Haugesund Sparebank (HGSB) Q1 2026 earnings summary

Executive summary

• Stable core operations and continued strong loan growth, with a 27.56% increase in loans on balance and 32.37% including transferred volumes year-over-year.

• Q1 2026 pre-tax profit was TNOK 57,247, down from TNOK 62,970 last year, mainly due to higher depreciation and negative securities performance.

• Net interest income improved, while costs rose due to the Tysnes Sparebank merger and new headquarters.

• The merger with Tysnes Sparebank significantly increased balance sheet figures and equity.

Financial highlights

• Net interest income: TNOK 102,893 (Q1 2026), up from TNOK 89,269 (Q1 2025).

• Pre-tax profit: TNOK 57,247 (Q1 2026) vs. TNOK 62,970 (Q1 2025).

• Net profit after tax: TNOK 44,347 (Q1 2026) vs. TNOK 48,670 (Q1 2025).

• Total assets: TNOK 20,648,800, up 24.86% year-over-year.

• Equity: TNOK 2,799,744, up from TNOK 2,138,006 last year.

• Cost/income ratio (excl. securities): 49.14% (Q1 2026) vs. 44.49% (Q1 2025).

Outlook and guidance

• Positioned for further growth and development in the core market, with strengthened competitiveness post-merger.

• Focus on cost reduction throughout 2026.