Haugesund Sparebank

What Haugesund Sparebank does

Haugesund Sparebank is a Norwegian regional savings bank founded in 1928, headquartered at Smedasundet 77 in Haugesund, and listed on the Oslo Stock Exchange (ticker ose:HGSB). It provides consumer loans, residential mortgages (including youth, low-LTV, and green variants), savings products (standard accounts, BSU youth housing scheme, fixed deposits), daily banking (BankID, Vipps, cards, mobile/internet bank), insurance distribution, and digital legal services. The bank operates as a horizontal, retail-focused institution serving private individuals and SMEs across the Haugesund/Sunnhordland catchment.

Revenue is primarily earned through net interest income on mortgages and consumer loans (including refinancing loans passed through Kredittbanken ASA), with secondary streams from deposits, account/card/transaction fees, and insurance commissions on policies underwritten by Fremtind Forsikring. The product suite also includes fund savings (Eika Kapitalforvaltning), micro-savings via the Smartspar app, and embedded legal documentation (Justify AS). Distribution runs through 12 branches post-merger, a digital self-service channel, and personal advisory ('book-møte').

The bank migrated onto Tietoevry Banking's modernization platform in October 2024 alongside the completion of its merger with Tysnes Sparebank, joining the Eika Group alliance. Haugesund Sparebank holds a 43.1% stake in the combined entity. As part of the Eika Alliance, it was recognized as best in Norway for customer service in 2025. Governance was refreshed with the election of Hege Skogland Mokleiv as the bank's first female board chair.

Name

Haugesund Sparebank

Legal name

Haugesund Sparebank

Website

https://haugesund-sparebank.no

Company type

Private

Founded year

1928

Operating status

Operating

Headcount range

51–100 employees

Short description

Haugesund Sparebank is a Norwegian regional savings bank offering mortgages, consumer loans, deposits, insurance, and savings products to retail and SME customers across Haugesund, Haugalandet, and Sunnhordland. It is a member bank of the Eika Group alliance.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

Keywords

• Retail banking services
• Residential mortgage lending
• Consumer loan refinancing
• Savings and deposits
• Insurance distribution

Headquarters

HQ city

Haugesund

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Net Interest Income: Primary revenue stream from interest rate spreads on mortgage loans (boliglån), consumer loans (forbrukslån), and business lending. The bank offers residential mortgages, car loans, refinance loans, and credit cards.
2. Deposit Taking and Savings Products: The bank takes retail deposits through savings accounts (sparekonto), BSU accounts, and term deposits, paying interest to depositors and earning the spread.
3. Fee and Commission Income: Income from account fees, card fees, payment transaction fees, loan establishment fees, and insurance distribution commissions (partnered with Fremtind Forsikring).
4. Refinancing Loan Distribution: Refinancing loans for unsecured consumer debt are provided by Kredittbanken ASA and distributed through the bank. The bank earns distribution/referral fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels7 records

Core offering

Haugesund Sparebank is a regional Norwegian savings bank that provides retail and small-business banking services across Haugalandet and Sunnhordland. Its core offerings are residential mortgages, consumer loans and refinancing, savings and deposit accounts (including BSU youth housing savings), daily banking (current accounts, payment cards, mobile/internet banking), insurance distribution through Fremtind Forsikring, and fund savings. Digital legal services are additionally distributed through Justify AS.

Product overview

Haugesund Sparebank operates as a regional Norwegian savings bank offering a comprehensive suite of banking, insurance, and savings products. The bank functions as a local bank within the Eika Alliance, having completed its merger with Tysnes Sparebank in October 2024. Core offerings include: (1) Dagligbank - daily banking services with BankID, Vipps, and digital access; (2) Boliglån - mortgage products including standard, young buyer, green, and frame loans; (3) Forbrukslån - consumer and refinancing loans via Kredittbanken; (4) Forsikring - insurance portfolio through Fremtind covering home, contents, travel, cabin, vehicles, and valuables; (5) Savings products including Sparekontoer, BSU youth housing savings, and Fondssparing investment funds; (6) Juridiske Tjenester - digital legal services via Justify. The bank runs on Tietoevry Banking's modernization platform post-migration. Services are delivered through 12 branches across Haugalandet and Sunnhordland, with digital channels supporting both personal and business customers.

Differentiator

Problem solved

Functional benefit

Products and services

• Dagligbank (Daily Banking) Everyday banking services including current accounts (brukskonto), bank cards, credit cards, AvtaleGiro direct debits, eFaktura e-invoices, international payments, BankID authentication, mobile and netbank access, and Vipps mobile payments, for personal and business customers.
• Boliglån (Mortgage / Home Loan) Residential mortgage products including standard mortgages within 75% LTV, Boliglån Ung for ages 18–33, Boliglån 55% for low-LTV with best rates, green mortgages (grønt boliglån) for energy class A/B properties, frame loans (rammelån), construction loans (byggelån), and fixed-rate options.
• Forbrukslån (Consumer Loan and Refinancing) Unsecured consumer loans including refinancing of existing consumer debt. The bank markets an average customer saving of NOK 9,500 from consolidating multiple loans and credit cards. Loans for refinancing are provided by Kredittbanken ASA and distributed through the bank.
• Billån (Car Loan) Car loan product for financing private vehicle purchases, targeted at retail customers in the bank's service region.
• Forsikring (Insurance Distribution) Full insurance portfolio including home, contents, travel, cabin, vehicle, valuable items, bunad (national costume), and youth insurance, all underwritten by Fremtind Forsikring and distributed through the bank. Policies can be viewed, changed, and claims reported directly from internet and mobile bank.
• Sparekontoer (Savings Accounts) Savings account products including standard Sparekonto (interest from first krone), Sparekonto 31 (31-day notice savings with higher rate), Sparekonto Pluss (higher rate with six fee-free annual withdrawals and prior-year interest access), and fixed-term deposits (fastrenteinnskudd).
• BSU (Boligsparing for Ungdom / Youth Housing Savings) Youth housing savings scheme for customers under 34 years offering the bank's best savings interest rate, annual tax deductions of up to NOK 2,750, and favorable loan terms. Maximum annual contribution of NOK 27,500 and total cap of NOK 300,000.
• Fondssparing (Fund Savings and Investment) Investment fund savings products including mutual funds, equity savings accounts (aksjesparekonto) with tax-deferred gains, pension savings (pensjonssparing), and the Smartspar micro-savings app for automated round-up saving on card purchases.
• Juridiske Tjenester (Digital Legal Services) Digital legal services including cohabitation agreements (samboerkontrakt), wills (testament), advance power of attorney (fremtidsfullmakt), and gifts/advances on inheritance, delivered through Justify AS with attorney quality assurance.
• Mobilbank og Nettbank (Mobile and Internet Banking Platform) Digital banking platform providing mobile and netbank access for personal and business customers, with BankID authentication, account management, transfers, loan applications, digital loan status tracking, and insurance management. Separate URLs are maintained for former Tysnes Sparebank customers.

Quantifiable outcome

• Customers save an average of NOK 9,500 by refinancing multiple loans and credit cards through the bank.
• +2 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability2 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Eika GroupcoreStrategic or Co-development Partner · 8 October 2024Haugesund Sparebank is a member bank of the Eika Group, a Norwegian alliance of regional savings banks. The membership provides shared banking infrastructure, product platforms (insurance, funds, legal services), brand and marketing resources, and purchasing power. Through Eika, the bank offers Eika-branded funds, insurance products via Fremtind, and access to the Eika mobile bank application. The bank joined the group following its merger with Tysnes Sparebank in 2024.
• Tietoevry BankingcoreTechnology or Integration · 8 October 2024Haugesund Sparebank migrated to Tietoevry Banking's modernization platform in October 2024, coinciding with the completion of its merger with Tysnes Sparebank. The migration was a collaborative effort enabling the bank to utilize new digital banking solutions for retail and corporate customers.
• Tysnes SparebankcoreStrategic or Co-development Partner · 2 November 2023Haugesund Sparebank merged with Tysnes Sparebank, with the combined bank operating under the Haugesund Sparebank name. The merger created a bank operating 12 offices across Haugalandet and Sunnhordland. Tysnes Sparebank had reported revenues of NOK 81.4 million and EBITDA of NOK 46.3 million in FY22. Post-merger, Haugesund Sparebank holds a 43.1% stake in the combined entity. Continued sponsorship agreements and employment stability were maintained.
• Fremtind ForsikringcoreChannel Partner/ Reseller/ DistributorAll insurance products sold by Haugesund Sparebank — including home insurance (innboforsikring), travel insurance (reiseforsikring), cabin insurance (hytteforsikring), valuable items insurance (verdisaksforsikring), and bunad insurance (bunadsforsikring) — are underwritten and delivered by Fremtind Forsikring. The bank acts as the distribution channel, earning commission on each policy sold.
• Kredittbanken ASAminorChannel Partner/ Reseller/ DistributorRefinancing loans for unsecured consumer debt (forbruksgjeld) are provided by Kredittbanken ASA and distributed through Haugesund Sparebank's channels. The bank markets these loans on its website and earns referral/distribution fees.
• Aktiv EiendomsmeglingminorGTM or Marketing PartnerHaugesund Sparebank partners with Aktiv Eiendomsmegling for real estate valuation and sales services. The partnership provides referrals for mortgage loans during property transactions, and Aktiv provides free property valuations to potential mortgage customers.
• Justify ASminorChannel Partner/ Reseller/ DistributorJustify AS provides digital legal services (samboerkontrakt, testament, fremtidsfullmakt) that are offered through Haugesund Sparebank's website. Justify handles the digital process including identity verification and lawyer quality assurance.

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• DNB Bank ASA: Norway's largest financial services group and a broad incumbent competitor across retail, SME, and mortgage banking; competes head-on with Haugesund Sparebank for deposits and mortgages in Haugalandet but operates at national scale with a much broader product platform.
• SpareBank 1 SR-Bank: Large regional savings bank alliance member on Norway's west coast, serving retail and corporate customers with full banking, insurance, and capital-markets services; competes directly for western Norway mortgage and SME customers while operating a different alliance (SpareBank 1, not Eika).
• Nordea Bank Norge: Nordic universal bank with a strong Norwegian retail presence; competes on mortgages, deposits, daily banking, and insurance distribution — a broad incumbent that pressure-prices regional savings banks in major Norwegian metros.

Others

• Eika Gruppen: Alliance/parent-organisation of which Haugesund Sparebank is a member; provides shared infrastructure, product platforms, and brand support to a network of Norwegian savings banks and is central to the bank's operating model.
• Fremtind Forsikring: Sole insurance underwriter for Haugesund Sparebank's bancassurance offering; an Eika-alliance partner and ecosystem participant rather than a direct competitor — included as it defines the bank's insurance economics and product scope.

Direct peers

• Sparebanken Øst: Norwegian regional savings bank in the eastern corridor offering a similar full-service retail and SME banking proposition under the same savings-bank legal form; useful for benchmarking cost-to-income and NIM performance.
• Sparebanken Sør: Regional Norwegian savings bank (sparebank) offering mortgages, consumer loans, and wealth products to retail and SME customers; operates the same savings-bank model with a comparable deposit-funded lending balance sheet and comparable headcount/scale band.
• Sparebanken Vest: Norwegian regional savings bank headquartered in Bergen that operates across western Norway — directly comparable in geography (overlapping Haugalandet/Sunnhordland), product suite (mortgages, deposits, insurance distribution), and savings-bank charter, but at materially larger scale.
• Aurskog Sparebank: Smaller Norwegian savings bank operating in the Eika-alliance network with very similar product mix (deposits, mortgages, Fremtind insurance distribution) — essentially the same playbook as Haugesund Sparebank at a smaller scale.

Emerging players

• Kredittbanken ASA: Niche Norwegian consumer-credit bank that supplies refinancing loans distributed through Haugesund Sparebank; competes in unsecured consumer lending and represents both a partnership channel and a direct competitor for high-yield personal-loan customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks4 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/haugesund-sparebank
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Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Haugesund Sparebank