Mortgages drive expansion at MBH Bank

The bank’s gross loan portfolio increased by 18.5% year-on-year to HUF 5,940 billion (approx. EUR 14.5 billion). The main driver of this growth was private customers, whose loan volume increased by 34.5% to 2,310 billion forints by the end of September. Deposits also recorded enormous growth to 7,590 billion forints. Profit before tax for the first nine months amounted to 220 billion forints, an increase of 34.5% on the previous year.

Loans for residential purposes quintupled

The remarkable growth was made possible by the Fundamenta takeover and a significant increase in the granting of new loans. Residential construction loans developed particularly dynamically: the volume of new loans quintupled, while the Group’s market share tripled year-on-year to 27%. The volume of loans for discretionary purposes almost doubled year-on-year. Private customer business rose by 27.5%, while the corporate sector recorded an increase of 16.5%.

Solid balance sheet

The MBH Group’s balance sheet total grew to HUF 12,230 billion by the end of the reporting period, an increase of HUF 1,500 billion on the previous year. Equity increased further from HUF 1,110 billion in the second quarter alone to HUF 1,175 billion.

MBH Bank plans to further expand its offering in both corporate and retail banking. This also includes the Garantiqa InvestEU guarantee program, which is provided by Garantiqa Hitelgarancia Kft. and offered by MBH Bank as one of the first private partner banks.