Front-Loaded Tax Accounting Puts MBH Bank in Red

MBH Bank had a first-quarter loss of HUF 19.4 billion as it booked the bank levy and windfall profit tax for the full year during the period, an earnings report released on the website of the Budapest Stock Exchange on Thursday shows.

The bank had HUF 54.1 bn adjusted profit after taxes (-6.1% y/y) in 1Q 2026 and 17.7% adjusted return on investment (14.3% based on adjusted total comprehensive income), mainly driven by high net interest income in 1Q 2026. The 1Q 2026 accounting profit after tax (HUF –19,4 bn) was decreased by the banking tax and higher extra-profit tax accounted for the full year.

Net interest income fell 6% to HUF 114.5 billion and net revenue from commissions and fees climbed 26% to HUF 27.0 billion.

HUF 5.8 billion risk cost (provisions and other impairments) was released in 1Q 2026 due to the stable portfolio quality.

MBH had total assets of HUF 13,119.8 billion (+2.3% y/y; +1.8% q/q) at the end of March partially supported by the growth in deposit portfolios (+3.5% y/y) and gross loan volumes (+3.8% y/y).

Stock of client loans rose 4% to HUF 6,359 billion. Retail lending stock climbed 7% to HUF 2,596 billion and corporate loans inched up 1% to HUF 3,041 billion.

The non-performing loan (NPL) ratio was 3.5%. Client deposits increased 4% to HUF 8,298 billion.