DH Group Commissions Revenue Climbs 25% in Q2

The financial and real estate broker DH Group delivered a record second quarter in 2026: despite the forint’s approximately 11% year-on-year appreciation against both the euro and the zloty, intermediated loan volumes grew so strongly that Group-level volumes exceeded HUF 400 billion for the first time in the Group’s history, with all three countries reaching all-time highs, DH Group has reported on the website of the Budapest Stock Exchange.

Network commission revenues grew by 25% year-on-year, supported by the favorable interest rate environment in Poland, the Home Start Program (OSP) in Hungary and the contribution of Spain’s Donpiso.

The volume of Italian credit intermediation increased to a record HUF 184 billion in the second quarter, up 4% year-on-year in HUF terms (+17% in EUR terms), as the Group maintained momentum despite the ECB’s 25 basis point rate hike in June.

In Hungary, the 3% Home Start Program (OSP), launched on 1 September 2025 for first-time home buyers, continued to fuel demand: the volume of financial brokerage rose by 63% year-on-year to a new record of HUF 62 billion, marginally exceeding the previous quarter’s peak. Based on MNB data, more than 60% of home purchases were loan-financed in Q1 2026 – a historic high – while the housing market stabilised at a high price level. Network commission revenues grew by 6% year-on-year.

In Poland, financial brokerage volumes expanded by 27% year-on-year (+42% in zloty terms) to a new high, and franchise network commissions increased by 7% (+20% in zloty terms). The markets are supported by the Polish interest rate cut cycle and reviving credit demand.

Spain’s Donpiso, in which the Group increased its ownership to 34% in February 2026 and which is consolidated using the equity method, generated HUF 0.9 billion in network commission income in Q2 2026.

The Group’s closed its marginal Czech operations to focus its resources on the Group’s core markets.