Financial highlights
Consolidated financial highlights and share data
Main
components of the Statement of recognised income
in HUF million
| 3Q 2019 | 2Q 2020 | 3Q 2020 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| Consolidated after tax profit | 131 644 | 78 670 | 113 573 | 44 | -14% |
| Adjustments (after tax) (total) | 21 173 | -3 552 | -4 079 | 15% | -119% |
| Consolidated adjusted after tax profit without the effect of adjustments | 110 471 | 82 222 | 117 652 | 43% | 6% |
| Pre-tax profit | 123 460 | 92 846 | 134 531 | 45% | 9% |
| Operating profit | 137 119 | 131 016 | 139 320 | 6% | 2% |
| Total income | 273 216 | 284 200 | 294 395 | 4% | 8% |
| Net interest income | 177 063 | 194 482 | 195 738 | 1% | 11% |
| Net fees and commissions | 72 953 | 66 586 | 74 240 | 11% | 2% |
| Other net non-interest income | 23 200 | 23 132 | 24 417 | 6% | 5% |
| Operating expenses | -136 096 | -153 184 | -155 075 | 1% | 14% |
| Total risk costs | -11 633 | -39 051 | -5 107 | -87% | -56% |
| One off items | -2 026 | 880 | 318 | -64% | -116% |
| Corporate taxes | -12 988 | -10 624 | -16 879 | 59% | 30% |
Main components of balance sheet (closing balances in HUF million)
| 3Q 2019 | 2Q 2020 | 3Q 2020 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| Total assets | 18 971 033 | 21 790 154 | 22 709 216 | 4% | 20% |
| Total customer loans (net, FX adjusted) | 11 532 538 | 13 157 944 | 13 574 198 | 3% | 18% |
| Total customer loans (gross, FX adjusted) | 12 253 487 | 13 979 613 | 14 394 579 | 3% | 17% |
| Allowances for possible loan losses (FX adjusted) | -720 949 | -821 669 | -820 381 | 0% | 14% |
| Total customer deposits (FX adjusted) | 15 200 037 | 16 715 792 | 17 324 304 | 4% | 14% |
| Issued securities | 398 097 | 401 829 | 444 337 | 11% | 12% |
| Subordinated loans | 252 141 | 271 478 | 273 542 | 1% | 8% |
| Total shareholders' equity | 2 203 898 | 2 380 263 | 2 473 108 | 4% | 12% |
Indicators based on adjusted earnings %
| 3Q 2019 | 2Q 2020 | 3Q 2020 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| ROE (from accounting net earnings) | 24.9% | 13.5% | 19.0% | 5.5%p | -5.9%p |
| ROE (from adjusted net earnings) | 20.9% | 14.1% | 19.7% | 5.6%p | -1.2%p |
| ROA (from adjusted net earnings) | 2.5% | 1.5% | 2.1% | 0.6%p | -0.4%p |
| Operating profit margin | 3.09% | 2.44% | 2.53% | 0.09%p | -0.56%p |
| Total income margin | 6.15% | 5.30% | 5.35% | 0.05%p | -0.80%p |
| Net interest margin | 3.99% | 3.63% | 3.56% | -0.07%p | -0.43%p |
| Cost-to-asset ratio | 3.07% | 2.86% | 2.82% | -0.04%p | -0.25%p |
| Cost/income ratio | 49.8% | 53.9% | 52.7% | -1.2%p | 2.9%p |
| Provision for impairment on loan and placement losses-to-average gross loans ratio | 0.25% | 0.92% | 0.00% | -0.92%p | -0.25%p |
| Total risk cost-to-asset ratio | 0.26% | 0.73% | 0.09% | -0.64%p | -0.17%p |
| Effective tax rate | 10.5% | 11.4% | 12.5% | 1.1%p | 2.0%p |
| Net loan/(deposit+retail bond) ratio (FX adjusted) | 76% | 79% | 78% | 0%p | 2%p |
| Capital adequacy ratio (consolidated, IFRS) - Basel2 | 16.8% | 16.3% | 17.0% | 0.7%p | 0.1%p |
| Tier1 ratio - Basel3 | 14.3% | 13.9% | 14.6% | 0.7%p | 0.3%p |
| Common Equity Tier 1 ('CET1') ratio - Basel3 | 14.3% | 13.9% | 14.6% | 0.7%p | 0.3%p |
Share Data
| 3Q 2019 | 2Q 2020 | 3Q 2020 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| EPS diluted (HUF) (from unadjusted net earnings) | 503 | 301 | 442 | 47% | -12% |
| EPS diluted (HUF) (from adjusted net earnings) | 422 | 314 | 459 | 46% | 9% |
| Closing price (HUF) | 12 790 | 11 020 | 9 340 | -15% | -27% |
| Highest closing price (HUF) | 12 900 | 11 830 | 11 210 | -5% | -13% |
| Lowest closing price (HUF) | 11 620 | 8 010 | 8 880 | 11% | -24% |
| Market Capitalization (EUR billion) | 10.7 | 8.7 | 7.2 | -17% | -33% |
| Book Value Per Share (HUF) | 7 871 | 8 501 | 8 833 | 4% | 12% |
| Tangible Book Value Per Share (HUF) | 7 117 | 7 636 | 7 992 | 5% | 12% |
| Price/Book Value | 1.6 | 1.3 | 1.1 | -18% | -35% |
| Price/Tangible Book Value | 1.8 | 1.4 | 1.2 | -19% | -35% |
| P/E (trailing, from accounting net earnings) | 9.2 | 10.0 | 9.0 | -10% | -3% |
| P/E (trailing, from adjusted net earnings) | 9.5 | 9.3 | 7.7 | -17% | -19% |
| Average daily turnover (EUR million) | 16 | 27 | 14 | -48% | -9% |
| Average daily turnover (million share) | 0.4 | 1.0 | 0.5 | -49% | 20% |