DNB Profit Beats as Investment Banking Income Reaches Record
- Fees and commissions from investment banking services rose 60%
- Debt capital markets performance was ‘strong’ in the quarter
A DNB Bank ASA branch in Oslo, Norway.
Photographer: Fredrik Solstad/BloombergThis article is for subscribers only.
Norway’s largest lender, DNB Bank ASA, reported better-than-expected net income in the second quarter after a surge in the number of bond deals managed by the bank.
The Oslo-based bank’s net income grew 12%, to 10.3 billion kroner ($960 million) in the three months through June, beating a 9.3 billion-krone estimate seen by analysts. A 60% jump in investment banking service income drove up net commissions and fees to 3.4 billion kroner for the quarter.