Haugesund Sparebank (HGSB) CMD 2024 presentation summary

Strategic direction and vision

• Focused on being local, close, and personal, with a strong presence in Haugalandet and Sunnhordland.

• New alliance and platform transition announced for December 2024.

• Vision emphasizes contributing to quality of life in the region.

Market position and growth

• Holds a primary market area in Haugesund, Karmøy, Bømlo, Sveio, Tysvær, Vindafjord, and Etne.

• Market share in lending and deposits has shown steady growth, with lending market share at 11.55% in 2024.

• Forretningskapital reached NOK 18.25 billion by Q3 2024.

• Utlånsvekst (loan growth) for 2023 was 9.55%.

Financial performance

• Q3 2024 net profit after tax was NOK 46.7 million, with a return on equity of 8.9%.

• Cost-to-income ratio improved to 45.3% in Q3 2024.

• Core equity tier 1 ratio increased to 18.0% by Q3 2024.

• Stable net interest margin and consistent profitability over recent years.