Financial highlights
Consolidated financial highlights and share data
Main
components of the Statement of recognised income
in HUF million
| 1Q 2017 | 4Q 2017 | 1Q 2018 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| Consolidated after tax profit | 52,859 | 68,454 | 65,050 | -5% | 23% |
| Adjustments (after tax) (total) | -13,902 | 8,934 | -14,216 | -259% | 2% |
| Consolidated adjusted after tax profit without the effect of adjustments | 66,762 | 59,52 | 79,266 | 33% | 19% |
| Pre-tax profit | 76,204 | 66,063 | 89,696 | 36% | 18% |
| Operating profit | 88,679 | 85,182 | 90,985 | 7% | 3% |
| Total income | 188,714 | 208,958 | 204,490 | -2% | 8% |
| Net interest income | 132,180 | 140,523 | 143,614 | 2% | 9% |
| Net fees and commissions | 44,549 | 58,073 | 49,579 | -15% | 11% |
| Other net non-interest income | 12,026 | 10,256 | 13,142 | 28% | 9% |
| Operating expenses | -100,035 | -123,775 | -113,505 | -8% | 13% |
| Total risk costs | -12,475 | -19,12 | -1,289 | -93% | -90% |
| One off items | -42 | 106 | -1,845 | ||
| Corporate taxes | -9,442 | -6,543 | -10,430 | 59% | 10% |
Main components of balance sheet (closing balances in HUF million)
| 1Q 2017 | 4Q 2017 | 1Q 2018 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| Total assets | 11,295,754 | 13,190,228 | 13,511,182 | 2% | 20% |
| Total customer loans (net, FX adjusted) | 5,721,239 | 6,987,834 | 7,102,159 | 1% | 24% |
| Total customer loans (gross, FX adjusted) | 6,613,915 | 7,690,419 | 7,856,093 | 2% | 19% |
| Allowances for possible loan losses (FX adjusted) | -892,676 | -702,585 | -753,934 | 7% | -16% |
| Total customer deposits (FX adjusted) | 8,357,216 | 10,233,471 | 10,385,228 | 1% | 24% |
| Issued securities | 263,629 | 250,32 | 258,602 | 3% | -2% |
| Subordinated loans | 76,565 | 76,028 | 75,266 | -1% | -2% |
| Total shareholders' equity | 1,436,232 | 1,640,055 | 1,592,448 | -3% | 11% |
Indicators based on adjusted earnings %
| 1Q 2017 | 4Q 2017 | 1Q 2018 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| ROE (from accounting net earnings) | 15.0% | 16.9% | 16.2% | -0.7% | 1.2% |
| ROE (from adjusted net earnings) | 18.8% | 14.7% | 19.7% | -5.0% | 0.9% |
| ROA (from adjusted net earnings) | 2.4% | 1.9% | 2.4% | 0.6% | 0.0% |
| Operating profit margin | 3.22% | 2.65% | 2.77% | 0.12% | -0.45% |
| Total income margin | 6.86% | 6.51% | 6.23% | -0.28% | -0.63% |
| Net interest margin | 4.80% | 4.38% | 4.37% | 0.00% | -0.43% |
| Net fee and commission margin | 1.62% | 1.81% | 1.51% | -0.30% | -0.11% |
| Net other non-interest income margin without one-offs | 0.44% | 0.32% | 0.40% | 0.08% | -0.04% |
| Cost-to-asset ratio | 3.64% | 3.85% | 3.46% | -0.40% | -0.18% |
| Cost/income ratio | 53.0% | 59.3% | 55.0% | -4.3% | 2.0% |
| Risk cost to average gross loans | 0.65% | 0.70% | 0.03% | -0.67% | -0.62% |
| Total risk cost-to-asset ratio | 0.45% | 0.60% | 0.04% | -0.56% | -0.41% |
| Effective tax rate | 12.4% | 9.9% | 11.6% | 1.7% | -0.8% |
| Net loan/(deposit+retail bond) ratio (FX adjusted) | 68% | 68% | 68% | 0% | 1% |
| Capital adequacy ratio (consolidated, IFRS) - Basel2 | 18.5% | 14.6% | 16.9% | 2.3% | -1.5% |
| Tier1 ratio - Basel3 | 16.0% | 12.7% | 15.0% | 2.4% | -1.0% |
| Common Equity Tier 1 ('CET1') ratio - Basel3 | 16.0% | 12.7% | 15.0% | 2.4% | -1.0% |
Share Data
| 1Q 2017 | 4Q 2017 | 1Q 2018 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| EPS diluted (HUF) (from unadjusted net earnings) | 202 | 261 | 248 | -5% | 23% |
| EPS diluted (HUF) (from adjusted net earnings) | 255 | 227 | 303 | 33% | 19% |
| Closing price (HUF) | 8,093 | 10,720 | 11,420 | 7% | 41% |
| Highest closing price (HUF) | 9,396 | 10,930 | 11,750 | 8% | 25% |
| Lowest closing price (HUF) | 8,093 | 9,930 | 10,790 | 9% | 33% |
| Market Capitalization (EUR billion) | 7.3 | 9.7 | 10.2 | 6% | 39% |
| Book Value Per Share (HUF) | 5,129 | 5,857 | 5,687 | -3% | 11% |
| Tangible Book Value Per Share (HUF) | 4,534 | 5,219 | 5,074 | -3% | 12% |
| Price/Book Value | 1.6 | 1.8 | 2.0 | 10% | 27% |
| Price/Tangible Book Value | 1.8 | 2.1 | 2.3 | 10% | 26% |
| P/E (trailing, from accounting net earnings) | 10.3 | 10.7 | 10.9 | 2% | 6% |
| P/E (trailing, from adjusted net earnings) | 10.3 | 10.6 | 10.8 | 2% | 5% |
| Average daily turnover (EUR million) | 15 | 14 | 17 | 19% | 16% |
| Average daily turnover (million share) | 0.5 | 0.4 | 0.5 | 8% | -10% |