Budapest Bank

BB's net interest margin fell 7.70% to 3.85% in 2017

By Helgi Analytics - September 22, 2018

Budapest Bank's net interest margin amounted to 3.85% in 2017, down from 4.18% compared to the previous year. Historically...

BB's customer loans rose 13.5% to HUF 670,672 mil in 2017

By Helgi Analytics - September 22, 2018

Budapest Bank's customer loans reached HUF 670,672 mil in 2017, up 13.5% compared to the previous year. Hungarian banking secto...

BB's net profit rose 11.8% to HUF 14,600 mil in 2017

By Helgi Analytics - September 22, 2018

Budapest Bank made a net profit of HUF 14,600 mil in 2017, up 11.8% compared to the previous year. This implies a return on equi...

Profit Statement 2015 2016 2017
Net Interest Income HUF mil 42,647 41,010 39,174
Fee Income (As % Of Revenues) % 33.9 32.2 32.0
Other Income HUF mil 4,698 9,067 12,912
Total Revenues HUF mil 71,680 73,879 76,599
Staff Cost HUF mil 23,763 25,101 24,953
Operating Profit HUF mil 18,404 26,466 25,660
Provisions HUF mil 105,476 92,645 76,369
Net Profit HUF mil 14,766 13,059 14,600
Balance Sheet 2015 2016 2017
Interbank Loans HUF mil 198,726 166,746 68,642
Customer Loans HUF mil 533,626 590,729 670,672
Debt Securities HUF mil 177,306 181,627 226,965
Total Assets HUF mil 965,164 999,201 1,033,860
Shareholders' Equity HUF mil 117,732 131,516 139,534
Interbank Borrowing HUF mil 145,411 151,283 160,608
Customer Deposits HUF mil 663,737 684,260 699,155
Issued Debt Securities HUF mil 150 150 150
Ratios 2015 2016 2017
ROE % 12.7 10.5 10.8
ROA % 1.59 1.33 1.44
Costs (As % Of Assets) % 5.73 4.83 5.01
Costs (As % Of Income) % 74.3 64.2 66.5
Capital Adequacy Ratio % ... 11.0 ...
Net Interest Margin % 4.58 4.18 3.85
Loans (As % Of Deposits) % 80.4 86.3 95.9
NPLs (As % Of Loans) % 17.2 14.7 11.0
Provisions (As % Of NPLs) % 96.2 92.2 92.6
Growth Rates 2015 2016 2017
Total Revenue Growth % -8.96 3.07 3.68
Operating Cost Growth % -8.39 -11.0 7.44
Operating Profit Growth % -10.6 43.8 -3.05
Net Profit Growth % -138 -11.6 11.8
Customer Loan Growth % -8.21 10.7 13.5
Total Asset Growth % 7.78 3.53 3.47
Customer Deposit Growth % 12.8 3.09 2.18
Shareholders' Equity Growth % 2.01 11.7 6.10
Employees 2,849 2,914 2,911

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summary Unit 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                                          
Net Interest Income HUF mil                             68,644 66,817 57,104 49,600 42,647    
Total Revenues HUF mil                             99,267 88,718 86,335 78,734 71,680    
Operating Profit HUF mil                             42,745 26,252 29,309 20,576 18,404    
Net Profit HUF mil                             9,583 10,848 14,060 -38,725 14,766    
balance sheet                                          
Interbank Loans HUF mil                             37,814 48,090 58,879 114,826 198,726    
Customer Loans HUF mil                             646,350 586,625 566,560 581,363 533,626    
Debt Securities HUF mil                             181,428 231,592 222,322 133,260 177,306    
Total Assets HUF mil                             941,119 925,609 905,371 895,455 965,164    
Shareholders' Equity HUF mil                             126,544 137,391 154,141 115,416 117,732    
Interbank Borrowing HUF mil                             28,769 29,522 73,015 116,400 145,411    
Customer Deposits HUF mil                             738,783 715,094 643,494 588,530 663,737    
Issued Debt Securities HUF mil                             4,011 4,011 4,011 150 150    
ratios                                          
ROE %                             7.87 8.22 9.65 -28.7 12.7    
ROA %                             1.03 1.16 1.54 -4.30 1.59    
Costs (As % Of Assets) %                             6.10 6.69 6.23 6.46 5.73    
Costs (As % Of Income) %                             56.9 70.4 66.1 73.9 74.3    
Capital Adequacy Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ...
Net Interest Margin %                             7.41 7.16 6.24 5.51 4.58    
Interest Income (As % Of Revenues) %                             69.2 75.3 66.1 63.0 59.5    
Fee Income (As % Of Revenues) %                             13.3 14.2 24.8 31.4 33.9    
Staff Cost (As % Of Total Cost) %                             40.5 38.5 38.7 39.0 44.6    
Equity (As % Of Assets) %                             13.4 14.8 17.0 12.9 12.2    
Loans (As % Of Deposits) %                             87.5 82.0 88.0 98.8 80.4    
Loans (As % Assets) %                             68.7 63.4 62.6 64.9 55.3    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 18.8 18.9 17.2    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 91.7 91.0 96.2    
income statement Unit 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                                          
Interest Income HUF mil                             86,354 88,466 73,877 58,053 48,327    
Interest Cost HUF mil                             17,710 21,649 16,773 8,453 5,680    
Net Interest Income HUF mil                             68,644 66,817 57,104 49,600 42,647    
Net Fee Income HUF mil                             13,237 12,597 21,384 24,758 24,335    
Other Income HUF mil                             17,386 9,304 7,847 4,376 4,698    
Total Revenues HUF mil                             99,267 88,718 86,335 78,734 71,680    
Staff Cost HUF mil                             22,890 24,026 22,076 22,665 23,763    
Depreciation HUF mil                             3,177 2,949 3,061 3,335 3,389    
Other Cost HUF mil                             30,455 35,491 31,889 32,158 26,124    
Operating Cost HUF mil                             56,522 62,466 57,026 58,158 53,276    
Operating Profit HUF mil                             42,745 26,252 29,309 20,576 18,404    
Provisions HUF mil                             121,000 118,000 118,063 120,319 105,476    
Extra and Other Cost HUF mil                             -93.0 367 804 50,579 1,229    
Pre-Tax Profit HUF mil                             11,019 15,788 21,136 -36,903 18,949    
Tax HUF mil                             1,436 4,940 7,076 1,822 4,183    
Minorities HUF mil                             0 0 0 0 0    
Net Profit HUF mil                             9,583 10,848 14,060 -38,725 14,766    
growth rates                                          
Net Interest Income Growth % ...                           3.59 -2.66 -14.5 -13.1 -14.0    
Net Fee Income Growth % ...                           -8.32 -4.83 69.8 15.8 -1.71    
Total Revenue Growth % ...                           2.40 -10.6 -2.69 -8.80 -8.96    
Operating Cost Growth % ...                           12.8 10.5 -8.71 1.99 -8.39    
Operating Profit Growth % ...                           -8.73 -38.6 11.6 -29.8 -10.6    
Pre-Tax Profit Growth % ...                           -9.63 43.3 33.9 -275 -151    
Net Profit Growth % ...                           -6.26 13.2 29.6 -375 -138    
market share                                          
Market Share in Revenues % ...                           7.46 9.86 8.61 7.45 8.40    
Market Share in Net Profit %                             ... ... 45.1 ... ...    
Market Share in Employees % ... ... ... ... ...                   6.97 7.03 7.02 7.13 7.46    
Market Share in Branches % ... ... ... ... ... ... ... ...             2.96 3.06 3.14 3.28 3.41    
balance sheet Unit 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                                          
Cash HUF mil                             43,022 31,380 29,761 28,320 20,084    
Interbank Loans HUF mil                             37,814 48,090 58,879 114,826 198,726    
Customer Loans HUF mil                             646,350 586,625 566,560 581,363 533,626    
Retail Loans HUF mil ... ... ... ... ... ... ... ...             330,950 282,000 362,063 352,694 294,506    
Mortgage Loans HUF mil ... ... ... ... ... ... ... ...             226,506 188,000 185,171 191,932 161,331    
Consumer Loans HUF mil ... ... ... ... ... ... ... ...             104,444 94,000 176,892 160,762 133,175    
Corporate Loans HUF mil ... ... ... ... ... ... ... ...             211,000 214,000 321,338 343,504 343,631    
Debt Securities HUF mil                             181,428 231,592 222,322 133,260 177,306    
Fixed Assets HUF mil                             20,518 18,993 20,681 20,839 21,207    
Total Assets HUF mil                             941,119 925,609 905,371 895,455 965,164    
Shareholders' Equity HUF mil                             126,544 137,391 154,141 115,416 117,732    
Of Which Minority Interest HUF mil                             0 0 0 0 0    
Liabilities HUF mil                             814,575 788,218 751,230 780,039 847,432    
Interbank Borrowing HUF mil                             28,769 29,522 73,015 116,400 145,411    
Customer Deposits HUF mil                             738,783 715,094 643,494 588,530 663,737    
Retail Deposits HUF mil ... ... ... ... ... ... ... ... ...           255,000 250,000 227,000 ... ... ... ...
Corporate Deposits HUF mil ... ... ... ... ... ... ... ... ...           483,783 465,094 416,494 ... ... ... ...
Issued Debt Securities HUF mil                             4,011 4,011 4,011 150 150    
Other Liabilities HUF mil                             43,012 39,591 30,710 74,959 38,134    
asset quality                                          
Non-Performing Loans HUF mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 128,709 132,281 109,671    
Gross Loans HUF mil ... ... ... ... ...                   767,350 704,625 684,623 701,682 639,102    
Provisions HUF mil                             121,000 118,000 118,063 120,319 105,476    
growth rates                                          
Customer Loan Growth % ...                           -0.909 -9.24 -3.42 2.61 -8.21    
Retail Loan Growth % ... ... ... ... ... ... ... ... ...           0.900 -14.8 28.4 -2.59 -16.5    
Mortgage Loan Growth % ... ... ... ... ... ... ... ... ...           2.96 -17.0 -1.50 3.65 -15.9    
Consumer Loan Growth % ... ... ... ... ... ... ... ... ...           -3.29 -10.0 88.2 -9.12 -17.2    
Corporate Loan Growth % ... ... ... ... ... ... ... ... ...           -15.6 1.42 50.2 6.90 0.037    
Total Asset Growth % ...                           3.31 -1.65 -2.19 -1.10 7.78    
Shareholders' Equity Growth % ...                           8.19 8.57 12.2 -25.1 2.01    
Customer Deposit Growth % ...                           1.68 -3.21 -10.0 -8.54 12.8    
Retail Deposit Growth % ... ... ... ... ... ... ... ... ... ...         -1.92 -1.96 -9.20 ... ... ... ...
Corporate Deposit Growth % ... ... ... ... ... ... ... ... ... ...         3.69 -3.86 -10.4 ... ... ... ...
market share                                          
Market Share in Customer Loans %                             3.50 3.66 3.69 3.88 4.00    
Market Share in Corporate Loans % ... ... ... ... ... ... ... ...             3.08 3.60 5.63 5.85 6.48    
Market Share in Retail Loans % ... ... ... ... ... ... ... ...             3.06 3.16 6.61 6.49 6.48    
Market Share in Consumer Loans % ... ... ... ... ... ... ... ...             4.32 4.33 6.02 6.06 5.82    
Market Share in Mortgage Loans % ... ... ... ... ... ... ... ...             5.34 5.32 5.54 5.74 5.37    
Market Share in Total Assets %                             2.48 2.69 2.56 2.45 2.68    
Market Share in Customer Deposits %                             5.06 4.88 4.32 3.67 3.71    
Market Share in Retail Deposits % ... ... ... ... ... ... ... ... ...           3.28 3.25 3.27 ... ... ... ...
Market Share in Corporate Deposits % ... ... ... ... ... ... ... ... ...           11.0 10.6 8.29 ... ... ... ...
ratios Unit 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                                          
ROE %                             7.87 8.22 9.65 -28.7 12.7    
ROA %                             1.03 1.16 1.54 -4.30 1.59    
Costs (As % Of Assets) %                             6.10 6.69 6.23 6.46 5.73    
Costs (As % Of Income) %                             56.9 70.4 66.1 73.9 74.3    
Capital Adequacy Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ...
Net Interest Margin %                             7.41 7.16 6.24 5.51 4.58    
Interest Spread % ...                           7.12 6.78 5.89 5.34 4.50    
Asset Yield %                             9.32 9.48 8.07 6.45 5.19    
Cost Of Liabilities % ...                           2.20 2.70 2.18 1.10 0.698    
Interest Income (As % Of Revenues) %                             69.2 75.3 66.1 63.0 59.5    
Fee Income (As % Of Revenues) %                             13.3 14.2 24.8 31.4 33.9    
Other Income (As % Of Revenues) %                             17.5 10.5 9.09 5.56 6.55    
Cost Per Employee USD per month ... ... ... ... ...                   3,296 3,079 2,884 2,816 2,537    
Cost Per Employee (Local Currency) HUF per month ... ... ... ... ...                   662,787 692,791 645,044 671,436 695,068    
Staff Cost (As % Of Total Cost) %                             40.5 38.5 38.7 39.0 44.6    
Equity (As % Of Assets) %                             13.4 14.8 17.0 12.9 12.2    
Loans (As % Of Deposits) %                             87.5 82.0 88.0 98.8 80.4    
Loans (As % Assets) %                             68.7 63.4 62.6 64.9 55.3    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 18.8 18.9 17.2    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 91.7 91.0 96.2    
Provisions (As % Of Loans) % ... ... ... ... ...                   18.7 20.1 20.8 20.7 19.8    
Cost of Provisions (As % Of Loans) %                             4.90 1.64 1.28 1.20 -0.318    
other data Unit 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                                          
Branches ... ... ... ... ... ... ... ...             102 102 102 102 96.0    
Employees ... ... ... ... ...                   2,878 2,890 2,852 2,813 2,849    

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BB's costs (as % of assets) rose 3.81% to 5.01% in 2017

By Helgi Analytics - September 22, 2018

Budapest Bank's cost to income ratio reached 66.5% in 2017, up from 64.2% compared to the previous year. Historically, the bank’s costs reached an all time high of 77.1% of income in 2005 and an all time low of 51.7% in 2010. When compared to total assets,...

BB's corporate loans rose 13.6% to HUF 452,982 mil in 2017

By Helgi Analytics - September 22, 2018

Budapest Bank's loans reached HUF 747,041 mil in the 2017, up from HUF 683,374 mil compared to the previous year. Historically, the bank’s loans reached an all time high of HUF 799,949 mil in 2008 and an all time low of HUF 403,253 mil in 2005. In the l...

BB's mortgage loans rose 2.73% to HUF 162,649 mil in 2017

By Helgi Analytics - September 22, 2018

Budapest Bank's mortgage loans reached HUF 162,649 mil in 2017, up 2.73% compared to the previous year. Hungarian banking sector provided mortgage loans of HUF 3,030 bil in 2017, up 3.67% when compared to the last year. Budapest Bank accounted for 5.37% o...

BB's npls (as % of loans) fell 24.9% to 11.0% in 2017

By Helgi Analytics - September 22, 2018

Budapest Bank's non-performing loans reached 11.0% of total loans at the end of 2017, down from 14.7% compared to the previous year. Historically, the NPL ratio hit an all time high of 18.9% in 2014 and an all time low of 11.0% in 2017. Provision coverage a...

BB's employees fell 0.103% to 2,911 in 2017

By Helgi Analytics - September 22, 2018

Budapest Bank employed 2,911 persons in 2017, down 0.103% when compared to the previous year. Historically, the bank's workforce hit an all time high of 3,511 persons in 2008 and an all time low of 2,383 in 2005. Average cost reached USD 2,585 per month per emplo...

BB's total revenues rose 3.68% to HUF 76,599 mil in 2017

By Helgi Analytics - September 22, 2018

Budapest Bank generated total banking revenues of HUF 76,599 mil in 2017, up 3.68% compared to the previous year. Hungarian banking sector banking sector generated total revenues of HUF 1,358,153 mil in 2017, up 20.3% when compared to the last year. ...

BB's customer deposits rose 2.18% to HUF 699,155 mil in 2017

By Helgi Analytics - September 22, 2018

Budapest Bank's customer deposits reached HUF 699,155 mil in 2017, up 2.18% compared to the previous year. Hungarian banking sector accepted customer deposits of HUF 20,469 bil in 2017, up 7.74% when compared to the last year. Budapest Bank accounted for ...

BB's consumer loans rose 3.01% to HUF 127,767 mil in 2017

By Helgi Analytics - September 22, 2018

Budapest Bank's consumer loans reached HUF 127,767 mil in 2017, up 3.01% compared to the previous year. Hungarian banking sector provided consumer loans of HUF 2,323 bil in 2017, up 7.63% when compared to the last year. Budapest Bank accounted for 5.42% o...

BB's net interest income fell 4.48% to HUF 39,174 mil in 2017

By Helgi Analytics - September 22, 2018

Budapest Bank generated total banking revenues of HUF 76,599 mil in 2017, up 3.68% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of HUF 99,267 mil in 2011 and ...

BB's customer loan growth rose 26.5% to 13.5% in 2017

By Helgi Analytics - September 22, 2018

Budapest Bank's customer loan growth reached 13.5% in 2017, up from 10.7% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 34.3% in 2003 and an all time low of -13.3% in 2009. In the last decade, the average...

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Budapest Bank Zrt. is a Hungary-based bank offering retail and corporate products and services. As one of the first commercial banks in the country, it offers comprehensive financial services to individual and business customers since the establishment of the two-tier banking system in 1987. GE (General Electric Company) became majority shareholder in the Bank in 2001. In line with the overall strategy of GE, Budapest Bank focuses on consumer finance. With over 100 branches and more than 2,800 employees, the Bank maintains approximately 3% of Hungarian banking assets.

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Finance

Budapest Bank has been growing its revenues and asset by -0.912% and 4.91% a year on average in the last 3 years. Its loans and deposits have grown by 4.88% and 5.91% a year during that time and loans to deposits ratio reached 95.9% at the end of 2017. The company achieved an average return on equity of 11.3% in the last three years with net profit growing % a year on average. In terms of operating efficiency, its cost to income ratio reached 66.5% in 2017, compared to 68.3% average in the last three years.

Equity represented 13.5% of total assets or 20.8% of loans at the end of 2017. Budapest Bank's non-performing loans were 11.0% of total loans while provisions covered some 92.6% of NPLs at the end of 2017.