 448
Net gains on financial instruments at fair value 1)	3 892	3 621	5 902	3 183	1 342	4 548
Net financial result, life insurance	(313)	581	418	696	574	804
Net risk result, life insurance	327	210	241	433	395	491
Net financial and risk result, life insurance	14	790	659	1 129	969	1 295
Net premium income/insurance claims, non-life insurance					622	683
Profit from investments accounted for by the equity method 2)	134	524	402	410	314	(112)
Net gains on investment properties	2	91	(61)	92	62	143
Other income	908	1 188	1 373	1 126	926	713
Other operating income	1 044	1 803	1 714	1 628	1 302	744
Net other operating income, total	13 365	17 225	17 776	15 655	13 546	15 718

1) With effect from January 2018 guarantee commissions were reclassified to Net commissions and fees from Net gains on financial instruments at

fair value.

2) See table 1.3.3 for details on Fremtind.

1.3.2 Net gains on financial instruments at fair value

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Customer revenues in DNB Markets	712	680	626	653	558	515	502	559	546
Trading revenues in DNB Markets (excl. CVA/DVA/FVA and credit
spreads effects) 1)	86	132	386	2	81	30	69	32	55
Hedging of defined-benefit pension scheme	(58)	(141)	(28)	76	9	67	66	101	41
Credit spreads on bonds	(41)	(78)	(144)	(75)	86	18	153	92	211
Credit spreads on fixed-rate loans	(61)	(253)	(285)	(67)	47	14	81	84	133
CVA/DVA/FVA	(107)	(19)	48	1	(9)	30	241	238	138
Other mark-to-market adjustments	(978)	(120)	469	(110)	392	12	2	738	448
Basis swaps	369	428	629	100	147	(212)	(345)	(152)	(363)
Exchange rate effects on additional Tier 1 capital	783	997	(138)	125	274	59	29	(1 508)	(391)
Net gains on financial instruments at fair value	706	1 624	1 562	704	1 585	532	799	184	819

Full year figures

Amounts in NOK million	YTD 2022	2021	2020	2019	2018	2017
Customer revenues in DNB Markets	2 018	2 228	2 354	2 172	2 004	2 348
Trading revenues in DNB Markets (excl. CVA/DVA/FVA and credit
spreads effects) 1)	604	182	319	388	497	1 963
Hedging of defined-benefit pension scheme	(227)	219	37
Credit spreads on bonds	(264)	182	(13)	445	78	723
Credit spreads on fixed-rate loans	(600)	74	(20)	185	(9)	297
Financial guarantees 2)						907
CVA/DVA/FVA	(78)	262	(65)	74	236	270
Other mark-to-market adjustments	(629)	296	1 910	(207)	(827)	(671)
Basis swaps	1 427	(310)	526	270	(1 358)	(672)
Exchange rate effects on additional Tier 1 capital	1 641	487	855	(143)	721	(616)
Net gains on financial instruments at fair value	3 892	3 621	5 902	3 183	1 342	4 548

1) CVA: Credit valuation adjustment. DVA: Debit valuation adjustment. FVA: Funding valuation adjustment.

2) With effect from January 2018 guarantee commissions were reclassified to Net commissions and fees from Net gains on financial instruments at fair value.

1.3.3 Profit from investments accounted for by the equity method – Fremtind

DNB Group's share of Fremtind's financial results 1)

		Income statement
--	--	------------------

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21
Income	3 681	3 549	3 477	3 478	3 411	3 344	3 281
Profit after tax	337	171	79	549	559	811	466
Share of profit after tax	118	60	28	192	196	284	163
Depreciation and impairment of value adjustments after tax	(61)	(61)	(61)	(61)	(61)	(61)	(61)
Other adjustments	(76)	76	(14)	0	(15)	(0)	(0)
The Group's share of profit after tax 2)	(19)	75	(47)	131	120	223	102

Balance sheet

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March
Amounts in NOK million	2022	2022	2022	2021	2021	2021	2021
The Group's share of equity, including unpaid dividends	3 187	3 069	3 798	3 771	3 590	3 394	3 401
Goodwill	1 467	1 467	1 467	1 467	1 467	1 467	1 419
Value adjustments after tax	1 494	1 555	1 616	1 676	1 737	1 798	1 858
Eliminations	(18)	89	0	14	0	(1)	7
Carrying amount	6 131	6 181	6 881	6 929	6 794	6 658	6 685

1) Represents DNB Bank ASA's ownership share in Fremtind Forsikring AS (Fremtind) of 35 per cent.

2) DNB Group's share of Fremtind's results for 2Q22 was based on estimates.

Financial performance – Fremtind

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21
Insurance premium	3 681	3 549	3 477	3 478	3 411	3 344	3 281
Claims	(2 268)	(2 095)	(2 438)	(2 094)	(1 950)	(1 656)	(2 091)
Operational cost	(887)	(893)	(848)	(879)	(802)	(825)	(794)
Other operational income/cost	(22)	(100)	(29)	(56)	31	(12)	71
Operational profit	504	462	162	449	690	851	467
Other income/cost	(1)	(2)	(12)	12	(1)	(0)	(0)
Financial results	(51)	(232)	(38)	217	52	192	158
Pre-tax operating profit	452	227	111	677	741	1 043	624
Tax expense	(115)	(56)	(32)	(128)	(181)	(232)	(158)
Profit after tax	337	171	79	549	559	811	466
Run-off claims	(32)	33	27	(9)	43	98	51
Claims ratio (%)	61.6	59.0	70.1	60.2	57.2	49.5	63.7
Cost/income ratio (%)	24.1	25.1	24.4	25.3	23.5	24.7	24.2
Combined ratio (%)	85.7	84.2	94.5	85.5	80.7	74.2	87.9
Book equity at end of period, including unpaid dividends	9 106	8 769	10 851	10 773	10 256	9 697	9 717
Return on equity, annualised (%)	15.1	7.8	2.9	23.8	22.4	35.1	19.2
Return on financial portfolio (%) 1)	(0.2)	(1.2)	(0.4)	1.2	0.5	1.1	1.0
Solvency II ratio at end of period (%) 2)	218	205	207	261	245	245	233

1) Value adjusted.

2) Preliminary ratio.

1.4.1 Operating expenses

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Salaries	(2 691)	(2 673)	(2 440)	(2 600)	(2 341)	(2 362)	(2 251)	(2 418)	(2 288)
Employer's national insurance contributions	(484)	(471)	(451)	(463)	(432)	(428)	(419)	(432)	(399)
Pension expenses	(286)	(334)	(284)	(403)	(343)	(482)	(403)	(452)	(421)
Restructuring expenses	(8)	(1)	1	(20)	(1)	(37)	(83)	(52)	(2)
Other personnel expenses	(156)	(148)	(171)	(220)	(185)	(170)	(180)	(185)	(165)
Total salaries and other personnel expenses	(3 625)	(3 627)	(3 344)	(3 706)	(3 302)	(3 480)	(3 337)	(3 540)	(3 275)
Fees	(181)	(198)	(164)	(264)	(135)	(132)	(108)	(170)	(128)
IT expenses	(1 080)	(1 079)	(1 049)	(968)	(924)	(1 044)	(987)	(992)	(924)
Postage and telecommunications	(37)	(46)	(35)	(37)	(31)	(28)	(37)	(36)	(35)
Office supplies	(4)	(9)	(9)	(17)	(5)	(6)	(12)	(9)	(5)
Marketing and public relations	(191)	(244)	(178)	(189)	(161)	(164)	(160)	(183)	(166)
Travel expenses	(41)	(42)	(12)	(38)	(10)	(5)	(2)	(12)	(9)
Reimbursement to Norway Post for transactions executed	(0)	(0)		(0)		(0)		(0)	0
Training expenses	(13)	(11)	(16)	(24)	(10)	(11)	(8)	(13)	(8)
Operating expenses on properties and premises	(110)	(98)	(92)	(108)	(97)	(110)	(94)	(81)	(115)
Operating expenses on machinery, vehicles and office
equipment	(7)	(8)	(8)	(15)	(12)	(14)	(17)	(13)	(13)
Other operating expenses	(281)	(287)	(211)	(197)	(221)	(208)	(232)	(579)	(180)
Total other expenses	(1 947)	(2 022)	(1 772)	(1 856)	(1 608)	(1 724)	(1 658)	(2 086)	(1 583)
Impairment losses for goodwill				(7)				(10)
Depreciation and impairment of fixed and intangible assets	(901)	(874)	(850)	(858)	(842)	(835)	(822)	(874)	(843)
Total depreciation and impairment of fixed and intangible assets	(901)	(874)	(850)	(865)	(842)	(835)	(822)	(884)	(843)
Total operating expenses	(6 473)	(6 524)	(5 966)	(6 427)	(5 752)	(6 038)	(5 817)	(6 509)	(5 702)

Full year figures

Amounts in NOK million	YTD 2022	2021	2020	2019	2018	2017
Salaries	(7 804)	(9 555)	(9 022)	(8 597)	(8 322)	(8 316)
Employer's national insurance contributions	(1 405)	(1 743)	(1 590)	(1 551)	(1 504)	(1 546)
Pension expenses	(904)	(1 631)	(1 467)	(1 610)	(1 262)	(1 347)
Restructuring expenses	(8)	(142)	(81)	(69)	(123)	(346)
Other personnel expenses	(475)	(755)	(714)	(776)	(654)	(629)
Total salaries and other personnel expenses					(10 596) (13 826) (12 873) (12 603) (11 864) (12 184)
Fees	(543)	(640)	(540)	(593)	(660)	(559)
IT expenses	(3 208)	(3 923)	(3 807)	(3 886)	(3 775)	(3 593)
Postage and telecommunications	(118)	(132)	(148)	(151)	(173)	(209)
Office supplies	(22)	(40)	(29)	(30)	(43)	(62)
Marketing and public relations	(613)	(675)	(693)	(821)	(749)	(810)
Travel expenses	(96)	(55)	(73)	(266)	(261)	(284)
Reimbursement to Norway Post for transactions executed	(0)	(0)	(117)	(171)	(179)	(183)
Training expenses	(40)	(53)	(42)	(61)	(66)	(65)
Operating expenses on properties and premises	(300)	(409)	(415)	(429)	(1 096)	(1 174)
Operating expenses on machinery, vehicles and office
equipment	(23)	(59)	(59)	(69)	(71)	(82)
Other operating expenses	(778)	(858)	(1 286)	(995)	(716)	(857)
Total other expenses	(5 741)	(6 845)	(7 208)	(7 472)	(7 789)	(7 878)
Impairment losses for goodwill 1)		(7)	(10)		(0)	(545)
Depreciation and impairment of fixed and intangible assets	(2 625)	(3 356)	(3 310)	(3 058)	(2 404)	(1 986)
Total depreciation and impairment of fixed and intangible assets	(2 625)	(3 363)	(3 320)	(3 058)	(2 404)	(2 531)
Total operating expenses					(18 962) (24 034) (23 401) (23 133) (22 057) (22 593)

1) Impairment losses for goodwill of NOK 502 million relating to Cresco were recorded in the fourth quarter of 2017.

1.4.2 Full-time positions based on the operational structure

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Full-time positions	2022	2022	2022	2021	2021	2021	2021	2020	2020
Total ordinary operations *)	10 241	10 072	9 851	9 410	9 260	9 151	9 096	9 050	8 987

*) Of which:
Personal Banking	3 113
Corporate Banking	2 286
Technology & Services	1 729
Markets	815
Wealth Management	778
Products & Innovation	599
Group Finance	395
Group Risk Management	149
People	151
Other entities	228

1.4.3 IT expenses

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Software and licenses	(313)	(322)	(357)	(296)	(280)	(189)	(470)	(308)	(269)
IT consultants	(306)	(522)	(492)	(549)	(535)	(649)	(595)	(592)	(576)
Leasing	8	8	8	8	8	8	8	8	8
Other IT expenses	(470)	(243)	(207)	(130)	(117)	(214)	70	(100)	(87)
IT expenses	(1 080)	(1 079)	(1 049)	(968)	(924)	(1 044)	(987)	(992)	(924)
Depreciation	(146)	(137)	(129)	(140)	(135)	(156)	(144)	(215)	(162)
Impairment	1	3			2	(2)		28	(10)
Depreciation and impairment	(145)	(134)	(129)	(140)	(133)	(159)	(144)	(186)	(172)
Total IT expenses	(1 225)	(1 214)	(1 178)	(1 108)	(1 057)	(1 203)	(1 131)	(1 178)	(1 096)
Capitalised systems development expenses	1 173	1 263	1 222	1 206	1 165	888	972	1 088	1 037

The figures do not include salaries and indirect expenses.

• 24 -

1.5.1 Loans and financial commitments to customers by industry segment

Maximum exposure is the gross carrying amount of loans to customers plus off-balance exposure, which mainly includes guarantees, unutilised credit lines and loan offers.

As at 30 September 2022

	Maximum exposure					Net
Amounts in NOK million	Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total	Total
Bank, insurance and portfolio management	120 865	3 845	163	124 874	(23)	(17)	(64)		(104) 124 769
Commercial real estate	248 797	16 554	1 032	266 383	(118)	(31)	(187)		(336) 266 047
Shipping	52 624	2 338	328	55 291	(37)	(2)	(206)	(246)	55 045
Oil, gas and offshore	88 041	13 726	15 661	117 427	(112)	(187)	(2 650)		(2 950) 114 477
Power and renewables	96 264	4 955	1 261	102 480	(33)	(11)	(668)		(711) 101 768
Healthcare	56 752	1 296	0	58 047	(16)	(3)		(19)	58 028
Public sector	16 020	58	1	16 079	(0)	(0)	(0)	(0)	16 079
Fishing, fish farming and farming	83 477	4 187	416	88 081	(17)	(30)	(139)	(186)	87 895
Retail industries	74 213	7 428	1 320	82 961	(53)	(38)	(229)	(320)	82 641
Manufacturing	84 764	7 161	214	92 139	(41)	(41)	(72)	(154)	91 985
Technology, media and telecom	47 253	1 499	77	48 829	(15)	(10)	(19)	(44)	48 785
Services	92 647	10 259	1 067	103 973	(82)	(113)	(362)		(557) 103 416
Residential property	153 581	6 498	626	160 706	(61)	(25)	(153)		(239) 160 467
Personal customers	1 199 538	53 058	4 432	1 257 027	(161)	(271)	(648)		(1 080) 1 255 948
Other corporate customers	76 230	32 363	5 025	113 619	(62)	(259)	(1 098)		(1 419) 112 200
Total	2 491 066	165 224	31 625	2 687 915	(833)	(1 038)	(6 495)		(8 365) 2 679 551

Stage 1 - loans and financial commitments to customers by industry segment

	Maximum exposure					Accumulated impairment
	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.
Amounts in NOK million	2022	2022	2022	2021	2022	2022	2022	2021
Bank, insurance and portfolio management	120 865	117 630	123 136	109 680	(23)	(22)	(21)	(18)
Commercial real estate	248 797	244 241	237 205	231 477	(118)	(110)	(116)	(115)
Shipping	52 624	45 769	40 559	42 494	(37)	(52)	(61)	(48)
Oil, gas and offshore	88 041	79 378	71 682	71 173	(112)	(89)	(104)	(96)
Power and renewables	96 264	88 129	80 267	84 359	(33)	(23)	(37)	(43)
Healthcare	56 752	55 149	46 097	46 915	(16)	(10)	(11)	(10)
Public sector	16 020	13 574	14 183	19 102	(0)	(1)	(3)	(3)
Fishing, fish farming and farming	83 477	79 898	72 219	70 226	(17)	(18)	(56)	(50)
Retail industries	74 213	68 778	66 060	66 146	(53)	(49)	(46)	(44)
Manufacturing	84 764	83 392	78 477	86 001	(41)	(38)	(38)	(39)
Technology, media and telecom	47 253	45 720	46 404	42 421	(15)	(10)	(14)	(19)
Services	92 647	93 605	94 844	92 512	(82)	(66)	(75)	(71)
Residential property	153 581	148 477	143 701	139 046	(61)	(57)	(54)	(49)
Personal customers	1 199 538	1 211 579	1 201 792	1 089 705	(161)	(121)	(70)	(77)
Other corporate customers	76 230	76 235	75 970	77 364	(62)	(58)	(54)	(63)
Total	2 491 066	2 451 553	2 392 596	2 268 620	(833)	(723)	(759)	(743)

1.5.1 Loans and financial commitments to customers by industry segment (continued)

Stage 2 - loans and financial commitments to customers by industry segment

		Maximum exposure			Accumulated impairment
	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.
Amounts in NOK million	2022	2022	2022	2021	2022	2022	2022	2021
Bank, insurance and portfolio management	3 845	3 898	2 053	2 522	(17)	(17)	(21)	(13)
Commercial real estate	16 554	15 578	16 872	15 433	(31)	(30)	(44)	(46)
Shipping	2 338	6 010	5 441	5 535	(2)	(24)	(41)	(43)
Oil, gas and offshore	13 726	14 808	20 016	25 680	(187)	(253)	(251)	(341)
Power and renewables	4 955	5 495	1 921	1 692	(11)	(12)	(3)	(4)
Healthcare	1 296	4	8	9	(3)	(0)	(0)	(0)
Public sector	58	10	10	19	(0)	(0)	(0)	(0)
Fishing, fish farming and farming	4 187	3 550	6 574	9 364	(30)	(31)	(34)	(49)
Retail industries	7 428	7 096	4 774	5 362	(38)	(36)	(31)	(31)
Manufacturing	7 161	6 473	4 030	4 197	(41)	(34)	(25)	(33)
Technology, media and telecom	1 499	1 116	1 090	1 320	(10)	(5)	(7)	(8)
Services	10 259	10 756	8 433	10 307	(113)	(97)	(91)	(92)
Residential property	6 498	7 325	7 731	5 173	(25)	(20)	(21)	(16)
Personal customers	53 058	46 308	40 568	31 468	(271)	(240)	(195)	(134)
Other corporate customers	32 363	29 041	25 080	24 073	(259)	(249)	(264)	(268)
Total	165 224	157 469	144 602	142 154	(1 038)	(1 049)	(1 027)	(1 078)

Stage 3 - loans and financial commitments to customers by industry segment

		Maximum exposure			Accumulated impairment
	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.
Amounts in NOK million	2022	2022	2022	2021	2022	2022	2022	2021
Bank, insurance and portfolio management	163	1 051	589	646	(64)	(62)	(56)	(100)
Commercial real estate	1 032	1 104	1 118	1 197	(187)	(200)	(220)	(257)
Shipping	328	310	276	414	(206)	(188)	(168)	(167)
Oil, gas and offshore	15 661	15 085	14 155	17 155	(2 650)	(3 395)	(3 648)	(5 415)
Power and renewables	1 261	1 180	1 660	1 685	(668)	(566)	(515)	(505)
Healthcare	0	0	0	0
Public sector	1	0	0	3	(0)	(0)	(0)	(0)
Fishing, fish farming and farming	416	390	425	484	(139)	(132)	(113)	(120)
Retail industries	1 320	1 273	1 402	2 250	(229)	(203)	(232)	(322)
Manufacturing	214	215	1 431	374	(72)	(76)	(112)	(92)
Technology, media and telecom	77	72	84	95	(19)	(20)	(20)	(24)
Services	1 067	1 487	976	1 297	(362)	(385)	(356)	(664)
Residential property	626	554	553	569	(153)	(150)	(163)	(151)
Personal customers	4 432	4 726	4 729	4 033	(648)	(630)	(635)	(335)
Other corporate customers	5 025	6 780	5 017	5 579	(1 098)	(1 532)	(1 381)	(1 218)
Total	31 625	34 227	32 414	35 783	(6 495)	(7 539)	(7 618)	(9 369)

1.5.2 Development in maximum exposure of loans and financial commitments to customers

Maximum exposure is the gross carrying amount of loans to customers plus off-balance exposure, which mainly includes guarantees, unutilised credit lines and loan offers.

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Maximum exposure at beginning of period	2 643 248	2 569 612	2 446 557	2 418 090	2 399 864	2 348 697	2 352 394	2 377 423	2 356 394
Originated and purchased	214 788	250 856	231 076	239 007	251 771	262 535	200 869	244 291	230 942
Derecognition								(184 930) (201 673) (206 909) (207 968) (233 005) (217 485) (193 502) (252 290) (210 555)
Acquisition of Sbanken			109 825
Exchange rate movements	14 811	24 453	(10 937)	(2 573)	(538)	6 116	(11 064)	(17 031)	641
Other
Maximum exposure at end of period	2 687 915	2 643 248	2 569 612	2 446 557	2 418 090	2 399 864	2 348 697	2 352 394	2 377 423

Stage 1 - development in maximum exposure of loans and financial commitments to customers

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Maximum exposure at beginning of period	2 451 553	2 392 596	2 268 620	2 223 397	2 206 175	2 149 879	2 140 422	2 109 922	2 104 030
Transfer into Stage 1	27 761	38 314	24 486	39 371	23 830	18 060	48 985	55 077	48 515
Transfer to Stage 2	(40 227)	(52 388)	(37 628)	(37 972)	(31 719)	(29 334)	(44 121)	(33 630)	(75 985)
Transfer to Stage 3	(824)	(700)	(490)	(1 068)	(925)	(280)	(1 594)	(406)	(488)
Originated and purchased	211 042	245 653	230 078	236 978	250 714	259 309	195 675	242 771	223 051
Derecognition							(171 987) (194 091) (188 129) (189 679) (224 060) (197 030) (179 191) (218 380) (189 669)
Acquisition of Sbanken			105 690
Exchange rate movements	13 749	22 168	(10 030)	(2 405)	(618)	5 569	(10 299)	(14 931)	466
Other
Maximum exposure at end of period	2 491 066	2 451 553	2 392 596	2 268 620	2 223 397	2 206 175	2 149 879	2 140 422	2 109 922

Stage 2 - development in maximum exposure of loans and financial commitments to customers

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Maximum exposure at beginning of period	157 469	144 602	142 154	156 559	157 110	159 451	173 928	222 620	208 556
Transfer to Stage 1	(25 926)	(36 789)	(23 211)	(38 208)	(23 484)	(16 691)	(48 926)	(54 615)	(48 291)
Transfer into Stage 2	41 571	52 722	38 423	39 055	31 923	30 917	44 335	34 367	77 327
Transfer to Stage 3	(1 541)	(678)	(1 186)	(945)	(1 584)	(3 320)	(2 424)	(2 434)	(5 806)
Originated and purchased	1 514	5 203		998	1 616	3 197	3 912	1 519	7 890
Derecognition	(8 813)	(9 718)	(14 064)	(15 131)	(9 061)	(16 976)	(10 663)	(25 905)	(17 224)
Acquisition of Sbanken			3 309
Exchange rate movements	950	2 126	(821)	(173)	38	532	(709)	(1 625)	169
Other
Maximum exposure at end of period	165 224	157 469	144 602	142 154	156 559	157 110	159 451	173 928	222 620

Stage 3 - development in maximum exposure of loans and financial commitments to customers

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Maximum exposure at beginning of period	34 227	32 414	35 783	38 135	36 579	39 367	38 044	44 881	43 808
Transfer to Stage 1	(1 835)	(1 525)	(1 274)	(1 163)	(347)	(1 370)	(59)	(462)	(224)
Transfer to Stage 2	(1 344)	(335)	(795)	(1 083)	(205)	(1 583)	(214)	(737)	(1 341)
Transfer into Stage 3	2 365	1 378	1 676	2 014	2 509	3 599	4 018	2 840	6 294
Originated and purchased	2 231		999	1 032	(560)	29	1 282		0
Derecognition	(4 130)	2 136	(4 715)	(3 157)	116	(3 479)	(3 648)	(8 005)	(3 662)
Acquisition of Sbanken			826
Exchange rate movements	111	158	(85)	6	42	15	(56)	(475)	5
Other
Maximum exposure at end of period	31 625	34 227	32 414	35 783	38 135	36 579	39 367	38 044	44 881

1.5.3 Development in accumulated impairment of loans and financial commitments to customers

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Accumulated impairment at beginning of period	(9 311)	(9 404)	(11 191)	(12 896)	(13 273)	(15 247)	(15 469)	(18 136)	(18 152)
Originated and purchased	(184)	(98)	(145)	(140)	(117)	(189)	(212)	(278)	(197)
Increased expected credit loss	(1 283)	(1 291)	(1 014)	(1 433)	(1 062)	(1 343)	(2 220)	(3 082)	(3 492)
Decreased (reversed) expected credit loss	886	1 179	1 661	1 200	1 164	2 270	2 293	2 797	3 015
Write-offs	987	364	1 462	1 887	239	956	109	2 859	561
Derecognition (including repayments)	558	57	119	193	163	300	227	202	134
Acquisition of Sbanken			(333)
Exchange rate movements	(19)	(118)	38	(2)	(11)	(20)	24	170	(6)
Other	(1)
Accumulated impairment at end of period	(8 365)	(9 311)	(9 404)	(11 191)	(12 896)	(13 273)	(15 247)	(15 469)	(18 136)

Stage 1 - development in accumulated impairment of loans and financial commitments to customers

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Accumulated impairment at beginning of period	(723)	(759)	(743)	(720)	(804)	(809)	(1 049)	(1 129)	(1 530)
Changes due to significant change in credit risk	(83)	(47)	(80)	(115)	(66)	(27)	(34)	(133)	(238)
Originated and purchased	(72)	(78)	(126)	(128)	(103)	(159)	(115)	(209)	(93)
Increased expected credit loss	(182)	(98)	(76)	(123)	(74)	(86)	(160)	(63)	(160)
Decreased (reversed) expected credit loss	172	271	244	248	306	217	515	440	891
Write-offs
Derecognition (including repayments)	65		28	93	20	64	26	25	2
Acquisition of Sbanken			(11)
Exchange rate movements	(9)	(11)	5	1	1	(4)	8	19	(2)
Other
Accumulated impairment at end of period	(833)	(723)	(759)	(743)	(720)	(804)	(809)	(1 049)	(1 129)

Stage 2 - development in accumulated impairment of loans and financial commitments to customers

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Accumulated impairment at beginning of period	(1 049)	(1 027)	(1 078)	(1 273)	(1 501)	(1 800)	(1 780)	(2 296)	(2 894)
Changes due to significant change in credit risk	79	47	84	106	79	72	46	204	291
Originated and purchased	(108)	(20)	(19)	(12)	(14)	(29)	(96)	(69)	(105)
Increased expected credit loss	(314)	(274)	(161)	(189)	(202)	(241)	(629)	(314)	(443)
Decreased (reversed) expected credit loss	158	199	110	169	261	315	468	496	744
Write-offs
Derecognition (including repayments)	211	59	76	120	107	188	185	166	113
Acquisition of Sbanken			(46)
Exchange rate movements	(17)	(34)	6		(3)	(6)	6	33	(2)
Other									(0)
Accumulated impairment at end of period	(1 038)	(1 049)	(1 027)	(1 078)	(1 273)	(1 501)	(1 800)	(1 780)	(2 296)

Stage 3 - development in accumulated impairment of loans and financial commitments to customers

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Accumulated impairment at beginning of period	(7 539)	(7 618)	(9 369)	(10 903)	(10 968)	(12 638)	(12 640)	(14 711)	(13 728)
Changes due to significant change in credit risk	4		(5)	9	(13)	(45)	(12)	(71)	(53)
Originated and purchased	(2)
Increased expected credit loss	(787)	(920)	(778)	(1 121)	(786)	(1 016)	(1 431)	(2 704)	(2 889)
Decreased (reversed) expected credit loss	556	708	1 306	783	597	1 737	1 310	1 860	1 379
Write-offs	987	364	1 462	1 887	239	956	109	2 859	561
Derecognition (including repayments)	282	(2)	15	(21)	36	47	17	11	20
Acquisition of Sbanken			(276)
Exchange rate movements	7	(72)	26	(4)	(8)	(10)	10	117	(2)
Other
Accumulated impairment at end of period	(6 495)	(7 539)	(7 618)	(9 369)	(10 903)	(10 968)	(12 638)	(12 640)	(14 711)

1.5.4 Stage 3 - development in net loans at amortised cost and financial commitments to customers

Net loans at amortised cost and financial commitments in stage 3, as a percentage of net loans at amortised cost

Net loans at amortised cost and financial commitments in stage 3, as a percentage of net loans at amortised cost and financial commitments

1.5.5 Impairment of financial instruments

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Personal customers	(136)	(94)	(36)	(64)	(26)	39	(24)	139	360
Commercial real estate	(0)	26	12	(7)	35	7	46	(41)	24
Shipping	43	30	(12)	65	101	81	155	(36)	32
Oil, gas and offshore	333	313	760	133	90	(26)	127	(1 340)	(1 037)
Other industry segments	(93)	(65)	(134)	(402)	0	733	(193)	28	(156)
Total	148	209	589	(275)	200	833	110	(1 250)	(776)

X10AO

1.6.1 Credit portfolio

Exposure at default by industry segment

Exposure at default, EAD, is the share of the approved credit that is expected to be drawn at the time of any future default at the same time as there is a downturn in the market.

The following tables show the exposure at default in DNB's customer segments and exclude central banks, equity positions and exposure in associated companies. EAD is based on the internal monitoring of credit risk where all exposures are measured with internal models. Sbanken has been included in the figures as of 30 June 2022.

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK billion	2022	2022	2022	2021	2021	2021	2021	2020	2020
Bank, insurance and portfolio management	62.9	60.4	58.1	49.1	53.3	54.1	45.3	49.2	58.1
Commercial real estate 1)	230.7	224.3	218.8	209.5	207.6	207.2	203.3	202.1	195.9
Shipping 1)	52.3	49.2	42.4	44.5	46.7	44.2	47.4	50.1	56.6
Oil, gas and offshore 1)	135.1	124.7	102.1	91.3	93.0	77.7	75.5	78.4	92.5
Power and renewables	82.6	73.9	59.3	60.2	53.4	52.3	50.9	50.8	52.9
Healthcare	47.5	44.7	34.7	32.3	27.2	28.1	30.3	32.4	36.6
Public sector	8.4	8.1	9.5	10.1	10.4	9.2	10.1	11.8	13.1
Fishing, fish farming and farming	75.9	71.7	65.6	66.3	62.9	58.8	58.3	59.0	59.6
Retail industries	62.6	62.5	54.0	55.3	55.2	53.6	52.2	51.3	51.4
Manufacturing	69.8	66.7	57.9	64.1	58.7	59.0	59.2	64.2	71.5
Technology, media and telecom	38.4	36.0	35.8	34.2	33.9	33.4	31.3	35.2	37.7
Services	63.7	63.7	59.7	59.1	60.4	60.4	57.9	60.3	60.9
Residential property	140.5	135.7	131.6	127.1	122.6	122.3	119.9	119.1	120.9
Personal customers *)	1 242.6	1 240.9	1 113.0	1 105.6	1 117.3	1 118.6	1 098.2	1 078.8	1 082.0
Other corporate customers	93.0	90.2	85.5	88.8	88.8	86.5	83.4	84.9	83.5
Total exposure at default in customer segments **)	2 405.9	2 352.7	2 128.1	2 097.7	2 091.3	2 065.5	2 023.3	2 027.6	2 073.2
*) Of which:
- Mortgages	1 109.4	1 106.4	988.6	980.0	991.9	994.4	977.4	955.5	953.0
- Other exposures	133.2	134.5	124.4	125.6	125.4	124.2	120.8	123.3	129.0
**) Of which international portfolio	512.3	485.7	422.3	418.8	402.0	381.6	367.6	393.2	423.9

1) For a breakdown, see tables 1.6.3 - 1.6.5.

1.6.1 Credit portfolio (continued)

Risk classification of portfolio 1) *)

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK billion	2022	2022	2022	2021	2021	2021	2021	2020	2020
PD 0.01% -	1 824.1	1 796.4	1 607.8	1 570.5	1 547.5	1 522.3	1 477.8	1 476.7	1 503.0
PD 0.75% -	488.0	459.8	433.1	432.9	442.7	439.5	441.6	441.5	455.0
PD 3.00% -	74.5	78.3	68.8	73.5	79.7	83.2	83.8	83.6	86.2
Net commitments in stage 3	19.4	18.2	18.3	20.7	21.5	20.6	20.0	25.7	29.1
Total portfolio	2 405.9	2 352.7	2 128.1	2 097.7	2 091.3	2 065.5	2 023.3	2 027.6	2 073.2
*) Of which international portfolio:
PD 0.01% -	379.3	353.9	306.0	294.6	273.3	254.9	239.0	257.1	280.8
PD 0.75% -	98.0	98.1	85.6	91.3	93.5	91.7	93.6	99.2	103.8
PD 3.00% -	26.2	25.7	22.2	22.7	24.8	25.7	26.6	25.5	24.1
Net commitments in stage 3	8.8	8.1	8.5	10.3	10.4	9.3	8.4	11.5	15.3
Total international portfolio	512.3	485.7	422.3	418.8	402.0	381.6	367.6	393.2	423.9

1) For a breakdown of commercial real estate, shipping and oil, gas and offshore, see tables 1.6.3 - 1.6.5.

Based on DNB's risk classification system. The volumes represent the expected outstanding amount in the event of default. PD = probability of default.

Exposure at default by industry segment

Risk classification of portfolio

*) Of which mortgages 46.1 per cent of total exposure at default.

1.6.2 Customer segments

Exposure at default

Personal customers

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK billion	2022	2022	2022	2021	2021	2021	2021	2020	2020
Mortgages	1 109.2	1 106.1	988.4	979.8	991.3	993.7	977.4	955.5	953.0
Other exposures	74.9	76.1	67.4	68.9	70.9	72.5	71.2	74.5	83.0
Total exposure at default	1 184.1	1 182.2	1 055.8	1 048.7	1 062.2	1 066.3	1 048.6	1 030.0	1 036.0

Corporate customers, by industry segment

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK billion	2022	2022	2022	2021	2021	2021	2021	2020	2020
Bank, insurance and portfolio management	62.9	60.4	58.1	49.1	53.3	54.1	45.3	49.2	58.1
Commercial real estate	230.7	224.3	218.8	209.5	207.6	207.2	203.3	202.1	195.9
Shipping	52.3	49.2	42.4	44.5	46.7	44.2	47.4	50.1	56.6
Oil, gas and offshore	135.1	124.7	102.1	91.3	93.0	77.7	75.5	78.4	92.5
Power and renewables	82.6	73.9	59.3	60.2	53.4	52.3	50.9	50.8	52.9
Healthcare	47.5	44.7	34.7	32.3	27.2	28.1	30.3	32.4	36.6
Public sector	8.4	8.1	9.5	10.1	10.4	9.2	10.1	11.8	13.1
Fishing, fish farming and farming	75.9	71.7	65.6	66.3	62.9	58.8	58.3	59.0	59.5
Retail industries	62.6	62.5	54.0	55.3	55.2	53.6	52.1	51.3	51.4
Manufacturing	69.8	66.7	57.9	64.1	58.7	59.0	59.2	64.2	71.5
Technology, media and telecom	38.4	36.0	35.8	34.2	33.9	33.4	31.3	35.2	37.7
Services	63.7	63.7	59.7	59.1	60.3	60.4	57.9	60.3	60.9
Residential property	140.5	135.7	131.6	127.1	122.6	122.3	119.9	119.1	120.9
Personal customers	58.5	58.7	57.3	57.0	55.1	52.4	49.7	48.9	46.1
Other corporate customers	92.9	90.1	85.5	88.8	88.8	86.5	83.4	84.9	83.5
Total exposure at default	1 221.8	1 170.5	1072.3	1049.0	1 029.1	999.2	974.7	997.6	1 037.2

Risk classification of portfolio

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK billion	2022	2022	2022	2021	2021	2021	2021	2020	2020
PD 0.01% -
Personal customers	959.8	975.8	852.6	846.8	855.3	861.2	839.9	823.7	823.5
Corporate customers	864.2	820.6	755.2	723.7	692.2	661.0	637.9	653.0	679.5
Total	1 824.1	1 796.4	1 607.8	1 570.5	1 547.5	1 522.3	1 477.8	1 476.7	1 503.0
PD 0.75% -
Personal customers	208.5	190.2	188.2	186.3	191.0	188.8	190.6	188.1	192.5
Corporate customers	279.5	269.6	244.9	246.6	251.7	250.6	251.0	253.4	262.5
Total	488.0	459.8	433.1	432.9	442.7	439.5	441.6	441.5	455.0
PD 3.00% -
Personal customers	13.3	13.4	12.7	13.2	13.2	13.5	14.6	15.2	16.5
Corporate customers	61.2	64.8	56.1	60.4	66.4	69.7	69.2	68.4	69.6
Total	74.5	78.3	68.8	73.5	79.7	83.2	83.8	83.6	86.2
Net commitments in stage 3
Personal customers	2.5	2.8	2.2	2.3	2.7	2.7	3.4	3.0	3.5
Corporate customers	16.9	15.4	16.1	18.4	18.9	17.9	16.6	22.7	25.6
Total	19.4	18.2	18.3	20.7	21.5	20.6	20.0	25.7	29.1
Total Personal customers	1 184.1	1 182.2	1 055.8	1 048.7	1 062.2	1 066.3	1 048.6	1 030.0	1 036.0
Total Corporate customers	1 221.8	1 170.5	1 072.3	1 049.0	1 029.1	999.2	974.7	997.6	1 037.2
Total risk classification of portfolio	2 405.9	2 352.7	2 128.1	2 097.7	2 091.3	2 065.5	2 023.3	2 027.6	2 073.2

Based on DNB's risk classification system. The volumes represent the expected outstanding amount in the event of default. PD = probability of default.

1.6.3 Breakdown of commercial real estate

Exposure at default

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK billion	2022	2022	2022	2021	2021	2021	2021	2020	2020
Retail store facility building loans	1.3	1.3	1.0	1.0	1.0	1.6	2.2	2.3	1.9
Hotel building loans	9.9	8.3	7.9	7.8	7.7	9.0	11.7	9.7	9.0
Shopping centre building loans	1.3	1.2	1.1	1.8	0.1	0.5	0.5	0.5	0.5
Office premises building loans	5.1	4.9	5.4	3.9	3.8	4.7	4.9	5.1	6.6
Leasing of retail store facilities	18.7	19.3	18.8	17.9	17.8	17.8	16.9	18.4	18.6
Leasing of hotels	28.8	27.6	26.0	26.4	25.7	25.9	25.6	27.6	24.6
Leasing of shopping centres	12.1	12.5	12.5	11.0	12.4	11.5	11.3	11.0	11.4
Leasing of office premises	87.9	86.7	86.8	79.4	79.6	79.5	77.9	77.5	77.5
Leasing of warehouse/ logistics/ multi-purpose buildings	34.4	33.0	32.8	27.2	28.4	27.9	26.7	25.5	27.3
Other	31.3	29.5	26.5	33.2	31.1	28.8	25.6	24.5	18.6
Total	230.7	224.3	218.8	209.5	207.6	207.2	203.3	202.1	195.9

Risk classification of portfolio

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK billion	2022	2022	2022	2021	2021	2021	2021	2020	2020
PD 0.01% -	172.7	167.7	164.1	154.2	152.1	149.5	148.8	148.7	145.2
PD 0.75% -	51.7	50.1	49.4	49.7	49.3	51.3	47.4	45.8	43.4
PD 3.00% -	5.5	5.8	4.6	4.8	5.3	5.6	6.4	6.8	6.6
Net commitments in stage 3	0.7	0.7	0.8	0.8	0.9	0.8	0.7	0.8	0.7
Total	230.7	224.3	218.8	209.5	207.6	207.2	203.3	202.1	195.9

Exposure at default Risk classification of portfolio

Based on DNB's risk classification system. The volumes represent the expected outstanding amount in the event of default. PD = probability of default.

1.6.3 Breakdown of commercial real estate (continued)

Exposure at default by geographic distribution

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK billion	2022	2022	2022	2021	2021	2021	2021	2020	2020
Oslo/ Akershus	92.4	87.8	86.4	80.8	75.4	75.8	76.2	70.8	66.7
Eastern Norway excl. Oslo/ Akershus	48.7	47.9	46.5	44.6	46.6	46.9	43.7	44.1	44.4
Western Norway	43.1	43.1	41.7	43.5	41.5	41.0	41.3	40.5	40.0
Central/ Northern Norway	31.9	31.6	30.8	28.2	30.3	29.5	28.7	28.3	28.8
Sweden	9.3	9.4	9.2	8.2	8.1	8.6	7.6	7.6	7.3
Other Europe	5.3	4.5	4.2	4.4	5.7	5.5	5.9	10.8	8.9
Total	230.7	224.3	218.8	209.5	207.6	207.2	203.3	202.1	195.9

Exposure at default by geographic distribution

1.6.4 Breakdown of shipping

Exposure at default

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK billion	2022	2022	2022	2021	2021	2021	2021	2020	2020
Chemical and product tankers	5.7	5.8	4.4	4.3	4.1	4.0	4.2	4.6	5.6
Container	3.1	2.9	3.0	3.5	5.4	4.2	4.2	4.1	5.4
Crude oil carriers	14.2	13.3	11.0	11.6	11.4	11.4	11.5	11.9	14.0
Dry bulk	9.9	9.5	8.7	8.6	9.0	8.4	9.2	9.7	11.7
Gas carriers	12.4	11.9	10.4	10.0	10.3	10.0	12.0	14.1	14.1
Other shipping	7.0	5.8	4.9	6.5	6.6	6.2	6.2	5.7	5.8
Total	52.3	49.2	42.4	44.5	46.7	44.2	47.4	50.1	56.6

Risk classification of portfolio

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK billion	2022	2022	2022	2021	2021	2021	2021	2020	2020
PD 0.01% -	20.7	18.0	14.7	13.6	12.1	11.7	12.5	11.8	13.9
PD 0.75% -	29.7	28.3	25.6	27.9	30.9	27.8	29.9	32.7	37.7
PD 3.00% -	1.8	2.7	2.1	2.7	3.4	4.3	4.6	4.9	4.3
Net commitments in stage 3	0.1	0.1	0.1	0.2	0.3	0.4	0.4	0.7	0.7
Total 1)	52.3	49.2	42.4	44.5	46.7	44.2	47.4	50.1	56.6

1) For a breakdown into sub-segments, see next page.

Exposure at default Risk classification of portfolio

Based on DNB's risk classification system. The volumes represent the expected outstanding amount in the event of default. PD = probability of default.

• 35 -

1.6.4 Breakdown of shipping (continued)

Risk classification of portfolio - breakdown into sub-segments

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK billion	2022	2022	2022	2021	2021	2021	2021	2020	2020
PD 0.01% -
Crude oil sector	6.0	5.5	4.6	3.8	3.1	3.1	3.8	3.7	4.2
Dry bulk sector	5.3	4.6	3.1	1.7	1.7	1.7	1.7	1.7	1.9
Container sector	1.6	1.5	1.0	1.3	1.5	1.3	1.2	1.3	2.3
Other	7.8	6.4	5.9	6.8	5.9	5.6	5.8	5.0	5.6
Total	20.7	18.0	14.7	13.6	12.1	11.7	12.5	11.8	13.9
PD 0.75% -
Crude oil sector	7.8	7.3	6.4	7.7	8.1	7.4	7.5	8.0	9.5
Dry bulk sector	4.5	4.9	5.5	6.9	7.1	2.6	6.7	7.1	8.7
Container sector	1.5	1.4	1.9	2.2	3.7	1.8	2.7	2.4	2.7
Other	15.9	14.8	11.8	11.2	12.0	16.0	12.9	15.3	16.8
Total	29.7	28.3	25.6	27.9	30.9	27.8	29.9	32.7	37.7
PD 3.00% -
Crude oil sector	0.5	0.5	0.2	0.2	0.2	0.9	0.2	0.2	0.2
Dry bulk sector		0.0	0.0	0.0	0.2	0.2	0.6	0.7	0.8
Container sector					0.2	0.2	0.3	0.3	0.3
Other	1.3	2.2	1.0	2.5	2.7	3.0	3.5	3.8	2.9
Total	1.8	2.7	2.1	2.7	3.4	4.3	4.6	4.9	4.3
Net commitments in stage 3
Crude oil sector	0.0
Dry bulk sector	0.0	0.0	0.0	0.0	0.1	0.2	0.2	0.2	0.3
Container sector					0.0	0.0	0.0	0.0	0.0
Other	0.1	0.0	0.1	0.2	0.2	0.2	0.2	0.4	0.3
Total	0.1	0.1	0.1	0.2	0.3	0.4	0.4	0.7	0.7
Total shipping	52.3	49.2	42.4	44.5	46.7	44.2	47.4	50.1	56.6

Based on DNB's risk classification system. The volumes represent the expected outstanding amount in the event of default. PD = probability of default.

1.6.5 Breakdown of oil, gas and offshore

Exposure at default

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK billion	2022	2022	2022	2021	2021	2021	2021	2020	2020
Oil and gas	87.7	80.8	62.8	47.7	49.3	33.8	29.7	31.7	41.3
Offshore	25.6	24.2	21.7	24.1	24.5	25.0	26.5	28.1	30.5
Oilfield services	18.8	16.7	14.9	16.6	16.0	15.5	15.0	14.6	15.4
Midstream	3.0	3.0	2.6	3.0	3.2	3.4	4.2	4.0	5.3
Total	135.1	124.7	102.1	91.3	93.0	77.7	75.5	78.4	92.5

Risk classification of portfolio

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK billion	2022	2022	2022	2021	2021	2021	2021	2020	2020
PD 0.01% -	92.8	82.8	63.8	50.6	46.1	31.1	27.9	28.5	36.3
PD 0.75% -	24.5	24.5	22.7	23.2	26.8	26.6	28.6	23.4	26.7
PD 3.00% -	7.3	7.9	6.6	6.7	9.5	9.5	9.3	13.0	14.3
Net commitments in stage 3	10.6	9.5	9.0	10.7	10.6	10.4	9.8	13.5	15.3
Total 1)	135.1	124.7	102.1	91.3	93.0	77.7	75.5	78.4	92.5

1) For a breakdown into sub-segments, see next page.

Exposure at default Risk classification of portfolio

24 7 11 0 10 20 30 40 50 60 70 80 90 100 31 March 2021 30 June 2021 30 Sept. 2021 31 Dec. 2021 31 March 2022 30 June 2022 30 Sept. 2022 Net commitments in stage 3 NOK billion PD 0.01% - PD 0.75% - PD 3.0% -

Based on DNB's risk classification system. The volumes represent the expected outstanding amount in the event of default. PD = probability of default.

• 37 -

1.6.5 Breakdown of oil, gas and offshore (continued)

Risk classification of portfolio - breakdown into sub-segments

30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
2022	2022	2022	2021	2021	2021	2021	2020	2020
80.6	72.5	55.9	43.0	38.4	25.2	21.8	22.3	28.6
3.0	2.8	2.5	3.0	3.7	2.6	2.8	3.2	3.2
9.2	7.5	5.4	4.6	4.1	3.3	3.3	3.0	4.4
92.8	82.8	63.8	50.6	46.1	31.1	27.9	28.5	36.3
10.1	11.2	9.2	7.3	12.8	10.5	9.9	8.9	10.6
8.8	8.0	6.3	6.2	4.9	6.8	8.8	8.9	9.6
5.6	5.3	7.3	9.7	9.1	9.2	9.9	5.6	6.5
24.5	24.5	22.7	23.2	26.8	26.6	28.6	23.4	26.7
0.0	0.1	0.4	0.8	1.6	1.5	2.2	2.4	4.7
3.4	4.0	4.3	3.7	5.4	5.4	5.5	6.0	6.6
3.9	3.8	1.9	2.2	2.5	2.7	1.6	4.7	3.1
7.3	7.9	6.6	6.7	9.5	9.5	9.3	13.0	14.3
0.0	0.0	0.0	0.0	0.0	0.0	0.1	2.2	2.7
10.5	9.4	8.6	10.7	10.1	10.2	9.5	10.0	11.1
0.1	0.1	0.4	0.1	0.5	0.2	0.2	1.3	1.4
10.6	9.5	9.0	10.7	10.6	10.4	9.8	13.5	15.3
135.1	124.7	102.1	91.3	93.0	77.7	75.5	78.4	92.5

Based on DNB's risk classification system. The volumes represent the expected outstanding amount in the event of default. PD = probability of default.

1.6.6 DNB's risk classification

		Probability of default (per cent)	External rating
Risk class	As from	Up to	Moody's	S&P Global
1	0.01	0.10	Aaa – A3	AAA – A
2	0.10	0.25	Baa1 – Baa2	BBB+ – BBB
3	0.25	0.50	Baa3	BBB
4	0.50	0.75	Ba1	BB+
5	0.75	1.25	Ba2	BB
6	1.25	2.00
7	2.00	3.00	Ba3	BB
8	3.00	5.00	B1	B+
9	5.00	8.00	B2	B
10	8.00 impaired		B3, Caa/C	B-, CCC/C

DNB's risk classification system, where 1 represents the lowest risk and 10 the highest risk.

1.7.1 Funding

X1AO

DNB Bank ASA issues senior debt and subordinated debt. DNB Boligkreditt AS, which is a wholly owned subsidiary of DNB Bank ASA, issues covered bonds. DNB issues bonds through large public transactions and private placements.

	2022		2021			2020
	NOK	Maturity	NOK	Maturity	NOK	Maturity
	billion	(years) 1)	billion	(years) 1)	billion	(years) 1)
Covered bonds			26.1	8.9	33.6	5.9
Senior unsecured bonds	61.7	3.4	17.0	3.0
Senior non-preferred bonds	12.7	4.5	29.7	5.9	8.6	5.0
Total	74.4	3.6	72.8	6.3	42.2	5.7
Additional Tier 1 capital and Tier 2 loans	6.4		4.8		4.0
Total including Tier 1 capital and Tier 2 loans	80.8		77.6		46.2

1) Maturity as per first call option.

1.7.2 Redemption profile as at 30 September 2022

Amounts in NOK billion	2022	2023	2024	2025	2026	2027	2028	2029	2030	2031	>2031
Senior unsecured bonds	30.2	59.1	54.1	17.5	17.7	13.5	1.3	0.5
Senior non-preferred bonds				14.8	22.0	8.9	12.7				0.8
Covered bonds	18.0	82.0	49.1	49.6	42.5	19.9	15.7	2.3	2.8	20.1	34.4
Total	48.2	141.1	103.2	81.9	82.2	42.3	29.7	2.8	2.8	20.1	35.2

A total overview of subordinated loans can be found in the appendix.

X12AO

1.7.3 Minimum requirement for own funds and eligible liabilities (MREL)

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.
Amounts in NOK million	2022	2022	2022	2021	2021	2021	2021	2020
Own funds and eligible liabilities	366 362	337 087	314 856	326 126	336 429	314 740	302 874	316 973
- of which own funds and subordinated liabilities	231 333	210 704	203 817	232 393	218 830	195 658	182 792	175 471
Own funds and eligible liabilities including eligible YTD results	378 372	345 104	318 604	326 126	345 728	320 677	305 515	316 973
- of which own funds and subordinated liabilities including
eligible YTD results	243 154	218 721	207 565	232 393	228 129	201 595	185 433	175 471
Total risk exposure amount (TREA) of the resolution group	920 896	912 029	871 858	844 196	854 718	846 711	818 487	835 681
Own funds and eligible liabilities as a percentage of TREA	39.78	36.96	36.11	38.63	39.36	37.17	37.00	37.93
- of which own funds and subordinated liabilities	25.12	23.10	23.38	27.53	25.60	23.11	22.33	21.00
Own funds and eligible liabilities as a percentage of TREA
including eligible YTD results	41.09	37.84	36.54	38.63	40.45	37.87	37.33	37.93
- of which own funds and subordinated liabilities including
eligible YTD results	26.40	23.98	23.81	27.53	26.69	23.81	22.66	21.00
MREL requirement expressed as percentage of the total risk
exposure amount	35.75	35.75	35.75	35.75	35.54	35.54	35.54	35.54
MREL requirement expressed as nominal amount	329 220	326 050	311 689	301 800	303 767	300 921	290 890	297 001
Surplus (+) / deficit (-) of MREL capital	37 141	11 037	3 167	24 326	32 662	13 819	11 984	19 972
Surplus (+) / deficit (-) of MREL capital including eligible
YTD results	49 152	19 054	6 915	24 326	41 961	19 756	14 625	19 972

The MREL requirement applies to DNB only, as Sbanken has its own MREL requirement.

1.7.4 Asset encumbrance as at 30 June 2022

Encumbered and unencumbered assets, carrying amounts

	Encumbered	Unencumbered	Total
Amounts in NOK million	assets	assets	assets
Equity instruments	723	7 468	8 190
Debt securities	17 953	263 713	281 666
Of which covered bonds	1 622	64 877	66 499
Of which issued by general governments	5 894	86 157	92 050
Of which issued by financial corporations	9 804	151 612	161 416
Of which issued by non-financial corporations	2 256	5 920	8 176
Other assets	392 283	2 297 548	2 689 831
Of which home mortgage loans	343 479	855 998	1 199 477
Total	410 959	2 568 729	2 979 688

Collateral received, fair value

		Collateral received
	Encumbered	available for	Total
Amounts in NOK million	collateral received	encumbrance	collateral received
Equity instruments	16 819	6 608	23 427
Debt securities	43 995	125 233	169 228
Of which covered bonds	14 014	49 970	63 984
Of which issued by general governments	20 884	61 985	82 869
Of which issued by financial corporations	23 111	62 854	85 965
Of which issued by non-financial corporations	1 149	394	1 543
Other assets	0	41 424	41 424
Total	60 813	173 265	234 078

Sources of encumbrance

		Encumbered assets
		and encumbered
Amounts in NOK million	Matching liabilities	collateral received
Derivatives	48 804	48 804
Repurchase agreements	53 111	52 363
Collateralised deposits other than repurchase agreements	28 004	27 127
Debt securities issued: covered bonds	374 004	343 479
Total	503 923	471 772

The above tables are according to the CRD IV reporting according to EU regulations and do not include non-financial companies in the DNB Group.

1.7.5 Liquid assets as at 30 September 2022

Amounts in NOK million	NOK	EUR	USD	SEK1)	Other	Total*)
Cash and balances with central banks	955	287 276	117 291	27 999	49	433 570
Securities issued or guaranteed by sovereigns, central banks, MDBs and international organisations	49 022	5 468	21 681	18 395	3 904	98 469
Securities issued by municipalities and PSEs	21 672	2 630	39 331	18 359	89	82 081
Extremely high quality covered bonds	82 302	283		10	675	83 270
Other assets						0
Level 1 assets	153 951	295 656	178 303	64 762	4 717	697 390
Securities issued or guaranteed by sovereigns, central banks, municipalities and PSEs	21 629		5 461			27 090
High quality covered bonds	7 781	754		69	12	8 615
Corporate debt securities (lowest rating AA-)			3			3
Other assets		0	0			0
Level 2A assets	29 410	754	5 464	69	12	35 708
Asset-backed securities						0
High quality covered bonds	2 983					2 983
Corporate debt securities (rated A+ to BBB-)	136	56	75			267
Shares (major stock index)		630		157	291	1 340
Other assets						0
Level 2B assets	3 381	686	75	157	291	4 590
Level 2 assets	32 791	1 440	5 540	226	303	40 298
Total liquid assets	186 742	297 096	183 843	64 987	5 020	737 688

*) Total figures per quarter

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK million	2022	2022	2022	2021	2021	2021	2021	2020	2020
Cash and balances with central banks	433 570	345 765	330 441	271 124	509 929	472 292	389 513	269 671	317 717
Securities issued or guaranteed by sovereigns, central banks, MDBs and international organisations	98 469	138 578	130 675	136 906	92 453	82 099	89 866	107 795	109 766
Securities issued by municipalities and PSEs	82 081	82 015	78 588	55 698	100 519	103 953	104 702	94 680	100 297
Extremely high quality covered bonds	83 270	92 845	87 553	69 585	49 875	46 472	58 505	84 967	74 634
Other assets
Level 1 assets	697 390	659 203	627 257	533 313	752 776	704 816	642 585	557 113	602 414
Securities issued or guaranteed by sovereigns, central banks, municipalities and PSEs	27 090	20 172	21 276	34 427	19 475	21 415	24 411	29 356	17 901
High quality covered bonds	8 615	6 688	8 686	6 488	6 533	3 777	6 829	9 183	10 607
Corporate debt securities (lowest rating AA-)	3						125		11
Other assets
Level 2A assets	35 708	26 860	29 962	40 915	26 008	25 192	31 365	38 539	28 519
Asset-backed securities
High quality covered bonds	2 983	1 051	798	800
Corporate debt securities (rated A+ to BBB-)	267	118	62	14	108	458	282	76	517
Shares (major stock index)	1 340	1 469	1 987	1 263	3 406	3 969	6 336	13 086	13 093
Other assets						0
Level 2B assets	4 590	2 639	2 847	2 077	3 514	4 428	6 618	13 162	13 610
Level 2 assets	40 298	29 499	32 809	42 992	29 522	29 619	37 983	51 701	42 129
Total liquid assets	737 688	688 702	660 066	576 305	782 298	734 436	680 568	608 814	644 543

1) Not a significant currency.

All definitions are in accordance with Liquidity Coverage Ratio in CRR.

1.7.6 Liquidity Coverage Ratio (LCR)

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Per cent	2022	2022	2022	2021	2021	2021	2021	2020	2020
EUR	166	179	204	169	238	183	271	221	201
USD	348	304	319	251	244	238	282	266	276
NOK	78	72	70	67	71	72	72	74	82
Total	153	139	137	135	150	148	159	148	145

1.7.7 Net Stable Funding Ratio (NSFR)

	30 Sept.	30 June
NOK million	2022	2022
Total available stable funding (ASF)	1 738 911	1 694 413
Total required stable funding (RSF)	1 487 274	1 449 364
Net Stable Funding Ratio (per cent)	117	117

X13AO

1.7.8 DNB Bank ASA - credit ratings from international rating agencies

		Moody's	S&P Global
	Long-term Short-term		Long-term	Short-term
As at 7 October 2022	Aa2 1)	P-1	AA- 1)	A-1+
As at 30 June 2022	Aa2 2-)	P-1	AA- 1)	A-1+
As at 31 March 2022	Aa2 2-)	P-1	AA- 1)	A-1+
As at 9 February 2022	Aa2 2-)	P-1	AA- 1)	A-1+
As at 30 September 2021	Aa2 1)	P-1	AA- 1)	A-1+
As at 30 June 2021	Aa2 1)	P-1	AA- 1)	A-1+
As at 31 March 2021	Aa2 1)	P-1	AA- 1)	A-1+
As at 31 December 2020	Aa2 1)	P-1	AA- 1)	A-1+
As at 30 September 2020	Aa2 1)	P-1	AA- 1)	A-1+

1) Stable outlook.

2) Negative outlook.

Covered bonds issued by DNB Boligkreditt are rated Aaa by Moody's and AAA by S&P Global, both with a stable outlook.

X14AO

1.7.9 Major shareholders as at 30 September 2022

	Shares in 1 000	Ownership in per cent
Norwegian Government/Ministry of Trade, Industry and Fisheries	527 124	34.0
DNB Savings Bank Foundation	130 001	8.4
The Capital Group Companies, Inc.	112 457	7.3
Folketrygdfondet	87 355	5.6
BlackRock, Inc.	54 694	3.5
Vanguard Group Holdings	37 099	2.4
Deutsche Bank AG Group	29 003	1.9
T. Rowe Price Group, Inc.	20 053	1.3
Storebrand Kapitalforvaltning	19 190	1.2
State Street Corporation	19 185	1.2
DNB Asset Management AS	18 851	1.2
Kommunal Landspensjonskasse	16 350	1.1
Danske Bank Group	15 567	1.0
Crédit Agricole S.A.	14 349	0.9
Schroders PLC	14 324	0.9
Nordea AB	13 805	0.9
Svenska Handelsbanken AB	11 397	0.7
Ameriprise Financials, Inc.	10 773	0.7
Polaris Capital Management, LLC	10 367	0.7
BNP Paribas, S.A.	10 339	0.7
Total largest shareholders	1 172 284	75.6
Other shareholders	378 081	24.4
Total	1 550 365	100.0

The owners of shares in nominee accounts are determined on the basis of third-party analyses.

For information related to the share buy-back programmes and redemption of shares, refer to 1.7.11.

1.7.10 Ownership according to nationality as at 30 September 2022

Source: Nasdaq

1.7.11 Share buy-back programmes

At the Annual General Meeting on 26 April 2022, the Board was given an authorisation for a new share buy-back programme of 3.5 per cent. In addition, DNB Markets was authorised to repurchase 0.5 per cent for hedging purposes. The authorisation is valid up to the Annual General Meeting in 2023. Initially, DNB has applied and received approval for a 1.5 per cent repurchase limit from Finanstilsynet (the Financial Supervisory Authority of Norway), whereof 0.5 per cent can only be used for hedging purposes by DNB Markets. If and when the Board decides to start a new share buy-back programme, this will be announced.

X15AO

1.8.1 Own funds - condensed

Capital adequacy is calculated and reported in accordance with the EU capital requirements regulations for banks and investment firms (CRR/CRD). The regulatory consolidation deviates from consolidation in the accounts and comprises the parent company, subsidiaries and associated companies within the financial sector, excluding insurance companies. Associated companies are consolidated pro rata.

Capital adequacy figures include 50 per cent of interim profit, except for the full year figures.

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK million	2022	2022	2022	2021	2021	2021	2021	2020	2020
Total equity	251 011	239 123	244 481	243 912	252 497	245 548	240 020	248 396	245 110
Effect from regulatory consolidation	(6 655)	(6 483)	(6 859)	(6 605)	(6 903)	(6 624)	(6 420)	(6 014)	(4 263)
Adjustment to retained earnings for foreseeable dividends	(10 597)	(7 180)	(3 359)		(8 382)	(5 346)	(2 641)		(7 283)
Net additional Tier 1 capital instruments included in total equity	(14 849)	(11 436)	(11 317)	(16 880)	(17 001)	(16 848)	(18 103)	(18 270)	(18 434)
Total equity for capital adequacy purpose	218 910	214 023	222 946	220 427	220 212	216 731	212 857	224 112	215 131
Regulatory adjustments	(21 433)	(21 409)	(36 374)	(31 122)	(31 207)	(30 338)	(29 898)	(42 997)	(30 028)
Common equity Tier 1 capital	197 477	192 614	186 572	189 305	189 005	186 393	182 959	181 115	185 103
Additional Tier 1 capital instruments, net	12 834	9 540	9 542	15 095	15 095	12 157	13 121	13 575	14 021
Tier 1 capital	210 311	202 155	196 114	204 400	204 100	198 550	196 080	194 689	199 124
Additional Tier 2 capital instruments, net	23 432	21 892	20 732	29 401	25 484	18 656	18 021	19 499	21 277
Own funds	233 743	224 047	216 846	233 801	229 584	217 206	214 101	214 188	220 401

Total risk exposure amount	1 089 515	1 070 703	1 030 327	973 431	982 349	976 567	954 083	967 146	979 898
Minimum capital requirement	87 161	85 656	82 426	77 875	78 588	78 125	76 327	77 372	78 392
Common equity Tier 1 capital ratio (%)	18.1	18.0	18.1	19.4	19.2	19.1	19.2	18.7	18.9
Tier 1 capital ratio (%)	19.3	18.9	19.0	21.0	20.8	20.3	20.6	20.1	20.3
Total capital ratio (%)	21.5	20.9	21.0	24.0	23.4	22.2	22.4	22.1	22.5

See table 1.8.4 for more details.

1.8.2 Leverage ratio

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK million	2022	2022	2022	2021	2021	2021	2021	2020	2020
Tier 1 capital	210 311	202 155	196 114	204 400	204 100	198 550	196 081	194 689	199 124
Leverage exposure
Securities financing transactions (SFTs)	134 950	145 880	181 325	135 032	135 025	151 871	143 648	157 135	224 622
Derivatives market value	160 171	123 815	51 451	51 645	55 019	45 280	40 173	49 702	64 973
Potential future exposure on derivatives	81 617	71 526	38 573	34 207	35 733	32 058	32 969	31 664	34 483
Eligible cash variation margin	(78 364)	(60 305)	(5 670)	(8 573)	(23 064)	(21 429)	(22 638)	(23 245)	(27 731)
Off balance sheet commitments	292 023	283 076	282 702	271 207	265 430	261 526	258 188	255 641	265 860
Loans and advances and other assets	2 699 098	2 572 498	2 473 882	2 320 057	2 556 921	2 498 567	2 413 894	2 299 264	2 355 746
Deductions	(20 923)	(20 999)	(19 801)	(14 871)	(16 102)	(15 157)	(14 990)	(15 049)	(14 986)
Total exposure amount	3 268 572	3 115 491	3 002 460	2 788 704	3 008 964	2 952 716	2 851 245	2 755 112	2 902 966
Leverage ratio (%)	6.4	6.5	6.5	7.3	6.8	6.7	6.9	7.1	6.9
Leverage ratio excluding central bank
deposits (%)	7.4	7.3	7.4	8.1	8.2	8.4	8.0	8.4	7.7

1.8.3 Specification of exposure at default (EAD), risk exposure amount (REA) and average risk weights

		30 September 2022			30 June 2022		30 September 2021
			Average			Average			Average
	EAD	REA	risk weight	EAD	REA	risk weight	EAD	REA	risk weight
	(NOK million)		(per cent)	(NOK million)		(per cent)	(NOK million)		(per cent)
IRB approach
Corporates, of which:	991 760	423 419	42.7	939 618	404 892	43.1	819 386	369 365	45.1
Specialised lending (SL)	9 218	4 354	47.2	13 865	7 711	55.6	12 135	4 589	37.8
SME	196 679	84 398	42.9	188 835	82 929	43.9	190 855	85 974	45.0
Other corporates	785 862	334 667	42.6	736 918	314 252	42.6	616 396	278 803	45.2
Retail, of which:	987 102	219 693	22.3	981 741	218 401	22.2	973 688	215 714	22.2
Secured by mortgages on immovable
property	915 288	197 103	21.5	908 108	195 237	21.5	899 822	193 759	21.5
Other retail	71 814	22 589	31.5	73 633	23 165	31.5	73 866	21 955	29.7
Total credit risk, IRB approach	1 978 862	643 112	32.5	1 921 359	623 294	32.4	1 793 074	585 080	32.6
Standardised approach
Central governments and central banks	496 792	1	0.0	406 236	1	0.0	569 822	267	0.0
Regional governments or local authorities	41 026	732	1.8	42 596	1 126	2.6	43 997	1 067	2.4
Public sector entities	61 169	219	0.4	59 289	338	0.6	24 375	367	1.5
Multilateral development banks	41 238			37 272			31 673
International organisations	1 601			1 448			5 422
Institutions	68 710	19 943	29.0	64 343	21 327	33.1	84 555	16 948	20.0
Corporates	190 549	135 985	71.4	183 452	133 888	73.0	168 106	130 202	77.5
Retail	66 848	49 758	74.4	69 463	51 806	74.6	63 297	47 134	74.5
Secured by mortgages on immovable property	126 435	50 345	39.8	120 716	48 179	39.9	24 471	14 535	59.4
Exposures in default	1 581	2 052	129.8	1 992	2 605	130.8	1 581	2 152	136.1
Items associated with particular high risk	988	1 482	150.0	660	990	150.0	827	1 241	150.0
Covered bonds	46 880	4 688	10.0	45 494	4 551	10.0	33 615	3 362	10.0
Collective investment undertakings	1 121	197	17.6	1 057	199	18.8	979	247	25.2
Equity positions	23 615	52 297	221.5	23 708	52 298	220.6	23 359	51 232	219.3
Other assets	25 152	13 099	52.1	24 631	12 429	50.5	22 533	19 997	88.7
Total credit risk, standardised approach	1 193 704	330 799	27.7	1 082 359	329 737	30.5	1 098 614	288 750	26.3
Total credit risk	3 172 566	973 910	30.7	3 003 718	953 031	31.7	2 891 688	873 829	30.2
Market risk
Position and general risk, debt instruments		8 041			10 413			7 895
Position and general risk, equity instruments		612			762			546
Currency risk		26			27			47
Commodity risk		0			0			1
Total market risk		8 678			11 202			8 490
Credit value adjustment risk (CVA)		5 772			5 315			4 699
Operational risk		101 154			101 154			95 331
Total risk exposure amount and capital requirement		1 089 515			1 070 703			982 349

1.8.4 Own funds - DNB Bank ASA and DNB Group

Capital adequacy is calculated and reported in accordance with the EU capital requirements regulations for banks and investment firms (CRR/CRD). The regulatory consolidation deviates from consolidation in the accounts and comprises the parent company, subsidiaries and associated companies within the financial sector, excluding insurance companies. Associated companies are consolidated pro rata.

Capital adequacy figures include 50 per cent of interim profit, except for full year figures, when relevant.

		DNB Bank ASA		DNB Group
	30 Sept.	30 June	30 Sept.	30 Sept.	30 June	30 Sept.
Amounts in NOK million	2022	2022	2021	2022	2022	2021
Total equity	216 599	209 507	212 895	251 011	239 123	252 497
Effect from regulatory consolidation				(6 655)	(6 483)	(6 903)
Adjustment to retained earnings for foreseeable dividends	(7 290)	(5 411)	(6 788)	(10 597)	(7 180)	(8 382)
Additional Tier 1 capital instruments included in total equity	(13 724)	(10 474)	(16 595)	(14 424)	(11 174)	(16 595)
Net accrued interest on additional Tier 1 capital instruments	(422)	(261)	(406)	(424)	(261)	(406)
Common Equity Tier 1 capital instruments	195 162	193 360	189 106	218 910	214 023	220 212
Regulatory adjustments:
Pension funds above pension commitments				(2)	(3)
Goodwill	(2 392)	(2 386)	(2 403)	(8 973)	(8 864)	(4 836)
Deferred tax assets that rely on future profitability, excluding temporary differences	(25)	(25)	(453)	(440)	(440)	(973)
Other intangible assets	(792)	(818)	(994)	(1 911)	(1 951)	(1 743)
Dividends payable and group contributions						(13 953)
Deduction for investments in insurance companies 1)				(5 574)	(5 670)	(6 115)
IRB provisions shortfall (-)	(1 646)	(1 660)	(1 296)	(2 875)	(2 832)	(2 393)
Additional value adjustments (AVA)	(961)	(1 045)	(943)	(1 085)	(1 210)	(1 040)
Insufficient coverage for non-performing exposures	(32)			(63)	(29)	(42)
(Gains) or losses on liabilities at fair value resulting from own credit risk	(74)	(56)	17	(205)	(161)	(22)
(Gains) or losses on derivative liabilities resulting from own credit risk (DVA)	(544)	(467)	(371)	(305)	(249)	(89)
Common Equity Tier 1 capital	188 696	186 903	182 664	197 477	192 614	189 005
Additional Tier 1 capital instruments	13 724	10 474	16 595	14 424	11 174	16 595
Deduction of holdings of Tier 1 instruments in insurance companies 2)				(1 500)	(1 500)	(1 500)
Non-eligible Tier 1 capital, DNB Group 3)				(91)	(134)
Additional Tier 1 capital instruments, net	13 724	10 474	16 595	12 834	9 540	15 095
Tier 1 capital	202 420	197 378	199 259	210 311	202 155	204 100
Perpetual subordinated loan capital	6 122	5 602	5 723	6 122	5 602	5 723
Term subordinated loan capital	22 096	21 128	25 511	22 996	22 028	25 511
Deduction of holdings of Tier 2 instruments in insurance companies 2)				(5 588)	(5 588)	(5 750)
Non-eligible Tier 2 capital, DNB Group 3)				(98)	(150)
Additional Tier 2 capital instruments, net	28 218	26 730	31 234	23 432	21 892	25 484
Own funds	230 639	224 108	230 493	233 743	224 047	229 584
Total risk exposure amount	916 303	908 786	832 963	1 089 515	1 070 703	982 349
Minimum capital requirement	73 304	72 703	66 637	87 161	85 656	78 588
Capital ratios (%):
Common equity Tier 1 capital ratio	20.6	20.6	21.9	18.1	18.0	19.2
Tier 1 capital ratio	22.1	21.7	23.9	19.3	18.9	20.8
Total capital ratio	25.2	24.7	27.7	21.5	20.9	23.4

1) Deductions are made for significant investments in financial sector entities when the total value of the investments exceed 10 per cent of common equity Tier 1 capital. The amounts that are not deducted are given a risk weight of 250 per cent.

2) Investments in Tier 1 and Tier 2 instruments issued by the Group's insurance companies are deducted from the Group's Tier 1 and Tier 2 capital.

3) Tier 1 and Tier 2 capital in subsidiaries not included in consolidated own funds in accordance with Articles 85-88 of the CRR.

1.8.5 Cross-sectoral financial group

Financial groups that consist of both a credit institution and an insurance undertaking and have been defined by the authorities as a "financial conglomerate" or cross-sectoral financial group, have to report capital adequacy on a consolidated basis. The cross-sectoral calculation tests that the DNB Group complies with both sectoral requirements, the "capital adequacy requirement in accordance with CRD IV" and "the Solvency II requirement". Intra group capital is excluded from the calculation.

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Amounts in NOK million	2022	2022	2022	2021	2021	2021	2021	2020	2020
Capital requirements for the CRD IV group	195 754	191 317	180 717	168 971	171 839	171 743	167 673	169 903	168 895
Solvency capital requirements for the insurance
companies	16 717	16 987	18 009	19 230	19 142	20 190	20 396	20 074	19 918
Total capital requirements	212 471	208 304	198 726	188 201	190 981	191 933	188 069	189 977	188 814
Net own funds for entities included in the CRD IV
report	234 526	228 731	225 960	246 074	233 487	224 403	224 607	227 294	226 751
Intercompany	(31 697)	(31 697)	(31 697)	(31 697)	(31 785)	(31 785)	(31 785)	(31 819)	(31 819)
Net own funds for the insurance companies	33 990	34 294	32 940	36 816	38 086	38 562	39 031	39 334	35 414
Total own funds	236 819	231 329	227 203	251 193	239 788	231 180	231 853	234 809	230 347
Overfunding	24 348	23 024	28 477	62 992	48 808	39 247	43 784	44 832	41 533

Chapter 2 - Segmental reporting

Financial performance

Market shares

Personal customers

Corporate customers

Other operations

Main subsidiaries and product units

• 49 -

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2.1.1 Extracts from income statement

	Personal customers		Corporate customers				Other operations		Eliminations				DNB Group
Amounts in NOK million	3Q22	3Q21	3Q22	3Q21	3Q22	3Q21	3Q22	3Q21	3Q22	3Q21
Net interest income	3 936	3 148	8 076	6 176	241	442			12 253	9 766
Net other operating income	1 452	1 311	1 943	2 064	268	2 208	212	(1 006)	3 875	4 577
Total income	5 388	4 459	10 018	8 240	509	2 649	212	(1 006)	16 128	14 343
Operating expenses	(2 576)	(2 177)	(3 701)	(3 272)	17	(1 308)	(212)	1 006	(6 473)	(5 752)
Pre-tax operating profit before impairment	2 812	2 282	6 317	4 968	526	1 341			9 655	8 591
Net gains on fixed and intangible assets		0	(1)	0	1	(0)			1	0
Impairment of financial instruments	(98)	22	244	179	1	0			148	200
Profit from repossessed operations			15	53	(15)	(53)
Pre-tax operating profit	2 714	2 303	6 575	5 200	514	1 288			9 803	8 791
Tax expense	(679)	(576)	(1 644)	(1 300)	68	(58)			(2 255)	(1 934)
Profit from operations held for sale, after taxes					26	26			26	26
Profit for the period	2 036	1 728	4 932	3 900	607	1 256			7 575	6 883

2.1.2 Main balance sheet items and key figures

Average balance sheet items

	Personal customers		Corporate customers		Other operations		Eliminations		DNB Group
Amounts in NOK billion	3Q22	3Q21	3Q22	3Q21	3Q22	3Q21	3Q22	3Q21	3Q22	3Q21
Loans to customers 1)	936.2	834.5	887.7	786.5	104.6	106.1	(8.9)	(12.7)	1 919.6	1 714.5
Deposits from customers 1)	591.2	490.7	821.5	731.2	36.4	106.3	(6.7)	(7.0)	1 442.4	1 321.2
Assets under management	195.3	201.0	443.7	477.0	189.3	196.4			828.3	874.4
Allocated capital 2)	58.2	48.1	109.2	99.4	36.7	35.0

Key figures

	Personal customers		Corporate Other customers operations		Eliminations		DNB Group
Per cent	3Q22	3Q21	3Q22	3Q21	3Q22	3Q21	3Q22	3Q21	3Q22	3Q21
Cost/income ratio	47.8	48.8	36.9	39.7					40.1	40.1
Ratio of deposits to loans 1) 3)	63.2	58.8	92.5	93.0					75.1	77.1
Return on allocated capital, annualised 2)	13.9	14.2	17.9	15.6					12.7	11.4

Balance sheet items

	Personal customers		Corporate customers		Other operations		Eliminations		DNB Group
	30 September		30 September		30 September		30 September		30 September
Amounts in NOK billion	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021
Loans to customers	945.0	839.8	917.1	788.4	105.7	103.2	(8.6)	(8.2)	1 959.3	1 723.2
Deposits from customers	585.8	488.4	872.6	740.1	19.8	12.5	(7.4)	(7.5)	1 470.9	1 233.6

1) Loans to customers include accrued interest, impairment and value adjustments. Correspondingly, deposits from customers include accrued interest.

2) The capital allocated to the business segments is based on the external capital adequacy expectations. The capital allocated in 2022 and 2021 corresponds to a common equity Tier 1 capital ratio of 17,6 per cent. Recorded capital is used for the Group.

3) Deposits from customers relative to loans to customers. Calculated on the basis of average balance sheet items.

2.1.3 Key figures - Norwegian and international units

Per cent	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Norwegian units
Share of group income	80.2	81.4	78.9	79.2	81.2	80.8	81.6	79.5	81.3
Cost/income ratio	39.8	38.5	39.3	44.3	39.2	43.6	41.7	49.6	42.3
Share of net loans to customers	87.6	87.6	88.5	88.0	88.0	87.9	88.4	88.0	87.6
Net loans at amortised cost and financial commitments in stage 3, per cent of net loans to customers at amortised cost	1.4	1.5	1.5	1.6	1.7	1.6	1.6	1.4	1.7
Provision ratio (per cent) 1)	26.0	25.1	26.7	29.3	31.6	33.8	38.6	41.8	41.1
Impairment in stage 3, relative to net loans to customers at amortised cost, annualised	0.06	0.02	0.13	(0.15)	(0.05)	0.14	(0.07)	(0.36)	(0.32)
International units
Share of group income	19.8	18.6	21.1	20.8	18.8	19.2	18.4	20.5	18.7
Cost/income ratio	41.4	46.6	39.6	42.6	44.2	47.7	51.7	46.1	43.3
Share of net loans to customers	12.4	12.4	11.5	12.0	12.0	12.1	11.6	12.0	12.4
Net loans at amortised cost and financial commitments in stage 3, per cent of net loans to customers at amortised cost	1.0	0.8	0.8	1.0	0.8	0.9	2.3	2.6	2.9
Provision ratio (per cent) 1)	30.9	50.3	53.7	51.6	60.4	64.0	39.7	35.6	37.6
Impairment in stage 3, relative to net loans to customers at amortised cost, annualised	(0.07)	0.08	0.09	0.19	0.10	0.03	0.29	(0.97)	(1.22)

1) The provision ratio includes impairment on loans and financial commitments as a percentage of gross loans to customers at amortised cost and financial commitments in stage 3.

The figures are based on the financial accounts.

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2.2.1 DNB's market shares in Norway as at 31 August 2022

DNB's market shares

Source: Statistics Norway and Finance Norway

2.2.2 Development in market shares, loans and deposits

Retail customers

	31 Aug.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Per cent	2022	2022	2022	2021	2021	2021	2021	2020	2020
Total loans to households 1) 2)	24.1	24.2	22.1	22.4	22.7	22.8	22.9	23.0	23.0
Bank deposits from households 1) 3)	32.1	32.2	28.3	28.7	28.8	28.8	28.6	28.6	28.5

Corporate customers

	31 Aug.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Per cent	2022	2022	2022	2021	2021	2021	2021	2020	2020
Total loans to corporate customers 4)	11.6	11.7	11.1	10.8	10.8	10.7	10.7	10.7	10.9
Deposits from corporate customers 5)	38.1	36.7	36.0	36.6	36.6	35.9	37.2	36.5	36.2

Based on nominal values.

1) Households are defined as employees, recipients of property income, pensions and social contributions, students etc., housing cooperatives etc., unincorporated enterprises within households and non-profit institutions serving households.

2) Total loans include all credits extended to Norwegian customers by domestic commercial and savings banks, state banks, insurance companies and finance companies.

3) Domestic commercial and savings banks.

4) Total loans include all credits extended to Norwegian customers by domestic commercial and savings banks, state banks, insurance companies, finance companies and foreign institutions, as well as bonds and commercial paper. Excluding loans to financial institutions, central government and social security services.

5) Excluding deposits from financial institutions, central government and social security services.

Source: Statistics Norway and DNB

2.2.3 DNB Livsforsikring - market shares

	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June
Per cent	2022	2022	2021	2021	2021	2021	2020	2020	2020
Insurance funds including products with a choice of investment
profile	18.3	18.8	19.4	19.7	19.8	20.2	20.2	20.3	20.1
Corporate market - defined benefit	40.3	40.3	40.4	40.8	40.7	41.1	41.0	41.3	40.9
Corporate market - defined contribution 1)	29.7	29.6	29.3	29.3	29.3	29.2	29.3	29.1	27.6
Retail market	28.9	28.6	28.4	29.7	30.7	32.1	32.8	34.7	35.9

1) Paid-up policies with choice of investment profile, which stem from defined-benefit schemes, are not included in defined-contribution schemes.

Source: Finance Norway

2.2.4 DNB Asset Management - market shares retail market

	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
Per cent	2022	2022	2022	2021	2021	2021	2021	2020	2020
Equity funds	35.5	35.6	34.3	34.5	35.3	35.9	36.4	36.4	36.5
Balanced funds 1)	40.9	41.0	40.5	40.5	40.4	39.3	39.4	39.1	39.3
Fixed-income funds	48.9	49.8	50.8	51.1	52.2	52.2	50.8	51.3	49.5
Total mutual funds	38.3	38.5	37.5	37.7	38.5	38.7	39.1	39.2	39.2

1) Including hedge funds.

Source: Fund and Asset Management Association, Norway

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2.3.1 Personal customers (PC) - Financial performance

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Net interest income	3 936	3 946	3 232	3 070	3 148	3 244	2 982	3 116	3 184
Net other operating income	1 452	1 380	1 265	1 282	1 311	1 400	1 243	1 121	1 173
Total income	5 388	5 326	4 497	4 352	4 459	4 644	4 225	4 238	4 356
Operating expenses	(2 576)	(2 668)	(2 280)	(2 307)	(2 177)	(2 322)	(2 243)	(2 254)	(2 176)
Pre-tax operating profit before impairment	2 812	2 658	2 216	2 045	2 282	2 322	1 982	1 984	2 180
Net gains on fixed and intangible assets						0
Impairment of financial instruments	(98)	(65)	12	(24)	22	114	23	175	167
Pre-tax operating profit	2 714	2 592	2 228	2 021	2 303	2 437	2 005	2 159	2 347
Tax expense	(679)	(648)	(557)	(505)	(576)	(609)	(501)	(540)	(587)
Profit for the period	2 036	1 944	1 671	1 516	1 728	1 827	1 504	1 619	1 760
Average balance sheet items in NOK billion:
Loans to customers 1)	936.2	926.0	835.6	840.1	834.5	825.2	819.2	815.0	802.6
Deposits from customers 1)	591.2	579.5	497.4	490.7	490.7	477.2	464.1	462.7	462.6
Assets under management	195.3	201.4	210.2	209.7	201.0	190.9	178.4	163.9	147.2
Allocated capital 2)	58.2	56.9	49.1	48.5	48.1	47.3	47.4	48.5	49.6
Key figures in per cent:
Cost/income ratio	47.8	50.1	50.7	53.0	48.8	50.0	53.1	53.2	50.0
Ratio of deposits to loans	63.2	62.6	59.5	58.4	58.8	57.8	56.7	56.8	57.6
Return on allocated capital, annualised 2)	13.9	13.7	13.8	12.4	14.2	15.5	12.9	13.3	14.1

Loans to personal customers including loans transferred to DNB Livsforsikring

Personal Banking manages the portfolio on behalf of DNB Livsforsikring. See specification of the effects of the transfer on net interest income and loans to customers in the table below:

Amounts in NOK billion	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Loans to customers 1)	936.2	926.0	835.6	840.1	834.5	825.2	819.2	815.0	802.6
Home mortgages transferred to DNB Livsforsikring - assets under management	6.2	6.5	7.0	7.4	8.1	8.7	9.3	9.8	10.5
Loans to personal customers	942.4	932.5	842.6	847.6	842.6	833.8	828.5	824.9	813.1
Net interest income on the transferred portfolio (NOK million)	5	12	13	15	19	20	18	20	22

1) Loans to customers include accrued interest, impairment and value adjustments. Correspondingly, deposits from customers include accrued interest.

2) The allocated capital is based on the external capital adequacy expectations.

2.3.2 PC - Key performance metrics - main customer divisions

Income figures
Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Net interest income
Private Banking	420	341	300	256	225	205	226	224	205
Personal Banking	3 517	3 605	2 932	2 814	2 923	3 039	2 756	2 893	2 978
Other operating income
Private Banking	232	232	248	245	225	258	243	209	165
Personal Banking	1 220	1 148	1 016	1 037	1 086	1 142	1 000	912	1 008
Net impairment of financial instruments
Private Banking	(5)	(5)	43	22	41	106	101	104	(115)
Personal Banking	(93)	(61)	(31)	(45)	(19)	8	(78)	71	282
Volumes
Amounts in NOK billion	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Net loans to customers (average)
Private Banking	52.6	51.1	49.3	48.1	45.9	44.5	43.9	43.2	42.4
Personal Banking	883.6	874.9	786.3	792.1	788.6	780.7	775.2	771.8	760.2
Deposits from customers (average)
Private Banking	92.3	87.6	77.3	74.0	72.7	71.1	69.4	71.0	70.7
Personal Banking	498.9	492.0	420.1	416.7	417.9	406.1	394.7	391.7	391.9
Allocated capital (average)
Private Banking	4.8	4.8	4.7	4.6	4.4	4.2	4.0	3.8	3.7
Personal Banking	53.4	52.1	44.4	44.0	43.7	43.2	43.4	44.7	45.9
Key figures
Per cent	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Lending spreads
Private Banking	0.84	1.33	1.29	1.39	1.59	1.62	1.61	1.63	1.63
Personal Banking	0.37	1.08	1.07	1.21	1.51	1.65	1.49	1.58	1.70
Deposit spreads
Private Banking	1.05	0.63	0.62	0.40	0.15	0.06	0.21	0.16	0.06
Personal Banking	1.87	0.96	0.87	0.53	0.13	(0.02)	0.15	0.09	(0.05)
Calculated profit on allocated capital
Private Banking	27.3	22.9	25.1	19.9	20.7	26.8	28.0	29.0	7.9
Personal Banking	12.7	12.9	12.6	11.6	13.6	14.4	11.5	11.9	14.6

13 2

in stage 3

0

2.3.3 PC - Risk classification of portfolio

Based on DNB's risk classification system. The volumes represent the expected outstanding amount in the event of default. PD = probability of default. Figures include Sbanken as of 30 June 2022.

PD 0.01% - PD 0.75% - PD 3.00% - Net commitments

2.3.4 PC - Exposure at default by industry segment as at 30 September 2022

2.3.5 PC - Distribution of loan to value

Loan to value per risk grade as at 30 September 2022

		Risk grade					Share of loan to
		Low Moderate		High Total DNB Sbanken		Total	value in per cent *)
Loan to value in NOK billion 1)
0-40	162	33	1	196	44	240	23.4 %
40-60	318	74	3	396	31	426	41.6 %
60-75	162	46	3	212	18	230	22.4 %
75-85	69	23	2	95	10	105	10.2 %
>85	15	5	1	20	3	24	2.3 %
Total exposure at default	727	182	10	918	106	1 024	100.0 %

*) Development in loan to value	30 Sept.	30 June	31 March	31 Dec.	30 Sept.	30 June	31 March	31 Dec.	30 Sept.
	2022	2022	2022	2021	2021	2021	2021	2020	2020
Loan to value in per cent 1)
0-40	23.4 %	23.2 %	20.4 %	19.0 %	19.3 %	19.1 %	17.3 %	16.8 %	15.9 %
40-60	41.6 %	41.6 %	42.1 %	40.6 %	40.9 %	40.7 %	38.2 %	37.5 %	36.1 %
60-75	22.4 %	22.9 %	24.3 %	25.7 %	25.9 %	26.2 %	26.1 %	26.2 %	26.6 %
75-85	10.2 %	10.2 %	11.0 %	11.7 %	11.3 %	11.3 %	14.2 %	15.2 %	16.3 %
>85	2.3 %	2.2 %	2.2 %	3.0 %	2.7 %	2.7 %	4.2 %	4.3 %	5.1 %
Total	100.0 %	100.0 %	100.0 %	100.0 %	100.0 %	100.0 %	100.0 %	100.0 %	100.0 %
Average loan to value DNB	54.2 %	54.3 %	54.8 %	56.0 %	55.7 %	55.8 %	57.9 %	58.4 %	59.5 %
Average loan to value Sbanken	44.7 %	43.7 %
Total exposure at default (NOK billion)	1 024	1 012	902	902	901	893	882	873	863
Total drawn amount (NOK billion)	900	890	796	800	801	794	785	779	772

1) The total exposure at default (EAD) is included in the actual collateral category.

Distribution of home mortgages in the personal customers segment within actual collateral categories. The volumes represent the IRBapproved mortgage portfolio and are the expected outstanding amount in the event of default.

Development in loan to value

2.3.6 DNB Boligkreditt - Average mortgage lending - volumes and spreads

Amounts in NOK billion	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Average loans to customers	683	681	684	690	689	687	683	677	665
Spreads measured against actual funding costs (per cent)	0.12	0.46	0.56	0.64	0.87	0.81	0.75	0.88	0.89

2.3.7 DNB Eiendom - Residential real estate broking in Norway

	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Number of properties sold	4 757	5 921	4 630	4 995	5 751	7 602	6 368	5 976	7 256
Market shares of residential real estate broking, existing
homes (per cent) 1)	15.0	15.1	15.4	15.5	15.9	17.0	17.6	17.8	17.9

1) Source: Eiendomsverdi AS.

X21AO0

2.4.1 Corporate customers (CC) - Financial performance

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Net interest income	8 076	7 128	6 501	6 479	6 176	5 912	5 778	6 023	5 803
Net other operating income	1 943	2 645	2 982	2 679	2 064	2 264	2 139	2 506	1 898
Total income	10 018	9 773	9 483	9 158	8 240	8 176	7 917	8 529	7 701
Operating expenses	(3 701)	(3 669)	(3 536)	(3 585)	(3 272)	(3 289)	(3 238)	(3 138)	(2 992)
Pre-tax operating profit before impairment	6 317	6 104	5 947	5 573	4 968	4 887	4 679	5 391	4 709
Net gains on fixed and intangible assets	(1)	1	1	0	0	(0)	(0)	(1)	0
Impairment of financial instruments	244	276	577	(251)	179	709	94	(1 422)	(947)
Profit from repossessed operations 1)	15	86	49	356	53	(61)	(39)	351	(2)
Pre-tax operating profit	6 575	6 466	6 573	5 678	5 200	5 535	4 734	4 319	3 760
Tax expense	(1 644)	(1 616)	(1 643)	(1 419)	(1 300)	(1 384)	(1 184)	(1 080)	(940)
Profit for the period	4 932	4 849	4 930	4 258	3 900	4 151	3 551	3 239	2 820
Average balance sheet items in NOK billion:
Loans to customers 2)	887.7	848.7	810.0	792.6	786.5	773.6	773.4	796.4	788.0
Deposits from customers 2)	821.5	760.2	749.1	746.2	731.2	703.6	674.0	647.4	621.0
Assets under management	443.7	456.9	482.5	486.7	477.0	463.0	431.8	404.6	382.9
Allocated capital 3)	109.2	105.4	101.9	98.9	99.4	96.2	100.3	103.2	103.9
Key figures in per cent:
Cost/income ratio	36.9	37.5	37.3	39.1	39.7	40.2	40.9	36.8	38.9
Ratio of deposits to loans	92.5	89.6	92.5	94.1	93.0	91.0	87.2	81.3	78.8
Return on allocated capital, annualised 3)	17.9	18.5	19.6	17.1	15.6	17.3	14.4	12.5	10.8

1) Profits from repossessed operations which are fully consolidated in the DNB Group are presented net under "Profit from repossessed operations" under the various segments.

2) Loans to customers include accrued interest, impairment and value adjustments. Correspondingly, deposits from customers include accrued interest.

3) The allocated capital is based on the external capital adequacy expectations.

2.4.2 CC - Key performance metrics - main customer divisions

Income figures
Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Net interest income
Small and Medium-sized Enterprises	3 436	3 160	2 906	2 845	2 670	2 557	2 540	2 722	2 513
Future & Tech Industries	2 553	2 356	2 165	2 071	1 968	1 875	1 894	1 927	1 852
Ocean Industries	1 392	1 205	1 101	1 045	945	923	930	998	1 024
Risk Strategy & Portfolio Management				164	152	161	149	194	188
Other operating income
Small and Medium-sized Enterprises	817	831	859	820	754	743	759	841	676
Future & Tech Industries	684	969	1 032	1 211	970	1 071	894	1 099	813
Ocean Industries	160	708	959	569	424	622	437	383	311
Risk Strategy & Portfolio Management				47	10	(5)	21	57	34
Net impairment of financial instruments
Small and Medium-sized Enterprises	(170)	(126)	(29)	105	82	85	10	11	(95)
Future & Tech Industries	(63)	31	15	(176)	(87)	133	124	39	303
Ocean Industries	473	357	569	(416)	55	415	(167)	(637)	(734)
Risk Strategy & Portfolio Management				205	103	68	101	(828)	(408)
Volumes
Amounts in NOK billion	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Net loans to customers (average)
Small and Medium-sized Enterprises *)	412.6	401.5	391.4	386.7	378.2	369.7	362.1	360.1	350.8
Future & Tech Industries	328.6	306.5	282.6	265.7	264.4	259.7	260.6	275.7	274.0
Ocean Industries	142.8	135.0	129.3	113.6	110.9	109.9	117.4	123.6	125.9
Risk Strategy & Portfolio Management				20.2	22.3	23.0	24.4	27.8	29.6
Deposits from customers (average)
Small and Medium-sized Enterprises *)	308.8	307.0	305.4	312.1	310.5	301.7	294.1	289.6	286.5
Future & Tech Industries	274.7	263.4	265.4	263.9	259.4	249.5	240.7	224.4	207.7
Ocean Industries	221.5	178.5	161.8	148.5	135.0	124.3	109.4	105.1	98.7
Risk Strategy & Portfolio Management				6.0	6.6	6.0	6.3	7.4	7.1
Allocated capital (average)
Small and Medium-sized Enterprises	41.1	41.2	39.8	38.6	37.7	35.7	34.3	35.0	34.2
Future & Tech Industries	34.2	33.9	32.2	30.6	30.1	30.1	30.6	32.7	31.8
Ocean Industries	25.9	23.2	22.8	17.7	17.5	17.3	19.3	21.1	22.6
Risk Strategy & Portfolio Management				5.3	4.9	5.8	6.9	7.7	8.7
*) Small and Medium-sized Enterprises - at end of period:
Net loans to customers	420.6	415.4	400.1	393.4	384.7	378.0	366.8	362.8	359.1
Deposits from customers	310.4	311.6	304.1	311.1	311.7	309.1	300.0	289.8	286.1
Key figures
Per cent	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Lending spreads
Small and Medium-sized Enterprises	2.07	2.32	2.29	2.35	2.46	2.51	2.47	2.53	2.59
Future & Tech Industries	2.22	2.23	2.25	2.26	2.27	2.28	2.23	2.21	2.17
Ocean Industries	2.67	2.73	2.71	2.83	2.88	2.79	2.67	2.76	2.75
Risk Strategy & Portfolio Management				2.54	2.37	2.44	2.25	2.20	2.25
Deposit spreads
Small and Medium-sized Enterprises	1.02	0.53	0.43	0.25	0.04	(0.02)	0.06	0.11	0.04
Future & Tech Industries	0.05	(0.01)	(0.05)	(0.03)	(0.06)	(0.06)	(0.09)	(0.10)	(0.09)
Ocean Industries	0.10	0.07	0.02	(0.00)	(0.03)	(0.04)	(0.04)	(0.05)	(0.03)
Risk Strategy & Portfolio Management				0.15	0.04	0.04	0.05	0.03	0.04
Calculated profit on allocated capital
Small and Medium-sized Enterprises	19.4	17.9	17.9	18.7	17.2	17.3	17.6	18.7	16.0
Future & Tech Industries	17.9	19.4	19.2	18.1	19.6	18.5	17.9	18.2	18.5
Ocean Industries	17.7	23.5	27.9	11.3	15.6	21.2	12.1	4.8	3.0
Risk Strategy & Portfolio Management				20.7	10.0	27.3	9.4	(24.9)	(8.8)

As of the first quarter of 2022, the Risk, Strategy & Portfolio Management division is part of the Ocean Industries division.

2.4.3 CC - Risk classification of portfolio

Based on DNB's risk classification system. The volumes represent the expected outstanding amount in the event of default. PD = probability of default.

2.4.4 CC - Exposure at default by industry segment as at 30 September 2022

X2AO1

2.5.1 Other operations - Financial performance

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Net interest income	241	451	713	737	442	253	470	340	311
Net other operating income	268	1 089	889	1 002	2 208	1 512	1 561	1 083	2 008
Total income	509	1 540	1 602	1 738	2 649	1 765	2 031	1 423	2 319
Operating expenses	17	(506)	(591)	(1 150)	(1 308)	(1 419)	(1 163)	(1 982)	(1 503)
Pre-tax operating profit before impairment	526	1 034	1 011	589	1 341	346	868	(559)	816
Net gains on fixed and intangible assets	1	(0)	0	24	(0)	(103)	(3)	(13)	0
Impairment of financial instruments	1	(1)	1	(0)	0	10	(7)	(3)	4
Profit from repossessed operations 1)	(15)	(86)	(49)	(356)	(53)	61	39	(351)	2
Pre-tax operating profit	514	947	963	256	1 288	313	896	(926)	822
Tax expense	68	(37)	(45)	(101)	(58)	170	5	1 050	141
Profit from operations held for sale, after taxes	26	81	36	225	26	(30)	(71)	292	2
Profit for the period	607	992	953	381	1 256	454	830	416	965
Average balance sheet items in NOK billion:
Loans to customers	104.6	107.1	106.3	109.2	106.1	130.2	134.3	129.7	127.1
Deposits from customers	36.4	28.2	85.9	124.5	106.3	101.4	94.3	70.1	58.0

1) Profits from repossessed operations which are fully consolidated in the DNB Group are presented net under "Profit from repossessed operations" under the relevant segments, with an opposing entry in Other operations. The repossessed operations are fully consolidated in Other operations.

DNB's share of profit in associated companies (most importantly Luminor, Vipps and Fremtind) is included in this segment.

X2AO

2.6.1 Total DNB Markets activity - Financial performance

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Net interest income	300	232	287	272	213	170	168	172	179
Net fees and commissions	613	823	916	1 158	561	998	885	752	499
Net financial items	664	795	892	560	635	591	687	647	796
Total income	1 578	1 850	2 095	1 989	1 409	1 759	1 740	1 572	1 473
Operating expenses	(874)	(896)	(918)	(957)	(810)	(817)	(809)	(815)	(768)
Pre-tax operating profit before impairment	704	953	1 177	1 032	599	942	931	757	706
Net gains on fixed and intangible assets							0
Impairment loss of financial instruments	0	(1)	40	(0)	39	110	91	(21)	(13)
Pre-tax operating profit	704	952	1 218	1 032	638	1 052	1 022	736	693
Tax expense	(176)	(238)	(304)	(258)	(159)	(263)	(256)	(184)	(173)
Profit for the period	528	714	913	774	478	789	767	552	519
Average balance sheet items in NOK billion:
Allocated capital 1)	9.5	8.4	8.6	9.0	8.1	7.6	9.1	10.5	10.5
Key figures in per cent:
Cost/income ratio	55.4	48.5	43.8	48.1	57.5	46.4	46.5	51.8	52.1
Return on allocated capital, annualised 1)	22.0	33.9	43.3	34.1	23.5	41.9	34.1	21.0	19.8

1) Allocated capital corresponds to the external capital adequacy expectations.

2.6.2 Total DNB Markets activity - Break down of revenues

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Fixed income, currencies and commodities	769	728	698	759	587	599	582	593	575
Equities	328	324	351	363	268	333	346	307	220
IBD	317	491	547	742	318	615	484	464	280
Securities services	91	112	91	86	81	83	81	61	62
Interest income on allocated capital	26	11	11	7	2	0	5	8	2
Total customer revenues	1 532	1 667	1 698	1 956	1 255	1 630	1 499	1 433	1 139
Fixed income, currencies and commodities	7	114	373	42	134	120	224	96	327
Equities	16	57	15	(14)	19	8	14	39	3
Interest income on allocated capital	24	12	9	5	1	1	4	4	5
Total risk management revenues	46	183	397	33	154	128	241	139	334
Total income	1 578	1 850	2 095	1 989	1 409	1 759	1 740	1 572	1 473

2.6.3 Total DNB Markets activity - Value-at-Risk

	30 Sept. 2022	Third quarter 2022
Amounts in NOK thousand	Actual		Average Maximum	Minimum
Currency risk	1 870	1 431	2 760	833
Interest rate risk	15 390	17 977	31 060	7 810
Equities	2 586	2 494	3 571	1 772
Diversification effects 1)	(1 300)	(1 197)
Total	18 546	20 706

1) Diversification effects refer to currency and interest rate risk only.

Value-at-Risk is the maximum loss that could be incurred on trading positions from one day to the next at a 99 per cent confidence level.

X23AO

2.6.4 DNB Livsforsikring Group - Financial performance

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Net commissions and fees	431	451	401	407	424	493	458	439	462
Operating expenses	(239)	(230)	(221)	(235)	(219)	(255)	(213)	(180)	(248)
Administration result	192	222	181	172	205	238	245	258	214
Net financial result	(57)	(184)	(97)	223	64	218	107	476	207
Net risk result	123	73	130	(14)	94	22	108	(4)	90
Other 1)				20		(160)		(20)	(0)
Pre-tax operating profit	259	110	214	400	363	318	460	711	510
Tax expense 2)	(110)	(22)	(49)	(371)	(92)	(68)	(89)	(147)	(116)
Profit	149	88	165	29	271	250	371	563	393
Premium reserve at end of period	321 481	324 914	333 328	334 944	329 232	328 541	322 037	306 710	297 599
Non - guaranteed products 3)	144 706	146 905	154 053	155 186	147 806	146 564	139 360	126 971	116 765
Guaranteed products	176 775	178 008	179 275	179 758	181 426	181 977	182 677	179 739	180 834
Total equity at end of period	24 571	24 426	24 338	25 002	24 977	24 706	24 456	24 080	23 509
Return on equity, annualised (%)	2.2	2.1	2.8	3.7	4.8	5.1	6.2	10.6	11.3
Solvency II margin (%) 4)
With transitional rules	201.9	201.8	181.1	190.8	195.5	187.8	189.3	193.8	175.8
Without transitional rules	201.9	201.8	179.8	155.4	158.0	142.1	146.4	124.9	79.5
Capital requirement
With transitional rules	15 532	15 773	16 829	18 138	18 074	19 128	19 367	19 015	18 990
Without transitional rules	15 532	15 773	16 829	18 138	18 074	19 128	19 367	19 015	18 990
Solvency capital
With transitional rules	31 352	31 829	30 476	34 617	35 338	35 917	36 661	36 859	33 392
Without transitional rules	31 352	31 829	30 255	28 186	28 550	27 187	28 362	23 743	15 100
Dividend paid

1) Gain related to the demerger of the portfolio of individual personal risk products in connection with the second part of the Fremtind merger.

2) The tax expense for the fourth quarter of 2021 was affected by an increased provision of NOK 299 million in DNB Livsforsikring, which relates to a tax matter from 2018.

3) Including a limited portfolio of individual guaranteed products.

4) The 10-year Norwegian swap rate increased from 3.27 per cent to 3.52 per cent during the third quarter of 2022. The volatility adjustment decreased from 52 basispoints to 23 basispoints. The solvency margin increased by 0,1 percentage points. The long-term solvency margin goal is 140 per cent. According to the dividend policy, dividends will be paid when the solvency margin without transitional rules is above 110 per cent, and an upstream distribution of capital will be considered when the solvency margin is above 140 per cent.

2.6.5 DNB Livsforsikring Group - Non-guaranteed products income

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Net commissions and fees	258	254	247	256	272	282	264	263	261
Personal customers	72	63	66	62	81	86	78	80	77
Corporate customers	187	190	181	194	191	196	186	184	183
Operating expenses	(149)	(146)	(141)	(122)	(113)	(132)	(109)	(95)	(139)
Administration result	109	108	107	134	159	149	155	155	168
Net financial result	10	(7)	(2)	11	10	25	17	58	32
Net risk result	24	(33)	(1)	(90)	(11)	(68)	6	(84)	49
Profit	144	68	104	55	159	106	178	178	130
Premium income	3 808	4 011	4 054	3 603	3 484	3 532	3 843	3 051	2 993

2.6.6 DNB Livsforsikring Group - Guaranteed products income

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Net commissions and fees	173	197	154	151	152	213	193	176	201
Operating expenses	(90)	(84)	(80)	(114)	(106)	(123)	(104)	(85)	(109)
Administration result	83	113	74	37	45	89	89	90	92
Net financial result	(67)	(177)	(95)	212	54	193	90	418	174
Net risk result	99	106	131	76	105	90	102	80	40
Other				20		(160)		(20)	(0)
Profit	115	42	111	345	204	213	281	568	307
Premium reserve at end of period	176 775	178 008	179 275	179 758	181 426	181 977	182 677	179 739	180 834

2.6.7 Reconciliation of the DNB Livsforsikring Group's and the DNB Group's financial statements

Amounts in NOK million	3Q22
DNB Group:
Net financial result, DNB Livsforsikring	(42)
Net risk result, DNB Livsforsikring	123
Net financial and risk result in DNB Livsforsikring Group	82
Eliminations in the group accounts	2
Net financial and risk result from DNB Livsforsikring Group	83
DNB Livsforsikring Group:
Recorded interest result	(87)
Return on corporate portfolio	60
- Administration result - corporate portfolio	(1)
Allocations to policyholders, products with guaranteed rates of return	(15)
Risk result	123
Net financial and risk result in DNB Livsforsikring Group	82
Eliminations in the group accounts	2
Net financial and risk result from DNB Livsforsikring Group	83
DNB Group:
Commission and fee income etc.	504
Commission and fee expenses etc.	(91)
Other income	2
Operating expenses	(239)
Administration result including upfront pricing of risk and guaranteed rate of return	177
DNB Livsforsikring Group:
Upfront pricing of risk and guaranteed rate of return	47
Administration result	130
+ Administration result - corporate portfolio	(1)
Administration result including upfront pricing of risk and guaranteed rate of return	177

X24AO

2.6.8 DNB Asset Management - Financial performance

Amounts in NOK million	3Q22	2Q22	1Q22	4Q21	3Q21	2Q21	1Q21	4Q20	3Q20
Net interest income	7	3	2	1	(0)	(0)	0	(0)	(0)
Net commission income
- from retail customers	257	256	261	270	264	234	223	202	201
- from institutional clients	180	175	165	227	195	199	176	194	175
Other income	2	(0)	0	5	2	3	6	4	3
Total income	446	434	428	503	460	436	405	399	380
Operating expenses	(173)	(161)	(162)	(191)	(157)	(166)	(153)	(194)	(156)
Pre-tax operating profit	274	273	266	312	303	270	252	205	224
Tax expense	(68)	(68)	(68)	(68)	(76)	(77)	(63)	(44)	(55)
Profit for the period	206	205	199	243	228	193	189	161	169
Assets under management (NOK billion) 1)
Institutional clients - of which DNB Livsforsikring Group 2)	601	607	638	676	659	657	630	601	577
	291 169	296 174	310 179	321 189	315 177	312 172	304 157	298 141	283 123
Retail customers Total	770	782	818	865	836	829	787	742	700
Key figures (%)
Commission margin 3)	0.24	0.25	0.24	0.24	0.24	0.23	0.23	0.22	0.23
- from retail customers	0.58	0.58	0.57	0.60	0.61	0.59	0.60	0.59	0.65
- from institutional clients	0.15	0.15	0.14	0.14	0.14	0.14	0.14	0.13	0.14
Return on equity (annualised)	36.4	35.6	34.1	41.8	44.5	113.7	120.7	107.0	127.0
Cost/income ratio	38.7	37.1	37.8	38.0	34.1	38.0	37.8	48.7	41.1
Assets under management - net inflow *)
Changes from previous quarters (NOK million)
Retail customers	(713)	(58)	(1 149)	5 666	4 523	7 738	8 967	9 249	2 907
Institutional clients	3 009	(5 633)	(1 574)	150	(3 215)	5 358	16 355	4 577	6 676
Total	2 296	(5 691)	(2 723)	5 816	1 308	13 096	25 321	13 826	9 582
*) Excluding dividends:
Retail customers			914				483
Institutional clients			6 894				3 295
Total	0	0	7 807	0	0	0	3 778	0	0
Performance fee	1	0	1	36	4	5	2	31	5
Mutual funds with a sustainability profile (NOK billion) Total assets invested in mutual funds with a sustainability profile	25.2	24.8	26.1	28.4	26.0	25.2	22.3	19.1

1) Assets under management and assets under operation at end of period.

2) Managed on behalf of the DNB Livsforsikring Group.

3) Excluding performance fee.

Chapter 3 - The Norwegian economy

X27AO

X26AO

3.1.1 Basic information about Norway

Area	385 199 square kilometres
Population	5.5 million
Fertility rate	1.6
Life expectancy	M: 81.6 F: 84.7
Work participation rate, per cent 15-74 years	70.7 (M: 73.8 F:67.5)
Gross domestic product 2021	USD 481.7 billion
GDP per capita 2021	USD 89 060
Rating	AAA, Aaa
Currency exchange rate used	8.60 USD/NOK (average 2021)
Net lending 2021	USD 71.9 billion or 14.9 per cent of GDP

Sources: Statistics Norway, Norges Bank, DNB Markets

3.1.2 Government net financial liabilities 2021

Sources: OECD Economic Outlook No. 111 database, June 2022 (Norway: National Budget 2023 (MoF))

3.1.3 GDP growth mainland Norway and unemployment rate

Sources: Thomson Datastream, Statistics Norway

3.1.4 Contribution to volume growth in GDP, mainland Norway

Per cent	2020	2021	F 2022	F 2023	F 2024	F 2025
Household demand	1.9	2.4	3.3	0.6	0.6	0.7
Gross fixed capital formation, mainland companies	(0.5)	0.2	0.5	0.4	0.3	0.2
Gross fixed capital formation, petroleum activity	2.0	0.1	(0.6)	0.6	0.5	(0.1)
Public sector demand	0.9	0.8	(0.0)	0.5	0.6	0.6
Exports, mainland Norway	0.5	1.4	0.9	0.5	0.5	0.5
Imports, mainland Norway	(0.6)	1.0	3.9	1.9	1.3	0.8
Changes in stocks and statistical discrepancies	(3.0)	0.2	3.2	0.2	0.0
GDP, mainland Norway	2.4	4.1	3.3	0.8	1.2	1.1

Sources: Statistics Norway and DNB Markets

3.1.5 Composition of GDP in 2021 3.1.6 Composition of exports in 2021

Sources: Statistics Norway, annual national accounts 13 June 2022

3.1.7 Key macro-economic indicators, Norway

Per cent	2020	2021	F 2022	F 2023	F 2024	F 2025
GDP growth
- mainland Norway	(2.3)	4.1	3.3	0.8	1.2	1.1
- Norway, total	(0.7)	3.9	2.4	1.2	1.3	1.1
Private consumption	(6.6)	4.9	6.7	1.3	1.3	1.4
Gross fixed investment	(5.6)	(0.9)	0.0	2.3	3.5	1.6
Inflation (CPI)	1.3	3.5	5.3	4.0	2.7	2.7
Savings ratio 1)	14.1	14.9	8.4	6.7	8.3	8.9
Unemployment rate	4.6	4.4	3.2	3.5	3.9	4.2

1) Per cent of household disposable income.

Sources: Statistics Norway and DNB Markets

3.1.8 Credit market, 12 month percentage growth

Sources: Thomson Datastream, Statistics Norway

3.1.9 Deposit market, 12 month percentage growth

Sources: Thomson Datastream, Statistics Norway

3.1.10 House prices

Sources: Real Estate Norway, Finn.no, Eiendomsverdi AS, NEF, Statistics Norway and DNB Markets

3.1.11 Household interest burden 1) and debt burden 2)

1) Interest expenses after tax as a percentage of disposable income.

2) Household debt as a percentage of disposable income.

Sources: Statistics Norway, DNB Markets

Appendix

Disclosure for main features of regulatory capital instruments

				Additional Tier 1 capital (part 1 of 2)
	Ordinary shares	NOK Notes	NOK Notes	NOK Notes	USD Notes
1. Issuer	DNB Bank ASA	DNB Bank ASA	DNB Bank ASA	DNB Bank ASA	DNB Bank ASA
2. Unique identifier (e.g. CUSIP, ISIN, or Bloomberg identifier for private placement)	NO0010031479	NO0010858749	NO0012618984	NO0012618992	XS2075280995
3. Governing law for the instrument	Norway	English 7)	English 7)	English 7)	English 7)
Regulatory treatment:
4. Transitional rules	Common Equity Tier 1	Additional Tier 1	Additional Tier 1	Additional Tier 1	Additional Tier 1
5. Post-transitional rules	Common Equity Tier 1	Additional Tier 1	Additional Tier 1	Additional Tier 1	Additional Tier 1
6. Eligible at ind. company/group/group & ind. company level 7. Instrument type	Ind. company and group Common shares	Ind. company and group Other additional Tier 1	Ind. company and group Other additional Tier 1	Ind. company and group Other additional Tier 1	Ind. company and group Other additional Tier 1
8. Amount recognised in regulatory capital (in NOK million as at 30 September 2022)	38 113	2 700	2 750	500	7 774
9. Par value of instrument (amounts in millon in the relevant currency and in	N/A	NOK 2 700	NOK 2 750	NOK 500	USD 850, NOK 7 774
NOK million)
9a. Issue price	Various	100	100	99.97	100
10. Accounting classification 9b. Redemption price	Shareholder's equity N/A	Equity 100	Equity 100	Equity 100	Equity 100
11. Original date of issuance	N/A	27 June 2019	18 August 2022	18 August 2022	12 November 2019
12. Perpetual or dated	N/A	Perpetual	Perpetual	Perpetual	Perpetual
13. Original maturity date	N/A	NA	NA	NA	NA
14. Issuer call subject to prior supervisory approval	No	Yes	Yes	Yes	Yes
15. Optional call date, contingent call dates and redemption amount	N/A	27 June 2024 at par	including 18 August 2027 and ending on (and including) 18 On any date from and February 2028	including 18 August 2027 and ending on (and including) 18 On any date from and February 2028	12 November 2024 at par
16. Subsequent call dates, if applicable	N/A	The issuer has the right to call at every interest payment date thereafter 6)	Any interest payment date after 18 February 2028	Any interest payment date after 18 February 2028	The issuer has the right to call at every interest payment date thereafter 6)
Coupons/dividends:
17. Fixed or floating dividend/coupon	Floating	Floating	Floating	Fixed	Fixed
18. Coupon rate and any related index	N/A	3-month NIBOR + 350 bps	3-month NIBOR + 375 bps	6.72% until 18 Februray 2028. Thereafter 3-month NIBOR + 375 bps	every 5 years at 5y USD T + 4.875%. Fixed interest reset 314 bps
19. Existence of a dividend stopper	Yes	No	No	No	No
20a. Fully discretionary, partially discretionary or mandatory (in terms of timing)	Fully discretionary	Fully discretionary	Fully discretionary	Fully discretionary	Fully discretionary
20b. Fully discretionary, partially discretionary or mandatory (in terms of amount)	Fully discretionary	Fully discretionary	Fully discretionary	Fully discretionary	Fully discretionary
21. Existence of a step-up or other incentive to redeem	N/A	No	No	No	No
22. Non-cumulative or cumulative	Non-cumulative	Non-cumulative	Non-cumulative	Non-cumulative	Non-cumulative
Convertible or non-convertible:
23. Convertible or non-convertible 3)	N/A	Non-convertible	Non-convertible	Non-convertible	Non-convertible
24. If convertible, conversion trigger(s)	N/A	N/A	N/A	N/A	N/A
25. If convertible, fully or partially	N/A	N/A	N/A	N/A	N/A
26. If convertible, conversion rate	N/A	N/A	N/A	N/A	N/A
27. If convertible, mandatory or optional conversion	N/A	N/A	N/A	N/A	N/A
29. If convertible, specify issuer of instrument it converts into 28. If convertible, specify instrument type convertible into	N/A N/A	N/A N/A	N/A N/A	N/A N/A	N/A N/A
30. Write-down features	No	Yes	Yes	Yes	Yes
31. If write-down, write-down trigger (s)	N/A	Yes	Yes	Yes	Yes
32. If write-down, full or partial	N/A	Either full or partial	Either full or partial	Either full or partial	Either full or partial
33. If write-down, permanent or temporary	NA	Temporary	Temporary	Temporary	Temporary
34. If temporary write-down, description of revaluation mechanism	N/A	See footnote 8	See footnote 8	See footnote 8	See footnote 8
35. Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)	Additional Tier 1	Subordinated loans	Subordinated bonds	Subordinated bonds	Subordinated loans
36. Non-compliant transitioned features	No	No	No	No	No
37. If yes, specify non-compliant features	N/A	N/A	N/A	N/A	N/A

			Additional Tier 1 capital (part 2 of 2)
	NOK Notes	NOK Notes	NOK Notes	NOK Notes	NOK Notes
2. Unique identifier (e.g. CUSIP, ISIN, or Bloomberg identifier for private 1. Issuer	NO0010847213 Sbanken ASA	NO0010871494 Sbanken ASA	NO0010885205 Sbanken ASA	NO0010891914 Sbanken ASA	NO0011204125 Sbanken ASA
3. Governing law for the instrument placement)	Norwegian	Norwegian	Norwegian	Norwegian	Norwegian
Regulatory treatment: 4. Transitional rules	Additional Tier 1	Additional Tier 1	Additional Tier 1	Additional Tier 1	Additional Tier 1
5. Post-transitional rules	Additional Tier 1	Additional Tier 1	Additional Tier 1	Additional Tier 1	Additional Tier 1
6. Eligible at ind. company/group/group & ind. company level	Ind. company and group	Ind. company and group	Ind. company and group	Ind. company and group	Ind. company and group
8. Amount recognised in regulatory capital (in NOK million as at 30 7. Instrument type	Other additional Tier 1	Other additional Tier 1	Other additional Tier 1	Other additional Tier 1	Other additional Tier 1
September 2022)	100	100	300	100	100
9. Par value of instrument (amounts in millon in the relevant currency and in	NOK 100	NOK 100	NOK 300	NOK 100	NOK 100
9a. Issue price NOK million)	100	100	100	100	100
9b. Redemption price				100 percent of nominal amount 100 percent of nominal amount 100 percent of nominal amount 100 percent of nominal amount 100 percent of nominal amount
10. Accounting classification	Equity	Equity	Equity	Equity	Equity
11. Original date of issuance	15 March 2019	19 December 2019	17 June 2020	28 August 2020	11 January 2022
13. Original maturity date 12. Perpetual or dated	Perpetual NA	Perpetual NA	Perpetual NA	Perpetual NA	Perpetual NA
14. Issuer call subject to prior supervisory approval	Yes	Yes	Yes	Yes	Yes
15. Optional call date, contingent call dates and redemption amount	21 March 2024 at par	19 December 2024 at par	17 June 2025 at par	28 August 2025 at par	14 January 2027 at par
16. Subsequent call dates, if applicable	Each interest payment date	Each interest payment date	Each interest payment date	Each interest payment date	Each interest payment date
	21 March 2024 after	19 December 2024 after	17 June 2025 after	28 August 2025 after	14 January 2027 after
Coupons/dividends:
18. Coupon rate and any related index 17. Fixed or floating dividend/coupon	3-month NIBOR + 360 bps Floating	3-month NIBOR + 315 bps Floating	3-month NIBOR + 310 bps Floating	3-month NIBOR + 300 bps Floating	3-month NIBOR + 260 bps Floating
19. Existence of a dividend stopper	No	No	No	No	No
20a. Fully discretionary, partially discretionary or mandatory (in terms of	Full flexibility	Full flexibility	Full flexibility	Full flexibility	Full flexibility
20b. Fully discretionary, partially discretionary or mandatory (in terms of amount) timing)	Full flexibility	Full flexibility	Full flexibility	Full flexibility	Full flexibility
21. Existence of a step-up or other incentive to redeem	No	No	No	No	No
22. Non-cumulative or cumulative	Non- cumulative	Non- cumulative	Non- cumulative	Non- cumulative	Non- cumulative
Convertible or non-convertible:
23. Convertible or non-convertible 3)	Convertible (ref. point 24)	Convertible (ref. point 24)	Convertible (ref. point 24)	Convertible (ref. point 24)	Convertible (ref. point 24)
24. If convertible, conversion trigger(s)	See footnote 9	See footnote 9	See footnote 9	See footnote 9	See footnote 9
25. If convertible, fully or partially	Ref. point 24	Ref. point 24	Ref. point 24	Ref. point 24	Ref. point 24
26. If convertible, conversion rate	Ref. point 24	Ref. point 24	Ref. point 24	Ref. point 24	Ref. point 24
27. If convertible, mandatory or optional conversion	Ref. point 24	Ref. point 24	Ref. point 24	Ref. point 24	Ref. point 24
29. If convertible, specify issuer of instrument it converts into 28. If convertible, specify instrument type convertible into	Ref. point 24 Ref. point 24	Ref. point 24 Ref. point 24	Ref. point 24 Ref. point 24	Ref. point 24 Ref. point 24	Ref. point 24 Ref. point 24
30. Write-down features	Yes (ref. point 24)	Yes (ref. point 24)	Yes (ref. point 24)	Yes (ref. point 24)	Yes (ref. point 24)
31. If write-down, write-down trigger (s)	CET1 below 5,125 percent	CET1 below 5,125 percent	CET1 below 5,125 percent	CET1 below 5,125 percent	CET1 below 5,125 percent
32. If write-down, full or partial	see footnote 10	see footnote 10	see footnote 10	see footnote 10	see footnote 10
33. If write-down, permanent or temporary	Temporary (ref. point 24)	Temporary (ref. point 24)	Temporary (ref. point 24)	Temporary (ref. point 24)	Temporary (ref. point 24)
34. If temporary write-down, description of revaluation mechanism	see footnote 11	see footnote 11	see footnote 11	see footnote 11	see footnote 11
35. Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)	Subordinated loans	Subordinated loans	Subordinated loans	Subordinated loans	Subordinated loan
36. Non-compliant transitioned features	N/A	N/A	N/A	N/A	N/A
37. If yes, specify non-compliant features	N/A	N/A	N/A	N/A	N/A

1000

2. Unique identifier (e.g. CUSIP, ISIN, or Bloomberg identifier for private 3. Governing law for the instrument placement) 1. Issuer	NOK loan DNB Bank ASA	NOK loan DNB Bank ASA	NOK loan	NOK loan	NOK loan
			DNB Bank ASA	DNB Bank ASA	DNB Bank ASA
	NO0010818446	NO0010883341	NO0011151672	NO0011151680	NO0011203374
	English 2)	English 2)	English 2)	English 2)	English 2)
Regulatory treatment:
4. Transitional rules	Tier 2	Tier 2	Tier 2	Tier 2	Tier 2
5. Post-transitional rules	Tier 2	Tier 2	Tier 2	Tier 2	Tier 2
6. Eligible at ind. company/group/group & ind. company level	Ind. company and group	Ind. company and group	Ind. company and group	Ind. company and group	Ind. company and group
7. Instrument type	Tier 2 subordinated debt	Tier 2 subordinated debt	Tier 2 subordinated debt	Tier 2 subordinated debt	Tier 2 subordinated debt
8. Amount recognised in regulatory capital (in NOK million as at 30 September 2022)	900	2 500	2 350	450	2 500
9. Par value of instrument (amounts in millon in the relevant currency and in	NOK 900	NOK 2 500	NOK 2 350	NOK 450	NOK 2 500
NOK million)
9a. Issue price	100	100	100	100	100
9b. Redemption price	Redemption at par	Redemption at par	Redemption at par	Redemption at par	Redemption at par
10. Accounting classification	Subordinated loan capital -	Subordinated loan capital -	Subordinated loan capital -	Subordinated loan capital -	Subordinated loan capital -
	amortised cost	amortised cost	amortised cost	amortised cost	amortised cost
11. Original date of issuance	13 March 2018	28 May 2020	17 November 2021	17 November 2021	19 January 2022
12. Perpetual or dated	Dated	Dated	Dated	Dated	Dated
13. Original maturity date	13 March 2028	28 May 2030	17 February 2032	17 February 2032	19 April 2032
14. Issuer call subject to prior supervisory approval	Yes	Yes	Yes	Yes	Yes
15. Optional call date, contingent call dates and redemption amount	falling in (or nearest to) March The interest payment date	The interest payment date falling in May 2025	including 17 November 2026 On any date from and	including 17 November 2026 On any date from and	including 19 January 2027 and On any date from and
	2023.		and ending on (and including)	and ending on (and including)	ending on (and including) 19
			17 February 2027	17 February 2027	April 2027
16. Subsequent call dates, if applicable	Any interest payment date thereafter	Any interest payment date thereafter	Any interest payment date after 17 February 2027	Any interest payment date after 17 February 2027	Any interest payment date after 19 April 2027
Coupons/dividends:
17. Fixed or floating dividend/coupon	Floating	Floating	Floating	Fixed to floating	Floating
18. Coupon rate and any related index	3-month NIBOR + 110 bps	3-month NIBOR + 230 bps	3-month NIBOR + 100 bps	Fixed 2.72%.	3-month NIBOR + 105 bps
				Reset after 17 February 2027: 3-month NIBOR + 100 bps
19. Existence of a dividend stopper	No	No	No	No	No
20a. Fully discretionary, partially discretionary or mandatory (in terms of timing)	Mandatory	Mandatory	Mandatory	Mandatory	Mandatory
20b. Fully discretionary, partially discretionary or mandatory (in terms of	Mandatory	Mandatory	Mandatory	Mandatory	Mandatory
amount)
21. Existence of a step-up or other incentive to redeem 22. Non-cumulative or cumulative	Cumulative No	Cumulative No	Cumulative No	Cumulative No	Cumulative No
23. Convertible or non-convertible 3) Convertible or non-convertible:	Non-convertible	Non-convertible	Non-convertible	Non-convertible	Non-convertible
24. If convertible, conversion trigger(s) 25. If convertible, fully or partially	N/A N/A	N/A N/A	N/A N/A	N/A N/A	N/A N/A
26. If convertible, conversion rate	N/A	N/A	N/A	N/A	N/A
27. If convertible, mandatory or optional conversion	N/A	N/A	N/A	N/A	N/A
28. If convertible, specify instrument type convertible into	N/A	N/A	N/A	N/A	N/A
29. If convertible, specify issuer of instrument it converts into	N/A	N/A	N/A	N/A	N/A
30. Write-down features	No	No	No	No	No
31. If write-down, write-down trigger (s)	N/A	N/A	N/A	N/A	N/A
32. If write-down, full or partial	N/A	N/A	N/A	N/A	N/A
33. If write-down, permanent or temporary	N/A	N/A	N/A	N/A	N/A
34. If temporary write-down, description of revaluation mechanism	N/A	N/A	N/A	N/A	N/A
35. Position in subordination hierarchy in liquidation (specify	Senior bonds	Senior bonds	Senior bonds	Senior bonds	Senior bonds
instrument type immediately senior to instrument)
37. If yes, specify non-compliant features 36. Non-compliant transitioned features	N/A No	N/A No	N/A No	N/A No	N/A No

			Subordinated loans (part 2 of 4)
	SEK loan	SEK loan	SEK loan	SEK loan	SEK loan
2. Unique identifier (e.g. CUSIP, ISIN, or Bloomberg identifier for private 1. Issuer	NO0010818453 DNB Bank ASA	NO0010818479 DNB Bank ASA	DNB Bank ASA XS2180002409	DNB Bank ASA XS2408970759	DNB Bank ASA XS2408967375
3. Governing law for the instrument placement)	English 2)	English 2)	English 2)	English 2)	English 2)
Regulatory treatment:
4. Transitional rules	Tier 2	Tier 2	Tier 2	Tier 2	Tier 2
5. Post-transitional rules	Tier 2	Tier 2	Tier 2	Tier 2	Tier 2
6. Eligible at ind. company/group/group & ind. company level	Ind. company and group	Ind. company and group	Ind. company and group	Ind. company and group	Ind. company and group
7. Instrument type	Tier 2 subordinated debt	Tier 2 subordinated debt	Tier 2 subordinated debt	Tier 2 subordinated debt	Tier 2 subordinated debt
8. Amount recognised in regulatory capital (in NOK million as at 30 September 2022)	683	293	1 464	1 562	488
9. Par value of instrument (amounts in millon in the relevant currency and in	SEK 700, NOK 675	SEK 300, NOK 289	SEK 1 500, NOK 1 446	SEK 1 600, NOK 1 543	SEK 500, NOK 482
NOK million)
9b. Redemption price 9a. Issue price	Redemption at par 100	Redemption at par 100	Redemption at par 100	Redemption at par 100	Redemption at par 100
10. Accounting classification	Subordinated loan capital -	Subordinated loan capital -	Subordinated loan capital -	Subordinated loan capital -	Subordinated loan capital -
	amortised cost	amortised cost	amortised cost	amortised cost	amortised cost
11. Original date of issuance	13 March 2018	13 March 2018	28 May 2020	17 November 2021	17 November 2021
12. Perpetual or dated	Dated	Dated	Dated	Dated	Dated
13. Original maturity date	13 March 2028	13 March 2028	28 May 2030	17 February 2032	17 February 2032
14. Issuer call subject to prior supervisory approval	Yes	Yes	Yes	Yes	Yes
15. Optional call date, contingent call dates and redemption amount	falling in (or nearest to) March The interest payment date 2023.	13 March 2023	The interest payment date falling in May 2025	and ending on (and including) including 17 November 2026 On any date from and	and ending on (and including) including 17 November 2026 On any date from and
				17 February 2027	17 February 2027
16. Subsequent call dates, if applicable	Any interest payment date thereafter	Any interest payment date thereafter	Any interest payment date thereafter	Any interest payment date after 17 February 2027	Any interest payment date after 17 February 2027
Coupons/dividends:
17. Fixed or floating dividend/coupon	Floating	Fixed to floating	Floating	Floating	Fixed to floating
18. Coupon rate and any related index	3-month STIBOR + 106 bps	Fixed 1.61%. Reset after first call date: 3-month STIBOR + 106 bps	3-month STIBOR + 235 bps	3-month STIBOR + 95 bps	Reset after 17 February 2027: 3-month STIBOR + 95 bps Fixed 1.598%.
19. Existence of a dividend stopper	No	No	No	No	No
20a. Fully discretionary, partially discretionary or mandatory (in terms of timing)	Mandatory	Mandatory	Mandatory	Mandatory	Mandatory
20b. Fully discretionary, partially discretionary or mandatory (in terms of amount)	Mandatory	Mandatory	Mandatory	Mandatory	Mandatory
21. Existence of a step-up or other incentive to redeem	No	No	No	No	No
22. Non-cumulative or cumulative	Cumulative	Cumulative	Cumulative	Cumulative	Cumulative
Convertible or non-convertible:
23. Convertible or non-convertible 3)	Non-convertible	Non-convertible	Non-convertible	Non-convertible	Non-convertible
24. If convertible, conversion trigger(s)	N/A	N/A	N/A	N/A	N/A
25. If convertible, fully or partially	N/A	N/A	N/A	N/A	N/A
26. If convertible, conversion rate	N/A	N/A	N/A	N/A	N/A
28. If convertible, specify instrument type convertible into 27. If convertible, mandatory or optional conversion	N/A N/A	N/A N/A	N/A N/A	N/A N/A	N/A N/A
29. If convertible, specify issuer of instrument it converts into	N/A	N/A	N/A	N/A	N/A
30. Write-down features	No	No	No	No	No
31. If write-down, write-down trigger (s)	N/A	N/A	N/A	N/A	N/A
32. If write-down, full or partial	N/A	N/A	N/A	N/A	N/A
33. If write-down, permanent or temporary	N/A	N/A	N/A	N/A	N/A
34. If temporary write-down, description of revaluation mechanism	N/A	N/A	N/A	N/A	N/A
35. Position in subordination hierarchy in liquidation (specify	Senior bonds	Senior bonds	Senior bonds	Senior bonds	Senior bonds
instrument type immediately senior to instrument) 36. Non-compliant transitioned features	No	No	No	No	No
37. If yes, specify non-compliant features	N/A	N/A	N/A	N/A	N/A

				Subordinated loans (part 3 of 4)
	EUR loan	JPY loan	JPY Loan	NOK loan	NOK loan	NOK loan
1. Issuer	DNB Bank ASA	DNB Bank ASA	DNB Bank ASA	Sbanken ASA	Sbanken ASA	Sbanken ASA
2. Unique identifier (e.g. CUSIP, ISIN, or Bloomberg identifier for private placement)	XS1794344827	XS1755125868	XS2521023965	NO0010847205	NO0010871502	NO010885197
3. Governing law for the instrument	English 2)	English 2)	English 2)	Norwegian	Norwegian	Norwegian
Regulatory treatment:
4. Transitional rules	Tier 2	Tier 2	Tier 2	Tier 2	Tier 2	Tier 2
5. Post-transitional rules	Tier 2	Tier 2	Tier 2	Tier 2	Tier 2	Tier 2
6. Eligible at ind. company/group/group & ind. company level	Ind. company and group	Ind. company and group	Ind. company and group	Ind. company and group	Ind. company and group	Ind. company and group
8. Amount recognised in regulatory capital (in NOK million as at 30 7. Instrument type September 2022)	Tier 2 subordinated debt 6 355	Tier 2 subordinated debt 1 875	Tier 2 subordinated debt 675	Tier 2 subordinated debt 125	Tier 2 subordinated debt 125	Tier 2 subordinated debt 350
9. Par value of instrument (amounts in millon in the relevant currency and in	EUR 600, NOK 6 197	JPY 25 000, NOK 1 824	JPY 9 000, NOK 638	NOK 125	NOK 125	NOK 350
NOK million)
9b. Redemption price 9a. Issue price	Redemption at par 99.604	Redemption at par 100	Redemption at par 100	Redemption at par 100	Redemption at par 100	Redemption at par 100
10. Accounting classification	Subordinated loan capital -	Subordinated loan capital -	Subordinated loan capital -	Subordinated loan capital -	Subordinated loan capital -	Subordinated loan capital -
	amortised cost	amortised cost	amortised cost	amortised cost	amortised cost	amortised cost
11. Original date of issuance	20 March 2018	24 January 2018	25 August 2022	15 March 2019	19 December 2019	17 June 2020
12. Perpetual or dated	Dated	Dated	Dated	Dated	Dated	Dated
13. Original maturity date	20 March 2028	24 January 2028	25 February 2033	21 March 2029	19 December 2029	17 June 2030
15. Optional call date, contingent call dates and redemption amount 14. Issuer call subject to prior supervisory approval	20 March 2023 Yes	24 January 2023 Yes	and ending on (and including) including 25 November 2027 On any date from and 25 February 2028 Yes	21 March 2024 Yes	19 December 2024 Yes	17 June 2025 Yes
16. Subsequent call dates, if applicable	None	Semiannual call thereafter	None	Each interest payment date 21 March 2024 after	Each interest payment date 19 December 2024 after	Each interest payment date 17 June 2025 after
Coupons/dividends:
17. Fixed or floating dividend/coupon	Fixed	Fixed	Fixed	Floating	Floating	Floating
18. Coupon rate and any related index	5-year EUR Mid-swap + 77 Reset after call date: Fixed 1.125%. bps	Fixed 0.75%. Reset after first call date: 5-year JPY Mid Swap + 63.8 bps	Fixed 1.350%. Reset after first call date: JGB 0.2 06/20/32 (JB367) + 135.4 bps	3-month NIBOR + 160 bps	3-month NIBOR + 130 bps	3-month NIBOR + 160 bps
19. Existence of a dividend stopper	No	No	No	No	No	No
20a. Fully discretionary, partially discretionary or mandatory (in terms of timing)	Mandatory	Mandatory	Mandatory	Mandatory	Mandatory	Mandatory
20b. Fully discretionary, partially discretionary or mandatory (in terms of amount)	Mandatory	Mandatory	Mandatory	Mandatory	Mandatory	Mandatory
21. Existence of a step-up or other incentive to redeem	No	No	No	No	No	No
22. Non-cumulative or cumulative	Cumulative	Cumulative	Cumulative	Non- cumulative	Non- cumulative	Non- cumulative
Convertible or non-convertible:
23. Convertible or non-convertible 3)	Non-convertible	Non-convertible	Non-convertible	Non-convertible	Non-convertible	Non-convertible
24. If convertible, conversion trigger(s)	N/A	N/A	N/A	N/A	N/A	N/A
25. If convertible, fully or partially	N/A	N/A	N/A	N/A	N/A	N/A
26. If convertible, conversion rate	N/A	N/A	N/A	N/A	N/A	N/A
28. If convertible, specify instrument type convertible into 27. If convertible, mandatory or optional conversion	N/A N/A	N/A N/A	N/A N/A	N/A N/A	N/A N/A	N/A N/A
29. If convertible, specify issuer of instrument it converts into	N/A	N/A	N/A	N/A	N/A	N/A
30. Write-down features	No	No	No	Yes	Yes	Yes
31. If write-down, write-down trigger (s)	N/A	N/A	N/A	According to Norwegian	According to Norwegian	According to Norwegian
32. If write-down, full or partial	N/A	N/A	N/A	Full or partial legislation	Full or partial legislation	Full or partial legislation
33. If write-down, permanent or temporary	N/A	N/A	N/A	Permanent	Permanent	Permanent
34. If temporary write-down, description of revaluation mechanism	N/A	N/A	N/A	see footnote 11	see footnote 11	see footnote 11
35. Position in subordination hierarchy in liquidation (specify	Senior bonds	Senior bonds	Senior non-preferred bonds	Senior bonds	Senior bonds	Senior bonds
instrument type immediately senior to instrument) 36. Non-compliant transitioned features	No	No	No	No	No	No
37. If yes, specify non-compliant features	N/A	N/A	N/A	N/A	N/A	N/A

See footnotes on separate page.

Disclosure of main features of regulatory

X28AO

		Subordinated loans (part 4 of 4)		Perpetual loans
	NOK loan	NOK loan	USD loan	USD loan	USD loan
1. Issuer	Sbanken ASA	Sbanken ASA	DNB Bank ASA	DNB Bank ASA	DNB Bank ASA
2. Unique identifier (e.g. CUSIP, ISIN, or Bloomberg identifier for private placement)	NO0010891922	NO0011203598	LU0001344653	GB0040940875	GB0042636166
3. Governing law for the instrument	Norwegian	Norwegian	English 2)	English 2)	English 2)
Regulatory treatment:
4. Transitional rules	Tier 2	Tier 2	Tier 2	Tier 2	Tier 2
5. Post-transitional rules	Tier 2	Tier 2	Tier 2	Tier 2	Tier 2
6. Eligible at ind. company/group/group & ind. company level	Ind. company and group	Ind. company and group	Ind. company and group	Ind. company and group	Ind. company and group
7. Instrument type	Tier 2 subordinated debt	Tier 2 subordinated debt	Tier 2 subordinated debt	Tier 2 subordinated debt	Tier 2 subordinated debt
8. Amount recognised in regulatory capital (in NOK million as at 30 September 2022)	150	150	2 330	1 625	2 167
9. Par value of instrument (amounts in millon in the relevant currency and in NOK million)	NOK 150	NOK 150	USD 215, NOK 2 132	USD 200, NOK 1 983	USD 150, NOK 1 487
9a. Issue price	100	100	99.15	100	100
9b. Redemption price	Redemption at par	Redemption at par	100	100	100
10. Accounting classification	Subordinated loan capital -	Subordinated loan capital -	Perpetual subordinated loan	Perpetual subordinated loan	Perpetual subordinated loan
	amortised cost	amortised cost	capital - amortised cost	capital - amortised cost	capital - amortised cost
11. Original date of issuance	28 August 2020	11 January 2022	18 November 1985	28 August 1986	21 August 1986
12. Perpetual or dated	Dated	Dated	Perpetual	Perpetual	Perpetual
13. Original maturity date	28 August 2030	14 January 2032
14. Issuer call subject to prior supervisory approval	Yes	Yes	Yes	Yes	Yes
15. Optional call date, contingent call dates and redemption amount	28 August 2025	14 January 2027	November 1990	August 1991	5 years after issue
16. Subsequent call dates, if applicable	Each interest payment date 28 August 2025 after	Each interest payment date 14 January 2027 after	Any interest payment date thereafter	Any interest payment date thereafter	Any interest payment date thereafter

Coupons/dividends:

17. Fixed or floating dividend/coupon	Floating	Floating	Floating	Floating	Floating
18. Coupon rate and any related index	3-month NIBOR + 125 bps	3-month NIBOR + 108 bps		3-month USD LIBOR + 25 bps 6-month USD LIBOR + 13 bps 6-month USD LIBOR + 15 bps
19. Existence of a dividend stopper	No	No	No	No	No
20a. Fully discretionary, partially discretionary or mandatory (in terms of timing)	Mandatory	Mandatory	Partially discretionary	Partially discretionary	Partially discretionary
20b. Fully discretionary, partially discretionary or mandatory (in terms of amount)	Mandatory	Mandatory	Partially discretionary	Partially discretionary	Partially discretionary
21. Existence of a step-up or other incentive to redeem	No	No	No	No	No
22. Non-cumulative or cumulative	Non- cumulative	Non- cumulative	Non-cumulative 4)	Non-cumulative 4)	Non-cumulative 4)
Convertible or non-convertible:
23. Convertible or non-convertible 3)	Non-convertible	Non-convertible	Non-convertible	Non-convertible	Non-convertible
24. If convertible, conversion trigger(s)	N/A	N/A	N/A	N/A	N/A
25. If convertible, fully or partially	N/A	N/A	N/A	N/A	N/A
26. If convertible, conversion rate	N/A	N/A	N/A	N/A	N/A
27. If convertible, mandatory or optional conversion	N/A	N/A	N/A	N/A	N/A
28. If convertible, specify instrument type convertible into	N/A	N/A	N/A	N/A	N/A
29. If convertible, specify issuer of instrument it converts into	N/A	N/A	N/A	N/A	N/A
30. Write-down features	Yes	Yes	No	No	No
31. If write-down, write-down trigger (s)	According to Norwegian	According to Norwegian	N/A	N/A	N/A
	legislation	legislation
32. If write-down, full or partial	Full or partial	Full or partial	N/A	N/A	N/A
33. If write-down, permanent or temporary	Permanent	Permanent	N/A	N/A	N/A
34. If temporary write-down, description of revaluation mechanism	see footnote 11	see footnote 11	N/A	N/A	N/A
35. Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)	Senior bonds	Senior bonds	Senior bonds	Senior bonds	Senior bonds

See footnotes on separate page.

1. Non-compliant transitioned features 37. If yes, specify non-compliant features

No No No No No N/A N/A N/A N/A N/A

Disclosure of main features of regulatory capital instruments - footnotes

X29AO

1) Except for the subordination provisions and certain provisions relating to the payment of interest and principal, which will be governed by the laws of Norway.

2) Except for status and subordination which will be governed by the laws of Norway.

3) All subordinated debt might be written down or converted according to the Guarantee Schemes Act.

4) Non-cumulative but cumulative under certain circumstances, e.g. dividend payment.

5) The borrower undertakes not to make any distribution to Holders of Primary Capital certificates of the Borrower or to other creditors ranking junior to the Lender while any arrears of interest (including any corresponding additional interest amount) remains outstanding in respect of the loan.

6) Subject to the outstanding principal amount of the notes being equal to their original principal amount.

7) The Notes and any non-contractual obligations arising out of or in connection with the Notes will be governed by, and construed in accordance with, English law except that (i) the provisions relating to subordination, Write-Down and Discretionary Reinstatement and any non-contractual obligations arising out of or in connection with such provisions and (ii) any other write-down or conversion of the Notes in accordance with Norwegian law and regulation applicable to the Bank from time to time, will in each case be governed by, and construed in accordance with, Norwegian law.

8) Fully discretionary reinstatement pro rata with any written-down AT1 instruments that are to be reinstated out of the same profits. Subject to the maximum write-up amount and to the maximum distributable amount.

9) The bonds can be written down with final effect or converted to Tier 1 capital if the Financial Supervisory Autority of Norway or another competent public agency orders such a write-down or conversion pursuant to the current legislation at any given time, including due to serious failures strength and when authorities consider the write-down or conversion necessary to avoid winding-up. 10) A partial write-down is carried out by any interest accrued on the bonds being written down first and the bonds then being written down by a pro rata drawing of the bonds between the bond owners or by reducing the redemption price, or in other ways that result in the envisaged financial result. The bond trustee can split the face value in connection with write-downs. The bond yield requirement lapses in the period the bonds are written down.

11) After writing down the bonds, the issuer can write up bonds and pay bond yields in accordance with the current rules at any given time for such write-ups and interest payments.

DNB

Mailing address: P.O.Box 1600 Sentrum N-0021 Oslo

Visiting address: Dronning Eufemias gate 30 Bjørvika, Oslo dnb.no