Question 1

What is Høland og Setskog Sparebank?

Accepted Answer

Høland og Setskog Sparebank is an independent Norwegian savings bank headquartered in Bjørkelangen, Norway. The bank serves the Akershus region, providing comprehensive banking services to retail customers, small businesses, and local institutions. With approximately 26-42 employees, the bank maintains a strong local presence while offering modern digital banking services alongside traditional branch banking.

The bank is listed on the Oslo Stock Exchange under the ticker symbol HSPG and is a member of the Norwegian savings bank system.

The bank is listed on the Oslo Stock Exchange under the ticker symbol HSPG and is a member of the Norwegian savings bank system.

Question 2

When was Høland og Setskog Sparebank founded?

Accepted Answer

Høland og Setskog Sparebank was founded in December 1849 as Høland Præstgjelds Sparebank. This makes it one of the oldest continuously operating financial institutions in the Akershus region, with over 175 years of history serving local communities.

The bank was formerly known as Høland Sparebank before changing its name to Høland og Setskog Sparebank in 2010, reflecting its expanded service area and commitment to both the Høland and Setskog districts.

Question 3

Where is Høland og Setskog Sparebank headquartered?

Accepted Answer

Høland og Setskog Sparebank is headquartered in Bjørkelangen, Norway, at Bjørkeveien 20, 1940 Bjørkelangen. Bjørkelangen is a small town located in the Aurskog-Høland municipality in Akershus county, approximately 60 kilometers east of Oslo.

Question 4

Where does Høland og Setskog Sparebank operate?

Accepted Answer

Høland og Setskog Sparebank primarily operates in the Akershus region of southeastern Norway, with particular focus on the Aurskog-Høland municipality and surrounding areas. The bank's service area includes the Høland and Setskog districts, rural and semi-rural communities located east of Oslo in the Romerike area.

The bank maintains its main office in Bjørkelangen and serves customers throughout the region through both physical banking facilities and comprehensive digital banking channels.

Question 5

What services does Høland og Setskog Sparebank offer?

Accepted Answer

Høland og Setskog Sparebank offers a full range of banking services for personal and business customers:

Retail Banking: Savings accounts, pension accounts, mortgage loans, consumer loans, car loans, and specialized financing for recreational vehicles including motorbikes, ATVs, motorhomes, caravans, snowmobiles, and boats.

Business Banking: Business loans for small and medium enterprises, working capital financing, bank guarantees, overdrafts, leasing services, and factoring and invoice sales solutions.

Payment Services: Debit cards, credit cards, domestic and international payment services, and online payment solutions.

Digital Banking: Mobile banking applications and comprehensive online banking platforms enabling customers to manage accounts, make transfers, apply for loans, and access banking services remotely.

Insurance Products: A range of insurance products for personal and business customers, distributed through the bank's network.

Investment Services: Placement and pension services, including authorized financial advisory services to help customers plan for retirement and manage investments.

Refinancing Services: Mortgage refinancing and debt consolidation services to help customers optimize their loan structures.

Question 6

What makes Høland og Setskog Sparebank unique?

Accepted Answer

Høland og Setskog Sparebank stands out through several distinctive characteristics:

Long-Standing Local Presence: With 175 years of history in the region, the bank has deep roots in the local community and extensive knowledge of the area's economic dynamics and customer needs.

Independence: Unlike many small Norwegian banks that have merged into larger entities, Høland og Setskog Sparebank has maintained its independence while modernizing its operations and expanding its service offerings.

Publicly Traded: The bank's equity certificates are listed on the Oslo Stock Exchange (ticker: HSPG), providing liquidity for investors while maintaining the savings bank governance structure that prioritizes local community interests.

Specialized Recreational Lending: The bank offers specialized financing for various recreational vehicles popular in Norway, including snowmobiles, boats, ATVs, and motorhomes, reflecting understanding of regional lifestyle preferences.

Balanced Approach: The bank combines traditional relationship banking with modern digital services, enabling convenient access while maintaining personalized customer service.

Strong Financial Performance: The bank has demonstrated solid profitability with returns on equity around 12-13% and maintains strong capital ratios, positioning it well for continued growth.

Question 7

What type of financial institution is Høland og Setskog Sparebank?

Accepted Answer

Høland og Setskog Sparebank is a Norwegian savings bank (sparebank), which is a specific institutional form under Norwegian banking law. Savings banks in Norway operate as self-owned financial institutions where equity is held collectively for the benefit of the local community rather than by traditional shareholders.

The bank has issued equity certificates (egenkapitalbevis) that are traded on the Oslo Stock Exchange. Equity certificate holders receive dividends and capital appreciation but have limited voting rights compared to traditional shareholders. The majority of the bank's equity and control remains with the equity certificate fund and the foundational capital, ensuring the bank's independence and local focus.

As a fully licensed credit institution, Høland og Setskog Sparebank is authorized and supervised by Finanstilsynet (the Financial Supervisory Authority of Norway). Customer deposits are protected by the Norwegian Banks' Guarantee Fund (Bankenes sikringsfond - NO_BSI), which provides deposit insurance coverage in accordance with Norwegian and EU regulations.

The bank operates as a universal bank serving both retail and business customers in its local market area.

Høland og Setskog Sparebank

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