Financial highlights
Consolidated financial highlights and share data
Main
components of the Statement of recognised income
in HUF million
| 2Q 2017 | 1Q 2018 | 2Q 2018 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| Consolidated after tax profit | 80,697 | 65,050 | 89,520 | 38% | 11% |
| Adjustments (after tax) (total) | 2,440 | -14,216 | -1,358 | -90% | -156% |
| Consolidated adjusted after tax profit without the effect of adjustments | 78,257 | 79,266 | 90,878 | 15% | 16% |
| Pre-tax profit | 90,317 | 89,696 | 101,771 | 13% | 13% |
| Operating profit | 100,150 | 90,985 | 103,840 | 14% | 4% |
| Total income | 207,406 | 204,490 | 225,231 | 10% | 9% |
| Net interest income | 136,925 | 143,614 | 145,877 | 2% | 7% |
| Net fees and commissions | 53,757 | 49,579 | 56,733 | 14% | 6% |
| Other net non-interest income | 13,839 | 13,142 | 17,332 | 32% | 25% |
| Operating expenses | -107,256 | -113,505 | -121,391 | 7% | 13% |
| Total risk costs | -9,833 | -1,289 | -2,069 | 60% | -79% |
| One off items | 2,885 | -1,845 | 5,289 | -387% | 83% |
| Corporate taxes | -12,060 | -10,430 | -10,893 | 4% | -10% |
Main components of balance sheet (closing balances in HUF million)
| 2Q 2017 | 1Q 2018 | 2Q 2018 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| Total assets | 12,145,924 | 13,511,182 | 14,213,426 | 5% | 17% |
| Total customer loans (net, FX adjusted) | 6,748,277 | 7,343,144 | 7,737,846 | 5% | 15% |
| Total customer loans (gross, FX adjusted) | 7,657,140 | 8,134,945 | 8,501,864 | 5% | 11% |
| Allowances for possible loan losses (FX adjusted) | -908,863 | -791,801 | -764,018 | -4% | -16% |
| Total customer deposits (FX adjusted) | 9,501,321 | 10,717,791 | 10,870,394 | 1% | 14% |
| Issued securities | 258,139 | 258,602 | 305,109 | 18% | 18% |
| Subordinated loans | 76,464 | 75,266 | 83,513 | 11% | 9% |
| Total shareholders' equity | 1,496,262 | 1,592,448 | 1,707,376 | 7% | 14% |
Indicators based on adjusted earnings %
| 2Q 2017 | 1Q 2018 | 2Q 2018 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| ROE (from accounting net earnings) | 22.0% | 16.2% | 21.9% | 5.8% | 0.0% |
| ROE (from adjusted net earnings) | 21.3% | 19.7% | 22.3% | 2.6% | 1.0% |
| ROA (from adjusted net earnings) | 2.7% | 2.4% | 2.7% | 0.2% | 0.0% |
| Operating profit margin | 3.41% | 2.77% | 3.03% | 0.26% | -0.38% |
| Total income margin | 7.06% | 6.23% | 6.57% | 0.34% | -0.50% |
| Net interest margin | 4.66% | 4.37% | 4.25% | -0.12% | -0.41% |
| Net fee and commission margin | 1.83% | 1.51% | 1.65% | 0.14% | -0.18% |
| Net other non-interest income margin without one-offs | 0.47% | 0.40% | 0.51% | 0.11% | 0.03% |
| Cost-to-asset ratio | 3.65% | 3.46% | 3.54% | 0.08% | -0.11% |
| Cost/income ratio | 52.4% | 55.0% | 55.2% | 0.2% | 2.8% |
| Risk cost to average gross loans | 0.35% | 0.03% | 0.00% | -0.03% | -0.35% |
| Total risk cost-to-asset ratio | 0.33% | 0.04% | 0.06% | 0.02% | -0.27% |
| Effective tax rate | 13.4% | 11.6% | 10.7% | -0.9% | -2.6% |
| Net loan/(deposit+retail bond) ratio (FX adjusted) | 71% | 69% | 71% | 3% | 1% |
| Capital adequacy ratio (consolidated, IFRS) - Basel2 | 16.3% | 16.9% | 16.5% | -0.4% | 0.3% |
| Tier1 ratio - Basel3 | 14.1% | 15.0% | 14.6% | -0.4% | 0.5% |
| Common Equity Tier 1 ('CET1') ratio - Basel3 | 14.1% | 15.0% | 14.6% | -0.4% | 0.5% |
Share Data
| 2Q 2017 | 1Q 2018 | 2Q 2018 | Q-o-Q | Y-o-Y | |
|---|---|---|---|---|---|
| EPS diluted (HUF) (from unadjusted net earnings) | 308 | 248 | 342 | 38% | 11% |
| EPS diluted (HUF) (from adjusted net earnings) | 299 | 303 | 347 | 15% | 16% |
| Closing price (HUF) | 9,050 | 11,420 | 10,210 | -11% | 13% |
| Highest closing price (HUF) | 9,340 | 11,750 | 11,590 | -1% | 24% |
| Lowest closing price (HUF) | 7,815 | 10,790 | 9,600 | -11% | 23% |
| Market Capitalization (EUR billion) | 8.2 | 10.2 | 8.7 | -15% | 6% |
| Book Value Per Share (HUF) | 5,344 | 5,687 | 6,098 | 7% | 14% |
| Tangible Book Value Per Share (HUF) | 4,730 | 5,074 | 5,472 | 8% | 16% |
| Price/Book Value | 1.7 | 2.0 | 1.7 | -17% | -1% |
| Price/Tangible Book Value | 1.9 | 2.3 | 1.9 | -17% | -2% |
| P/E (trailing, from accounting net earnings) | 11.0 | 10.9 | 9.5 | -13% | -14% |
| P/E (trailing, from adjusted net earnings) | 10.5 | 10.8 | 9.2 | -14% | -12% |
| Average daily turnover (EUR million) | 16 | 17 | 18 | 8% | 13% |
| Average daily turnover (million share) | 0.6 | 0.5 | 0.6 | 20% | -5% |