Q3 2022 Financial Performance Review
income
Net fee
income
other income¹
Extended
Core
Net interest
income
MKB
Further increase in core income was mainly attributable to the rising interest rate
environment
BANK Financial Performance - P&L (HUF bn)
286.1
+61.1
+92.0%
149.1
96.9
113.8
75.4
52.7
51.6
+16.8
Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022
Q3(Y) 2021 Q3(Y) 2022
52.2
54.0 +1.8
18.9
19.5
18.0
20.4
15.6
-4.8
Q3 2021 Q4 2021 Q1 2022 Q2 2022
Q3 2022
Q3(Y) 2021 Q3(Y) 2022
3.1%
3.0%
3.7%
4.6%
4.9%
CIM
3.0%
4.4%
340.1
201.3
71.6
71.1
93.4
117.3
129.4
+12.0
Q3 2021 Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q3(Y) 2021 Q3(Y) 2022
29.3
+138.9
Net interest income reached HUF 113.8 bn in Q3 2022 (+17.4%
q/q, +115.8% y/y), which is a substantial growth that was mainly
driven by the rising interest rate environment, coupled with the
continuously intensifying ALM activities (investing in securities
and trading financial assets) while keeping risks at moderate
levels.
Net fee & Commission income reached HUF 15.6 bn in Q3 2022
(-23.5% q/q, -17.2% y/y), the impact of the transaction levy and
the economic slowdown is reflected in a smaller increase in
commission income.
Consequently, MKB's Core income amounted to HUF 129.4 bn in
Q3 2022 (+10.3% q/q; +80.8% y/y), while the core income
margin, which experienced a steep increase of 0.3 percentage
point compared to Q2 2022, has been showing a sustainable long-
term upward trend.
Extended other income totaled HUF 10.1 bn in Q3 2022 with the
q/q changes being driven by volatile money market conditions
through OCI and FV & FX results.
38.1
4.1
4.7
8.0
65.5
10.5
36.5
10.1
18.8
19.5
24.8
-5.54.
mmm.
-7.8
-12.0
-2.5
-8.5
-6.5
-12.3
-23.8%
-47.6
-6.3
-5.1
-8.1
-22.3
-17.4%
-15.0
Other income
FX+FV
OCI
1 Other income + FX + FV + OCI
-44.9
Q3 2021
Q4 2021
Q1 2022 Q2 2022
Q3 2022
Q3(Y) 2021 Q3(Y) 2022
Note: Merged Bank's financials for periods prior to Q2 2022 are calculated on a pro-forma basis
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