Haugesund Sparebank (HGSB) investor relations material

Executive summary

• Delivered strong core operations and continued robust loan growth, with annualized 12-month loan growth at 9.39% and personal market loan growth at 11.73%.

• Result after tax for H1 2026 was TNOK 135,810, up from TNOK 115,793 year-over-year, driven by growth and the Tysnes Sparebank merger.

• Total comprehensive income was TNOK 106,164, impacted by a value reduction in Eika Gruppen shares after dividend payout.

• The merger with Tysnes Sparebank and entry into the Eika alliance contributed to increased scale and operational synergies.

Financial highlights

• Result before tax for H1 2026 was TNOK 161,610, up from TNOK 142,863 year-over-year.

• Net interest income for H1 2026 was TNOK 202,723, up from TNOK 178,356 year-over-year.

• Net commission and other operating income reached TNOK 82,908, including a TNOK 17,400 gain from the sale of the old headquarters.

• Operating expenses increased to TNOK 117,343, mainly due to more staff and higher depreciation from the new headquarters.

• Cost/income ratio (excl. securities) was 40.81%, up from 37.69% year-over-year.

Outlook and guidance

• Positioned for further growth with strong market, liquidity, and capital base.

• Focus on reducing the cost/income ratio towards the 40% target as synergies from the merger and Eika alliance are realized.