MBH Bank owned by PM Orbán's close friend, the wealthiest Hungarian, had a very prosperous 2024

MBH Bank’s balance sheet expanded significantly in 2024, while its financial results were outstanding, deputy-CEO Péter Krizsanovich said at a press conference after the lender released fourth-quarter earnings on Friday.

Krizsanovich said the results were in line with the bank’s strategic targets and reflected its position as a market leader in the sector. After-tax profit rose 12pc to HUF 205.9bn in 2024, MBH Banks earnings report shows. Adjusted for the impact of the bank levy and windfall profit tax, after-tax profit slipped 3pc to HUF 236.0bn.

Net interest income fell 10pc to HUF 511.6bn and net revenue from commissions and fees rose 12pc to HUF 105.0bn, after adjustments. MBH Bank had total assets of HUF 12,504.7bn at year-end, 13pc more than twelve months earlier. Gross stock of client loans climbed 18pc to HUF 6,120.6bn. Retail loans jumped 37pc to HUF 2,383.9bn and corporate lending stock rose 7pc to HUF 3,044.7bn.

Client deposits increased 16pc to HUF 8,063.6bn. Retail deposits rose 21pc to HUF 3,197.8bn and corporate deposit stock climbed 16pc to HUF 4,640.5bn. Deputy-CEO Ildiko Ginzer said the rise in retail lending and deposit stock was in part due to the acquisition of a controlling stake in Fundamenta Lakáskassza, a home savings bank. She said home loan outlays quintupled in 2024, giving MBH Bank 31pc market share in the fourth quarter. Outlays of personal loans nearly doubled, she added.

MBH Bank’s stock of home mortgage loans reached HUF 1,531.6bn at year-end, up from HUF 631.4bn a year earlier. Stock of consumer and other loans without collateral reached HUF 706.7bn. MBH Bank has close to 2.5 million clients.

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