Financial highlights
Consolidated financial highlights and share data
Main
components of the Statement of recognised income
in HUF million
| 3Q 2017 | 2Q 2018 | 3Q 2018 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| Consolidated after tax profit | 79,329 | 89,520 | 85,933 | -4% | 8% |
| Adjustments (after tax) (total) | -205 | -1,358 | -6,755 | 398% | |
| Consolidated adjusted after tax profit without the effect of adjustments | 79,534 | 90,878 | 92,688 | 2% | 17% |
| Pre-tax profit | 88,837 | 101,771 | 104,027 | 2% | 17% |
| Operating profit | 93,092 | 103,840 | 106,560 | 3% | 14% |
| Total income | 203,814 | 225,231 | 228,313 | 1% | 12% |
| Net interest income | 137,026 | 145,877 | 153,892 | 5% | 12% |
| Net fees and commissions | 53,049 | 56,733 | 57,814 | 2% | 9% |
| Other net non-interest income | 12,743 | 17,332 | 15,971 | -8% | 25% |
| Operating expenses | -110,721 | -121,391 | -121,753 | 0% | 10% |
| Total risk costs | -4,255 | -2,069 | -2,532 | 22% | -40% |
| One off items | 996 | 5,289 | 636 | -88% | -36% |
| Corporate taxes | -9,304 | -10,893 | -11,339 | 4% | 22% |
Main components of balance sheet (closing balances in HUF million)
| 3Q 2017 | 2Q 2018 | 3Q 2018 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| Total assets | 12,641,691 | 14,213,426 | 14,362,575 | 1% | 14% |
| Total customer loans (net, FX adjusted) | 6,819,125 | 7,633,148 | 7,908,033 | 4% | 16% |
| Total customer loans (gross, FX adjusted) | 7,638,916 | 8,380,985 | 8,616,678 | 3% | 13% |
| Allowances for possible loan losses (FX adjusted) | -819,791 | -747,837 | -708,646 | -5% | -14% |
| Total customer deposits (FX adjusted) | 9,856,912 | 10,754,252 | 11,032,659 | 3% | 12% |
| Issued securities | 251,527 | 305,109 | 338,155 | 11% | 34% |
| Subordinated loans | 76,903 | 83,513 | 82,173 | -2% | 7% |
| Total shareholders' equity | 1,575,440 | 1,707,376 | 1,770,656 | 4% | 12% |
Indicators based on adjusted earnings %
| 3Q 2017 | 2Q 2018 | 3Q 2018 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| ROE (from accounting net earnings) | 20.3% | 21.9% | 19.6% | -2.3% | -0.7% |
| ROE (from adjusted net earnings) | 20.3% | 22.3% | 21.2% | -1.1% | 0.8% |
| ROA (from adjusted net earnings) | 2.6% | 2.7% | 2.6% | -0.1% | 0.0% |
| Operating profit margin | 3.00% | 3.03% | 2.98% | -0.05% | -0.03% |
| Total income margin | 6.58% | 6.57% | 6.38% | -0.19% | -0.20% |
| Net interest margin | 4.42% | 4.25% | 4.30% | 0.05% | -0.12% |
| Net fee and commission margin | 1.71% | 1.65% | 1.62% | -0.04% | -0.10% |
| Net other non-interest income margin without one-offs | 0.41% | 0.51% | 0.45% | -0.06% | 0.04% |
| Cost-to-asset ratio | 3.57% | 3.54% | 3.40% | -0.14% | -0.17% |
| Cost/income ratio | 54.6% | 55.2% | 53.5% | -1.7% | -1.1% |
| Risk cost to average gross loans | 0.05% | 0.00% | 0.17% | 0.17% | 0.12% |
| Total risk cost-to-asset ratio | 0.14% | 0.06% | 0.07% | 0.01% | -0.07% |
| Effective tax rate | 10.5% | 10.7% | 10.9% | 0.2% | 0.4% |
| Net loan/(deposit+retail bond) ratio (FX adjusted) | 69% | 71% | 72% | 1% | 3% |
| Capital adequacy ratio (consolidated, IFRS) - Basel2 | 15.8% | 16.5% | 16.2% | -0.4% | 0.4% |
| Tier1 ratio - Basel3 | 13.7% | 14.6% | 14.3% | -0.3% | 0.6% |
| Common Equity Tier 1 ('CET1') ratio - Basel3 | 13.7% | 14.6% | 14.3% | -0.3% | 0.6% |
Share Data
| 3Q 2017 | 2Q 2018 | 3Q 2018 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| EPS diluted (HUF) (from unadjusted net earnings) | 303 | 342 | 328 | -4% | 8% |
| EPS diluted (HUF) (from adjusted net earnings) | 304 | 347 | 354 | 2% | 16% |
| Closing price (HUF) | 9,895 | 10,210 | 10,320 | 1% | 4% |
| Highest closing price (HUF) | 10,465 | 11,590 | 10,690 | -8% | 2% |
| Lowest closing price (HUF) | 9,000 | 9,600 | 9,840 | 2% | 9% |
| Market Capitalization (EUR billion) | 8.9 | 8.7 | 8.9 | 3% | 0% |
| Book Value Per Share (HUF) | 5,627 | 6,098 | 6,324 | 4% | 12% |
| Tangible Book Value Per Share (HUF) | 5,023 | 5,472 | 5,737 | 5% | 14% |
| Price/Book Value | 1.8 | 1.7 | 1.6 | -3% | -7% |
| Price/Tangible Book Value | 2.0 | 1.9 | 1.8 | -4% | -9% |
| P/E (trailing, from accounting net earnings) | 11.6 | 9.5 | 9.4 | -1% | -19% |
| P/E (trailing, from adjusted net earnings) | 11.0 | 9.2 | 9.0 | -3% | -18% |
| Average daily turnover (EUR million) | 13 | 18 | 14 | -27% | 1% |
| Average daily turnover (million share) | 0.4 | 0.6 | 0.4 | -23% | 4% |