Morgan Stanley Forecasts Better-than-Expected DNB Bank Q2 Net Profit

DNB Bank's (DNB.OL) net profit for the three months ended June 30 is expected to come in ahead of market forecasts, Morgan Stanley said in a July 10 European earnings preview report. The research firm anticipates a group net profit of 9.95 billion Norwegian kroner, down 5% year over year but higher than the Visible Alpha consensus of 9.80 billion kroner. Operating revenue is projected to rise 1% over the period to 22.68 billion kroner, above the consensus estimate of 22.31 billion kroner. "Regarding provisions, DNB does not maintain a material management overlay, which can result in relatively volatile credit losses from quarter to quarter. Given elevated macroeconomic and geopolitical uncertainty, combined with the bank's sizeable exposure to the Large Corporate segment, the risk of idiosyncratic impairment charges remains elevated in the quarter," analysts wrote. "Overall, into 2Q26 results we are slightly more conservative than consensus on both costs and provisions, but still arrive at net profit that is c.2% above consensus." The Oslo-listed stock is rated underweight. DNB is due to publish its latest quarterly results on Tuesday.