Financial highlights
Consolidated financial highlights and share data
Main
components of the Statement of recognised income
in HUF million
| 4Q 2019 | 3Q 2020 | 4Q 2020 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| Consolidated after tax profit | 102 979 | 113 573 | 71 465 | -37% | -31% |
| Adjustments (after tax) (total) | -2 971 | -4 079 | -7 097 | 74% | 139% |
| Consolidated adjusted after tax profit without the effect of adjustments | 105 950 | 117 652 | 78 562 | -33% | -26% |
| Pre-tax profit | 114 585 | 134 531 | 88 575 | -34% | -23% |
| Operating profit | 139 991 | 139 320 | 139 917 | 0% | 0% |
| Total income | 305 518 | 294 395 | 307 451 | 4% | 1% |
| Net interest income | 195 875 | 195 738 | 197 578 | 1% | 1% |
| Net fees and commissions | 85 503 | 74 240 | 83 052 | 12% | -3% |
| Other net non-interest income | 24 140 | 24 417 | 26 820 | 10% | 11% |
| Operating expenses | -165 527 | -155 075 | -167 533 | 8% | 1% |
| Total risk costs | -24 891 | -5 107 | -52 144 | 921% | 109% |
| One off items | -515 | 318 | 801 | 152% | -256% |
| Corporate taxes | -8 635 | -16 879 | -10 013 | -41% | 16% |
Main components of balance sheet (closing balances in HUF million)
| 4Q 2019 | 3Q 2020 | 4Q 2020 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| Total assets | 20 121 767 | 22 709 216 | 23 335 841 | 3% | 16% |
| Total customer loans (net, FX adjusted) | 12 902 518 | 13 563 574 | 13 528 586 | 0% | 5% |
| Total customer loans (gross, FX adjusted) | 13 605 264 | 14 381 084 | 14 363 281 | 0% | 6% |
| Allowances for possible loan losses (FX adjusted) | -702 746 | -817 511 | -834 695 | 2% | 19% |
| Total customer deposits (FX adjusted) | 16 260 599 | 17 284 080 | 17 890 863 | 4% | 10% |
| Issued securities | 393 167 | 444 337 | 464 214 | 4% | 18% |
| Subordinated loans | 249 937 | 273 542 | 274 704 | 0% | 10% |
| Total shareholders' equity | 2 291 288 | 2 473 108 | 2 537 112 | 3% | 11% |
Indicators based on adjusted earnings %
| 4Q 2019 | 3Q 2020 | 4Q 2020 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| ROE (from accounting net earnings) | 18.2% | 19.0% | 11.3% | -7.7%p | -6.9%p |
| ROE (from adjusted net earnings) | 18.8% | 19.7% | 12.5% | -7.2%p | -6.3%p |
| ROA (from adjusted net earnings) | 2.2% | 2.1% | 1.4% | -0.8%p | -0.8%p |
| Operating profit margin | 2.90% | 2.53% | 2.43% | -0.11%p | -0.48%p |
| Total income margin | 6.34% | 5.35% | 5.33% | -0.02%p | -1.01%p |
| Net interest margin | 4.06% | 3.56% | 3.43% | -0.13%p | -0.64%p |
| Cost-to-asset ratio | 3.43% | 2.82% | 2.90% | 0.09%p | -0.53%p |
| Cost/income ratio | 54.2% | 52.7% | 54.5% | 1.8%p | 0.3%p |
| Provision for impairment on loan and placement losses-to-average gross loans ratio | 0.45% | 0.00% | 1.17% | 1.17%p | 0.72%p |
| Total risk cost-to-asset ratio | 0.52% | 0.09% | 0.90% | 0.81%p | 0.39%p |
| Effective tax rate | 7.5% | 12.5% | 11.3% | -1.2%p | 3.8%p |
| Net loan/(deposit+retail bond) ratio (FX adjusted) | 79% | 79% | 76% | -3%p | -4%p |
| Capital adequacy ratio (consolidated, IFRS) - Basel2 | 16.8% | 17.0% | 17.7% | 0.8%p | 1.0%p |
| Tier1 ratio - Basel3 | 14.4% | 14.6% | 15.4% | 0.7%p | 1.0%p |
| Common Equity Tier 1 ('CET1') ratio - Basel3 | 14.4% | 14.6% | 15.4% | 0.7%p | 1.0%p |
Share Data
| 4Q 2019 | 3Q 2020 | 4Q 2020 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| EPS diluted (HUF) (from unadjusted net earnings) | 391 | 442 | 279 | -37% | -29% |
| EPS diluted (HUF) (from adjusted net earnings) | 404 | 459 | 307 | -33% | -24% |
| Closing price (HUF) | 15 430 | 9 340 | 13 360 | 43% | -13% |
| Highest closing price (HUF) | 15 600 | 11 210 | 13 540 | 21% | -13% |
| Lowest closing price (HUF) | 11 990 | 8 880 | 9 625 | 8% | -20% |
| Market Capitalization (EUR billion) | 13.1 | 7.2 | 10.2 | 43% | -22% |
| Book Value Per Share (HUF) | 8 183 | 8 833 | 9 061 | 3% | 11% |
| Tangible Book Value Per Share (HUF) | 7 362 | 7 992 | 8 436 | 6% | 15% |
| Price/Book Value | 1.9 | 1.1 | 1.5 | 39% | -22% |
| Price/Tangible Book Value | 2.1 | 1.2 | 1.6 | 36% | -24% |
| P/E (trailing, from accounting net earnings) | 10.5 | 9.0 | 14.4 | 60% | 38% |
| P/E (trailing, from adjusted net earnings) | 10.3 | 7.7 | 12.1 | 56% | 17% |
| Average daily turnover (EUR million) | 17 | 14 | 20 | 42% | 15% |
| Average daily turnover (million share) | 0.4 | 0.5 | 0.6 | 26% | 53% |