MBH JELZÁLOGBANK NYILVÁNOSAN MUKÖDO RÉSZVÉNYTÁRSASÁG Annual report
for the year ending 31.12.2023.
Budapest, 28 March 2024
31 December 2023
Table of contents
- Stand-aloneFinancial Statements and Stand-alone Management Report - 31.12.2023.
- Stand-aloneFinancial Statements
- Stand-aloneManagement Report
- Issuer declaration for Stand-alone Financial Statements
MBH Mortgage Bank Public Limited Company
MBH Mortgage Bank Public Limited Company
Stand-alone Financial Statements in accordance with the International
Financial Reporting Standards adopted by the European Union
For the year ended 31 December 2023
MBH Mortgage Bank Public Limited Company
Stand-alone Financial Statements in accordance with the International Financial Report-
ing Standards adopted by the European Union - 31 December 2023
Table of Contents | Pages |
Stand-alone Statement of Profit or Loss and Stand-alone Statement of Other | |
Comprehensive Income | 4 |
Stand-alone Statement of Financial Position | 6-7 |
Stand-alone Statement of Cash Flows | 8-9 |
Stand-alone Statement of Changes in Equity | 10 |
Notes to the Stand-alone Financial Statements | 11-110 |
All figures in tables are in HUF million except otherwise noted
The Notes comprising a summary of significant accounting policies and other explanatory information form an integral part of the Stand-alone Financial Statements
2
MBH Mortgage Bank Public Limited Company
GENERAL INFORMATION
Chairman of the Board of Directors
József Vida
Chairman of the Supervisory Board
Dr. Géza Károly Láng
Members of the Board of Directors
Dr. Gyula László Nagy
Illés Tóth
Ildikó Ginzer
Dr. Ilona Török
Szabolcs Károly Brezina
Gábor Kalenyák (Resigned as of 31 December 2023)
Responsible person for the control and management of accounting services: Ildikó Brigitta Tóthné Fodor, registration number 007048
Auditor company
PricewaterhouseCoopers Auditing Ltd.
Statutory registered auditor Árpád Balázs Mészáros
MBH Mortgage Bank Co. Plc. (formerly Takarek Mortgage Bank Plc. hereinafter: Bank, Mortgage Bank) is involved in the consolidation by its parent company, MBH Bank Plc. (superior parent company), and prepares this consolidated report for companies included in the scope of accountingconsolidation.
The annual report, which is prepared by the Bank every year, does not contain the Business Report, while it is available for inspection on the Bank's website and at the registered office.
Headquarter of the Bank, central office
Budapest
Magyar Tudósok körútja 9. G. ép. 1117
All figures in tables are in HUF million except otherwise noted
The Notes comprising a summary of significant accounting policies and other explanatory information form an integral part of the Stand-alone Financial Statements
3
MBH Mortgage Bank Public Limited Company
Stand-aloneStatement of Profit or Loss and Stand-alone Statement of Other Comprehensive Income for the year ended 31 December 2023
1 January 2023 | - | 1 January 2022 | - | |||
Notes | 31 December | 31 December | ||||
2023 | 2022 |
Interest and similar to interest in- | 4 | 61,348 | 32,640 |
come | |||
Interest income using effective interest rate | 51,645 | 28,248 | |
method | |||
Other interest income | 9,703 | 4,392 |
Interest | and similar | to interest ex- | 4 | (52,825) | (26,085) | ||||||||||
pense | |||||||||||||||
Interest | expense using | effective | interest | (43,369) | (21,102) | ||||||||||
rate method | |||||||||||||||
Other interest expenses | (9,456) | (4,983) | |||||||||||||
Net interest income | 8,523 | 6,555 | |||||||||||||
Income from commission and fees | 5 | 219 | 557 | ||||||||||||
Expense from commission and fees | 5 | (366) | (548) | ||||||||||||
Net income from commissions and | (147) | 9 | |||||||||||||
fees | |||||||||||||||
Results from financial instruments measured at fair value through profit or loss, net
Gains on financial assets and liabilities designated at fair value through profit or loss
Results from financial instruments measured at fair value through other comprehensive income, net
Results from financial instruments measured at amortized cost, net
Results from hedge accounting, net Exchange differences result, net
8 | 2,193 | (886) |
- | 50 | |
7 | 399 | (273) |
7 | (162) | 361 |
32 | (1,254) | (8) |
6 | (210) | 449 |
Results from financial instruments, | 966 | (307) | ||||||||||||
net | ||||||||||||||
Impairment / (Reversal) on financial instruments held for credit risk management
Provision (loss) / gain
Modification (loss) / gain on financial instruments
(Impairment) / Reversal on other financial instruments
29 | 1,345 | (557) |
25 | 1 | 2 |
29 | (469) | (622) |
- | 1 |
Impairment / (Reversal) on financial | 877 | (1,176) | ||||||||||||
and non-financial instruments | ||||||||||||||
Operating expense | 10,11 | (2,734) | (2,808) | |||||||||||
Other income | 9 | 36 | 75 | |||||||||||
Other expense | 9 | (136) | (190) | |||||||||||
Profit before taxation | 7,385 | 2,158 | ||||||||||||
Income tax income / (expense) | 12 | (722) | (347) | |||||||||||
PROFIT FOR THE YEAR | 6,663 | 1,811 |
All figures in tables are in HUF million except otherwise noted
The Notes comprising a summary of significant accounting policies and other explanatory information form an integral part of the Stand-alone Financial Statements
4
MBH Mortgage Bank Public Limited Company
Stand-alone | Statement | of | Other | Notes | 1 January 2023 - 31 | 1 January 2022 - | |||||||||||||||
Comprehensive Income for the year | December 2023 | 31 December 2022 | |||||||||||||||||||
ended 31 December 2023 | |||||||||||||||||||||
Profit for the year | 6,663 | 1,811 | |||||||||||||||||||
Other comprehensive income | 13 | 505 | 290 | ||||||||||||||||||
Items that will | not be | reclassified to | - | - | |||||||||||||||||
profit or loss | |||||||||||||||||||||
Income tax relating to items that will not be | - | - | |||||||||||||||||||
reclassified | |||||||||||||||||||||
Items that may be | reclassified to | 505 | 290 | ||||||||||||||||||
profit/loss | |||||||||||||||||||||
Hedging instruments (unmarked items) | - | - | |||||||||||||||||||
Debt instruments at fair value | through | 495 | 290 | ||||||||||||||||||
other comprehensive income | |||||||||||||||||||||
Income tax relating to items that may be | 10 | - | |||||||||||||||||||
reclassified to profit or (-) loss | |||||||||||||||||||||
Total comprehensive | income for the | 7,168 | 2,101 | ||||||||||||||||||
year | |||||||||||||||||||||
Earnings per share (HUF 100 face | |||||||||||||||||||||
value) | |||||||||||||||||||||
Basic earnings per share (HUF) | 26 | 55.41 | 15.06 | ||||||||||||||||||
Weighted average number | of | shares | 108,236,699 | 108,236,699 | |||||||||||||||||
(piece) | |||||||||||||||||||||
All figures in tables are in HUF million except otherwise noted
The Notes comprising a summary of significant accounting policies and other explanatory information form an integral part of the Stand-alone Financial Statements
5
MBH Mortgage Bank Public Limited Company
Stand-alone Statement of Financial Position as at 31 December 2023
Notes | 31 December | 31 December | ||||||||
2023 | 2022 | |||||||||
Assets
Cash and cash equivalents
Financial assets measured at fair value through profit or loss
Loans and advances to customers mandatorily at fair value through profit or loss
Derivative financial assets
Hedging derivative assets
Financial assets measured at fair value through other comprehensive income
Securities
Financial assets measured at amortised cost
14 | 19,305 | 342 |
7,875 | 11,854 | |
18 | 6,310 | 6,593 |
15 | 1,565 | 5,261 |
28 | 640 | 975 |
16 | 9,999 | 18,172 |
9,999 | 18,172 | |
17 | 867,975 | 781,737 |
Loans and advances to banks | 17 | 523,272 | 437,013 | |||||
Loans and advances to customers | 17 | 20,540 | 24,733 | |||||
Securities | 17 | 323,975 | 319,726 | |||||
Other financial assets | 17 | 188 | 265 | |||||
Property, plant and equipment | 20,21 | 143 | 63 | |||||
Intangible assets | 19 | 247 | 239 | |||||
Income tax assets | 337 | 468 | ||||||
Deferred income tax assets | 12 | 337 | 468 | |||||
Other assets | 22 | 66 | 98 | |||||
Total assets | 906,587 | 813,948 | ||||||
All figures in tables are in HUF million except otherwise noted
The Notes comprising a summary of significant accounting policies and other explanatory information form an integral part of the Stand-alone Financial Statements
6
MBH Mortgage Bank Public Limited Company
Notes | 31 December | 31 December | ||||||||
2023 | 2022 | |||||||||
Liabilities | |||||||||||
Financial liabilities measured at fair value | 15 | 1,372 | 5,146 | ||||||||
through profit or loss | |||||||||||
Derivative financial liabilities | 1,372 | 5,146 | |||||||||
Financial liabilities measured at amor- | 23 | 820,600 | 734,183 | ||||||||
tised cost | |||||||||||
Amounts due to other banks | 445,316 | 377,771 | |||||||||
Issued debt securities | 374,647 | 355,799 | |||||||||
Other financial liabilities | 637 | 613 | |||||||||
Hedging derivative liabilities | 28 | 5,214 | 2,639 | ||||||||
Provisions | 24 | 16 | 17 | ||||||||
Income tax liabilities | 12 | 264 | 105 | ||||||||
Current income tax liabilities | 264 | 105 | |||||||||
Other liabilities | 25 | 916 | 821 | ||||||||
Total liabilities | 828,382 | 742,911 | |||||||||
Equity | |||||||||||
Share capital | 26 | 10,849 | 10,849 | ||||||||
Treasury shares | (207) | (207) | |||||||||
Share premium | 27,926 | 27,926 | |||||||||
Retained earnings | 30,126 | 28,981 | |||||||||
Other reserves | 26 | 2,286 | 1,620 | ||||||||
Profit for the year | 6,663 | 1,811 | |||||||||
Accumulated other comprehensive income | 562 | 57 | |||||||||
Total equity | 78,205 | 71,037 | |||||||||
Total liabilities and equity | 906,587 | 813,948 | |||||||||
Budapest, 28. March 2024 | |||||||||||
dr. Gyula László Nagy | Illés Tóth | ||||||||||
CEO | Deputy CEO |
All figures in tables are in HUF million except otherwise noted
The Notes comprising a summary of significant accounting policies and other explanatory information form an integral part of the Stand-alone Financial Statements
7
MBH Mortgage Bank Public Limited Company
Stand-alone Statement of Cash Flows for the year ended 31 December 2023
Cash flow from operating activities
Profit for the year
Non-cash adjustments to net profit from
Depreciation and amortization
Impairment/provision/ (-) Release of im- pairment/provision for losses
Provision/ (-) Release of other impair- ment/ provision
(Gain)/Loss on tangible assets derecog- nized
Interest expense on the lease liability
Fair value adjustments of derivatives held for trading and derivatives from hedge accounting
Operating profit before change in operating assets
Decrease/ (-) Increase in operating assets
Derivatives held for trading and derivatives from hedge accounting
Non-trading financial assets mandatorily at fair value through profit or loss
Financial assets at fair value through other comprehensive income
Financial assets at amortised cost
Other assets
Increase/ (-) Decrease in operating liabilities
Financial liabilities at amortised cost
Other liabilities
Net cash flow from operating activities
Notes | 1 January 2023 - 31 | 1 January 2022 - 31 | ||||||||
December 2023 | December 2022 | |||||||||
6,663 | 1,811 | |||||||||
88 | 67 | |||||||||
(603) | 522 | |||||||||
(1) | (11) | |||||||||
(9) | 5 | |||||||||
10 | - | |||||||||
124 | 1,354 | |||||||||
6,272 | 3,748 | |||||||||
1 665 | - | |||||||||
1,326 | 2,327 | |||||||||
8,677 | 8,360 | |||||||||
(85,645) | (157,082) | |||||||||
163 | 357 | |||||||||
71 | (50) | |||||||||
255 | (49) | |||||||||
(67,216) | (142,389) |
All figures in tables are in HUF million except otherwise noted
The Notes comprising a summary of significant accounting policies and other explanatory information form an integral part of the Stand-alone Financial Statements
8
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MBH Mortgage Bank Co. plc published this content on 25 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2024 16:37:18 UTC.
