HØLAND OG SETSKOG SPAREBANK (HSPG) Q3 2026 earnings summary

Executive summary

• Q3 2026 profit after tax was NOK 7.6m; the nine-month period recorded a NOK 7.4m loss versus NOK 36.8m profit in 9M 2025, driven by higher loan-loss charges and workout costs.

• Gross loans including Eika Boligkreditt (EBK) reached NOK 8.698bn, up 5.18% YoY; customer deposits were NOK 4.845bn, down 4.15%.

Financial highlights

• 9M net interest income was NOK 90.9m versus NOK 93.9m; including EBK financing, net interest income was NOK 95.6m versus NOK 100.3m.

• 9M net commission income excluding EBK was NOK 28.2m versus NOK 26.4m; total operating costs rose to NOK 88.8m from NOK 76.0m.

• 9M pre-impairment profit was NOK 49.4m versus NOK 69.5m; loan impairment charges were NOK 62.9m versus NOK 24.3m.

• 9M result after tax was -NOK 7.4m versus NOK 36.8m; EPS per equity certificate was -NOK 4.10 versus NOK 5.55. Q3-only net profit was NOK 7.6m versus NOK 6.3m.

Outlook and guidance

• A weak full-year result is expected, with no dividend payment anticipated.

• Work to resolve and limit losses on distressed exposures remains a priority; completion is taking longer than expected, while external-resource costs are expected to decline through winter.

• Distressed exposures are expected to decrease during 2026.