DNB is Norway's dominant bank (>40% market share in mortgages) and the primary financier of Norway's offshore energy sector — benefiting from elevated oil investment without direct commodity exposure. Capital position well above requirements, dividend yield ~6%, and consistent buybacks. Acquisition of Sbanken strengthened digital position. Low credit risk due to strong Norwegian labour market and sovereign backstop.
Thesis reviewed May 29, 2026
DNB Bank ASA is headquartered in Norway, which is currently showing moderate signals.
🇳🇴Norway48NEUTRALView Norway risk detail →🏦Financials100NEUTRAL| Ticker | Company | Score | Gap | Signal Δ | Action |
|---|---|---|---|---|---|
| GGAL | Grupo Financiero Galicia S.A. | 90 | +13% | ↓52% | ENTRY |
| MELI | MercadoLibre | 90 | -14% | ↓52% | AVOID |
| BBAR | BBVA Banco BBVA Argentina SA | 90 | +21% | ↓52% | ENTRY |
| VIV | Telefonica Brasil (Vivo) | 90 | +8% | ↓52% | ENTRY |
| UBS | UBS Group AG | 90 | +17% | ↓52% | ENTRY |
| CIB | Bancolombia S.A. | 90 | +9% | ↓52% | NEUTRAL |
| DB | Deutsche Bank AG | 90 | -13% | ↓52% | AVOID |
Investors who hold DNBHY may also have indirect exposure through these country funds.
DNB Q4 NIM at 1.64%, above guidance; Norwegian mortgage repricing complete
Offshore energy lending book +9% YoY as new field development accelerates
CET1 ratio 18.2%; buyback NOK 3B approved for 2026