DNB is aiming to increase revenue from commissions and fees in the coming years, the Norwegian bank said at its capital markets day in London.
Most of the fees will come from the investment banking division, DNB Markets.
DNB Markets intends to build global sector positions together with the corporate banking division, Large Corporates and International, within the bank’s target industries, including shipping, ocean services, seafood and renewables.
Chief executive Kjerstin Braathen said: “We have a world-leading position across the maritime sector and a strong one across all the ocean industries.”
The bank said it has an “unrivalled market standing in shipping”.
DNB is targeting a commission and fee income growth of more than 9% annually from 2025 to 2027, compared with 4% to 5% today.
Braathen said: “DNB has a solid foundation for continued profitable growth, stemming from our strong market positions, leading digital platforms and Nordic footprint.
“We will build on our leading position in all our customer segments to create enhanced customer value through our best-in-class digital solutions and competitive edge.”
From 2016 to 2024, DNB Markets was the leading adviser in shipping mergers and acquisitions. It advised in 21 deals worth a total of $24.3bn.
Group executive vice president Alexander Opstad said that in shipping, DNB is the global market leader across mergers and acquisitions, equity capital markets and debt capital markets
“DNB has reduced its lending towards the sector by approximately half in the past 10 years but actually grown revenues through being a holistic adviser across all financing opportunities,” he said.
The division was the bookrunner in 57 equity capital markets transactions worth $6.1bn.
Opstad said: “The position has been built through strong cooperation between Large Corporates and DNB Markets while standing on the shoulders of an industry cluster with a long and proud Norwegian legacy.”
DNB also arranged 59 high-yield bond issues totalling $2.1bn.
In October, DNB announced it would buy Swedish investment bank Carnegie for about SEK 12bn ($1.1bn).
The acquisition of Carnegie is pending regulatory approval, DNB said.
“We aim to be the bank in our region to execute the highest number of advisory deals,” Opstad added.
DNB Markets will be renamed DNB Carnegie after the transaction closes.
The bank said: “[There are] ample growth opportunities for DNB Carnegie based on combined strengths and [a] goal to become the leading Nordic investment bank.”
