HØLAND OG SETSKOG SPAREBANK (HSPG) Q3 2025 earnings summary

Executive summary

• Net profit after tax for Q3 2025 was NOK 36.8 million, compared to NOK 38.6 million in Q3 2024, with solid and profitable underlying banking operations.

• Total business capital, including EBK financing, reached NOK 10.3 billion, up 10.6% year-over-year.

• Customer deposits increased by 5.95% to NOK 5,055 million over the past 12 months.

• Gross loans, including EBK, grew by 9.6% to NOK 8.3 billion year-over-year.

Financial highlights

• Net interest income for the first nine months was NOK 93.9 million, down from NOK 99.4 million year-over-year.

• Net commission income (excluding EBK) was NOK 25.5 million, compared to NOK 26.5 million last year.

• Operating expenses increased to NOK 76.0 million from NOK 69.5 million, mainly due to new premises and an 8% rise in personnel costs.

• Cost/income ratio (adjusted for VP) was 59.68%, up from 52.30% last year.

• Loan losses and provisions totaled NOK 24.3 million, down from NOK 27.06 million year-over-year.

Outlook and guidance

• Uncertainty in global trade, inflation, and interest rates remains high, with no increase in problem loans in the retail segment.

• The new housing market remains slow, impacting corporate customers in that segment.

• Focus remains on customer service, competence development, and efficiency for long-term profitability.