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Report

The IMD Sustainability Report 2021

IMD believes a sense of shared responsibility is essential for the prosperity of individuals, businesses, communities and nations.

45 pages

April 2022

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Challenging what is and inspiring what could be, the institute develops leaders who transform organizations and contribute to society. IMD supports responsible leaders who act with integrity, contribute to sustainable performance and have a positive impact on the world.

IMD has built a sustainability strategy to incorporate both the institute’s influence on business and leaders as well as its commitment to sustainable campus operations and as a responsible employer. As a leading global business school and a key institution in the Lac Léman region of Switzerland, IMD embeds sustainability in teaching, research, and outreach, while adhering to sustainable business practices and to improve our social and environmental footprint.

The IMD Sustainability Report 2021 can be read in full here:

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Article

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Case Study

DNB Bank: Embracing startups as a growth strategy

Strategy Customer Centricity Business to Business

By Goutam Challagalla, Francis D. Kim and Philip Charles Zerrillo

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DNB Bank: Embracing startups as a growth strategy

By Goutam Challagalla Francis D. Kim and Philip Charles Zerrillo
Case reference: IMD-2706 ©2025

Summary

The case examines how DNB Bank, Norway's largest financial services company, reshaped its growth strategy by focusing on startups and SMEs, a segment traditionally considered unprofitable. In 2013, DNB launched a bold SME strategy, deliberately choosing a gross approach to win new startups early in their life cycle rather than a net approach focused on the profitability of existing accounts. This strategy, enabled by a significant investment in digitalization and a cultural shift toward customer lifecycle engagement, generated exceptional results and by 2025, the SME segment delivered the highest return on allocated capital. The journey, however, was not linear. A European regulatory crackdown in 2019, following the Danske Bank money laundering scandal, forced DNB to shift its focus from growth to compliance. The bank reallocated 1,000 employees to KYC units, dismantling its startup-friendly onboarding process and causing customer acquisition to stall. As competitors advanced, DNB had to orchestrate a strategic Restart effort to rebuild its SME leadership. This involved launching superior digital tools, providing automated lending decisions within a minute, and renewing its customer-centric focus. By 2025, the recovery was well underway, with one in three Norwegian SMEs banking with DNB. The case challenges students to evaluate DNB's past choices, the critical balance between growth and compliance, and the future of SME banking as AI and digital agents transform customer interactions.

Reference IMD-2706

Organization DNB Bank

Industry Finance and Insurance, Banking

Available Languages English

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Research Information & Knowledge Hub for additional information on IMD publications