Q3 2022 Financial Performance Review
Financial Performance
MKB
BANK
Highlights of Q3 2022
Executive Summary - KPIs
Financial performance indicators Q3(Y)
MKB Group had a successful 3Q(Y) in financial terms due to the increasing
interest environment and increasing interest margin. The adjusted profit after
tax reached HUF 149.8 bn in 3Q(Y) 2022, achieving a 39.4% increase (+HUF
42.4 bn y/y) in comparison to 3Q(Y) 2021. The adjusted profit after tax
decreased by 29,0% q/q in 3Q due to negative change in OCI (HUF -42.8 bn
q/q) and risk cost was charged (HUF -26.0 bn q/q).
The adjusted GOI of HUF 342.6 bn, was mainly driven by the net interest
income (HUF +137.1 bn y/y) and the slight increase of the net fee income
(HUF +1.8bn y/y). Increasing net interest margin was in line with the rising
interest rate environment.
In an environment of rising inflation, GAE increased in 3Q(Y) by 13.0% y/y.
Attributable to wage inflation, PEREX increased by 14.6% in 3Q(Y) y/y, while
OPEX increased by 10.8% mainly due to price inflation.
However, due to strict cost control, the operation of MKB Group became
more cost-efficient in 3Q(Y) 2022, achieving a CIR of 42.1%, which is 8.1%-pt
lower compared to 3Q(Y) 2021.
Risk cost of HUF 26.0 bn was charged in 3Q(Y) 2022 due to reflecting the
moratorium 4, the impairment charge recognised for the agricultural
moratorium and the Sberbank portfolio acquired.
MKB Group remained highly profitable in 3Q(Y) 2022, achieving an adjusted
ROAE of 27.7% (+6.4%-pt y/y, -10.5%-pt q/q).
58.3%
(⇓
y/y 9/9 ↑)
(⇓
y/y 9/9
↑)
PAT
HUF 149.8 bn
GOI
HUF 342.6 bn
39.4%
-29.0%
34.7% ;
7.2%
TOCI
HUF 132.4 bn
GAE
HUF -144.2 bn
-62.0%
13.0%
-1.6%
ROAE
27.7%
Risk cost
HUF -26.0 bn
6.4%-pt ; -10.5%-pt
CAR
CIR
16.3%
42.1%
0.1%-pt
-0.6%-pt
-8.1%-pt
-3.5%-pt
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