Best bank: DNB
Under the steady leadership of chief executive Kjerstin Braathen, Norway’s biggest bank continues to perform strongly and is far from relaxing its efforts just because of its size. DNB faces an surprising array of competition in such a small market, with more than 100 banks operating in the country, but its progress ensures it remains Norway’s best bank for another year.
Revenues soared 24%, mostly driven by net interest income but also by an 8% increase in commissions and fees. Pre-tax profits were up 24%, with the bank reporting a fine result across all its businesses and especially from corporate clients. Despite having such prominence in traditional domestic banking, DNB is a remarkably diversified institution. Some 70% of its profit in the fourth quarter of 2023 came from outside its retail business.
AfE 2024
Total assets rose 6%, while customer loans and deposits were each up about 1.8%.