In the political sphere he became acquainted with John Rettig, who at the time was a candidate as member of parliament.

In 1888, Ernst Victor Engwall was announced as board member of Gefleborgs Läns Sparbank.

In 1889, the Engwall family became principal shareholders of Gefleborgs Läns Sparbank, a previously government owned entity.

After Ernst became vice-chairman, the Engwall family saw rapid growth, financing Borgarskolan,[3] as well as the construction of Gevaliapalatset.

[4] The Engwalls involvement with Rettig, Berggren, and Ericson during the 20th century has since been scrutinized due to monopolistic business practices.

Under Ernst leadership The business expanded beyond a trading house, and ventured into various industries, including mills and a shipping company.