Six good reasons for choosing DNB in the new banking environment

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1 Six good reasons for choosing DNB in the new banking environment Bank of America Merrill Lynch, 18th Annual Banking & Insurance CEO Conference September, London Rune Bjerke, CEO of DNB 1

2 Reason 1: DNB s Norwegian platform 2

3 Norway- one of the strongest home markets globally Average real GDP growth Standard deviation GDP growth Norway* Sweden Finland Denmark Norway* Denmark Sweden Finland 3 * Mainland Source: DNB Markets

4 A strong position - Market leader in Norway and leading within selected global industries Significant market share Global leader within selected industries #1 shipping and offshore bank globally One of the world s leading seafood banks DNB Other A leading international energy bank 4 Source: DNB Markets

5 Reason 2: DNB s strong track record of competitive returns 5

6 Sustainable achievements We have delivered on our promises Development in pre-tax operating profit before impairment (NOK billion) CAGR: 7.5 % H113 Pre-tax operating profit before impairment Impairment 6

7 Stable returns in spite of an increasing capital base % 13.6% % 11.4% 11.2% 10.6% Q 2013 CET1 capital (NOK billion) Return on equity (%) 20,0 % 18,0 % 16,0 % 14,0 % 12,0 % 10,0 % 8,0 % 6,0 % 4,0 % 2,0 % 0,0 % 7

8 Reason 3: DNB s favourable funding position 8

9 Highest deposit-to-loan ratio Deposit-to-loan ratio: DNB (Per cent) Deposit-to-loan ratio: Nordic banks (Per cent, 2Q13) DNB Bank 1 Bank 2 Bank 3 Bank 4 Bank 5 9 Source: 2Q 2013 from the financial institutions

10 Stable access to long-term funding and decreasing funding costs year senior and covered bonds Indicative Trading Level Spreads NOK DNB 5Y senior unsecured DNB 5Y covered bonds 10 Source: DNB Markets

11 Reason 4: DNB s potential for growth in quality earnings 11

12 Stable growth in net interest income per cent per cent per cent per cent per cent per cent June 30 Sept. 31 Dec. 31 March 30 June 30 Sept. 31 Dec. 31 March 30 June All numbers are in NOK Million

13 Still high potential in non-capital-intensive areas Bank1 DNB Bank2 Bank3 Bank4 Bank5 Net interest income as a percentage of total income (%) Net other operating income as a percentage of total income (%) 13 Source: Second quarter report 2013 from the financial institutions

14 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Several areas with high expected growth Growth potential in the non-life insurance market Non-life insurance market Norway has the world s highest growth in USD millionaires Development in number of USD millionaires, Norway Issuance of non-financial bonds in Norway at all-time high in 2012 Issuance of non-financial bonds in Norway in NOK billion 5% 18.7% % 64 55,3 DNB Others Source: DNB Markets, DNB Non-life Insurance

15 Reason 5: DNB s firm actions for cost reductions 15

16 Firm actions for cost reductions ensures competitive cost efficiency Cost/income ratio* Nordic banks % 46% 48% 50% 50% 52% Bank 1 DNB Bank 2 Bank 3 Bank 4 Bank 5 16 Source: Company Reports Q213 * Ratios as reported

17 Reason 6: DNB s solid capital base 17

18 Perceived solidity is not best in class different risk weights due to local regulatory requirements Equity Tier 1 ratio Basel III Per cent DNB Bank 1 Bank 2 Bank 3 Bank 4 18 Source: Second quarter report 2013 from the financial institutions

19 Risk-adjusted capital places us among the most solid banks DNB s risk-adjusted capital versus peers % 8.86% 8.25% 8.22% 8.21% 7.78% Bank 1 DNB Bank 2 Bank 3 Bank 4 Bank 5 19 Standard and Poor s 2013

20 Six good reasons for choosing DNB in the new banking environment 1 Our Norwegian platform 2 Our strong track record of competitive returns Our favourable funding position Our potential for growth in quality earnings Our firm actions for cost reductions 6 Our solid capital base 20

21 Six good reasons for choosing DNB in the new banking environment 1 Our Norwegian platform 2 Our strong track record of competitive returns Our favourable funding position Our potential for growth in quality earnings Our firm actions for cost reductions 6 Our solid capital base 21

22 Some kind of sum up- that confirmes that we are creating values in spite of a low growth environment 22

23 Based on leverage ratio we are the most solid bank in our peer group 4.7 «Leverage ratio» (Equity tier 1/total assets) Per cent DNB Bank 1 Bank 2 Bank 3 Bank 4 23 Source: : Second quarter report 2013 from the financial institutions

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