Mbh Mortgage Bank Co. Plc. · BET:TAKAREKJZB
Mbh Mortgage Bank — FY2025 Earnings Presentation
33 slides from Mbh Mortgage Bank's earnings presentation, Apr 24, 2026
Slide 1: MBH Mortgage Bank Co. Plc. 2025 Investor presentation
MBH Mortgage Bank Co. Plc. 2025 Investor presentation 24th April 2026
Slide 2: Agenda
Business and earnings KPIs – summary 3 Business environment 5 Profit and Loss developments, Balance sheet 8 Refinanced portfolio, Own originated loans 12 Mortgage bond issuance 15 Green mortgage bond, ESG 26 Abbreviations 30 Disclaimer 32 This presentation is to support the understanding of the unde
Slide 3: Business and earnings KPIs – summary
Business and earnings KPIs – summary
Slide 4: Business and earnings KPIs – summary
Business and earnings KPIs – summary ▪ MBH Mortgage Bank reached more than 34% higher profit than a year before and remained its second position in the Hungarian mortgage bank sector in 2025. ▪ Profit before tax reached HUF 9.4 billion in 2025: it increased by HUF 2.2 billion (+30.6 y/y) compared to
Slide 5: Business environment
Business environment M3 Morteace BANK
Slide 6: Economy is recovering – mortgage lending has exploded
Economy is recovering – mortgage lending has exploded Economic growth, fixed investments Mortgage-backed loans (source of data: KSH) (source of data: MNB) HOME START SCHEME RESHAPED THE MARKET: in Q4 2025 the volume of new mortgage PHASE OF STAGNATION SLOWLY LEFT BEHIND: over the past two years quar
Slide 7: Persistently high housing price inflation – the number of newly built flats remains subdued
Persistently high housing price inflation – the number of newly built flats remains subdued Annual rate of inflation, house prices Quarterly housing market indicators (source of data: KSH, MNB) (source of data: KSH, Duna House) ▪ INFLATION ENTERED THE TOLERANCE BAND: Supported partly by margin caps,
Slide 8: Profit and Loss developments, Balance sheet
Profit and Loss developments, Balance sheet
Slide 9: HUF 9.4 billion pre-tax profit in 2025
HUF 9.4 billion pre-tax profit in 2025 Y/Y development of profit before tax H/H development of profit before tax (HUF billion) (HUF billion) +30.6% -63.3% 9.4 6.9 7.2 2.5 2024 FY 2025 FY H1 2025 H2 2025 ▪ MBH Mortgage Bank’s profit before tax came at a favourable HUF 9.4 billion despite the paid spe
Slide 10: Pre-tax profit up 30.6% compared to the previous year
Pre-tax profit up 30.6% compared to the previous year The profit before tax of the Mortgage Bank reached HUF 9.4 billion in 2025 (+30.6% y/y): ▪ The bank’s net operating profit exceeded the 2024 level by 14.1%, reaching 11.8 billion forints. Although the bank’s net interest income decreased by 8.1%
Slide 11: Issued debt securities increased by 32.6% y/y
Issued debt securities increased by 32.6% y/y The total assets of MBH Mortgage Bank reached HUF 775.7 billion at the end of 2025 (-13.1% y/y): ▪ In 2025, MBH Mortgage Bank raised a total of HUF 163.7 billion from the capital market in the form of mortgage bonds and unsecured bonds. ▪ Compared to the
Slide 12: Refinanced portfolio, Own originated loans
Refinanced portfolio, Own originated loans
Slide 13: Refinanced portfolio rose on both annual and half-year basis
Refinanced portfolio rose on both annual and half-year basis - MBH Bank remains the dominant refinancing partner Development of the refinanced portfolio * Development of refinanced portfolio (HUF billion) by counterparty (%) +9.0% 431 395 MBH 98.5% Other 31.12.2024. 31.12.2025. 31.12.2025 ▪ Refinanc
Slide 14: Steady decline in the own originated gross loan portfolio
Steady decline in the own originated gross loan portfolio - in line with the business strategy Breakdown of own originated gross loans* (HUF billion) 68.0 ▪ The Bank discontinued granting own 4.6 originated loans in 2018, hence the stock of 53.5 the remaining loans has been amortizing at 0.5 an acce
Slide 15: Mortgage bond issuance
Mortgage bond issuance M3 Morteace BANK
Slide 16: Upper medium level Moody's rating for MBH MB's covered bonds
Upper medium level Moody’s rating for MBH MB’s covered bonds Covered bond: long-term A1 Long- and short-term issuer rating: Ba3/NP Long- and short-term counterparty risk rating: Baa3/P-3 Long- and short-term counterparty risk assessment: Baa3(cr)/P-3(cr) ➢ Moody’s assessed the ratings’ outlook as st
Slide 17: Presence in the Capital Market, European Premium Covered Bond Logo, Energy Efficient Mortgage Label
Presence in the Capital Market, European Premium Covered Bond Logo, Energy Efficient Mortgage Label ▪ Nearly 30 years of experience in the capital market ▪ Shares have been listed on the BSE since 2003 ▪ The most active mortgage bond issuer on the domestic market in 2025: 5 stock exchange auctions a
Slide 18: Permanent issuer activity in both green and non-green mortgage bonds
Permanent issuer activity in both green and non-green mortgage bonds Mortgage bond issuance and outstanding amount (HUF billion) ▪ MBH MB organized 8 public auctions and subscriptions in H2 2025 and issued a total of HUF 10.24 billion local currency denominated non- green, HUF 8.39 billion green and
Slide 19: Increasing mortgage bond stock – steady 17-18% market share
Increasing mortgage bond stock – steady 17-18% market share Market share of the Bank in the mortgage bond segment Share of domestic mortgage banks in the volume of (based on face value, HUF bn) outstanding mortgage bonds* (based on face value), end-2025 ▪ The face value of mortgage bonds issued by M
Slide 20: Domestic and international covered bond market presence
Domestic and international covered bond market presence Distribution of MBH MB’s Share of issuers of new mortgage bond issues in 2025 covered bond new issues in 2025 Domestic and international markets Domestic market ▪ Multichannel issue structure ▪ Second largest share in new ▪ The most active issu
Slide 21: Digitalization in business services - MBH Index and MBH AVM
Digitalization in business services - MBH Index and MBH AVM MBH House Price Index MBH AVM with more than a hundred data points Automated property valuation AVM MBH House Price Index has been continuously measuring AVM is an automated (residential) property valuation model residential property prices
Slide 22: Maturity structure of issued securities
Maturity structure of issued securities Maturity structure of MBH MB covered bonds and unsecured bonds (31 December 2025) (HUF million) ▪ Re-purchase/switch auctions ahead 35,000 of scheduled maturities serve as tools for decreasing maturity concentration. ▪ 5Y or longer fixed coupon mortgage 35,000
Slide 23: New mortgage bond issuances: a significant shift toward international market
New mortgage bond issuances: a significant shift toward international market Interest rate composition of FX composition of outstanding Share of Green Mortgage Bond outstanding mortgage bonds mortgage bonds in total mortgage bond volume (31.12.2025) (31.12.2025) (31.12.2025) 9,0% 13% 19% 2025 H2 13%
Slide 24: OC exceeded 20% in H2 2025
OC exceeded 20% in H2 2025 Cover pool composition and OC (in HUF billion) Strict regulatory requirements for the structure of cover pool assets and over- collateralisation ▪ Minimum 2% of over- collateralisation ▪ 180-day liquidity buffer (liquid assets covering the 180-day max. net cumulated outflo
Slide 25: Cover pool assets: homogenous portfolio structure, low average LTV
Cover pool assets: homogenous portfolio structure, low average LTV Asset types of cover pool Interest rate composition of cover pool FX composition of cover pool (31.12.2025) 0,0% 20% 7% H2 2025 10% H2 2025 1% 4% H2 2024 H2 2024 95% 90% 80% 93% 100,0% Residential loans Commercial loans HUF Other Flo
Slide 26: Green mortgage bond, ESG
Green mortgage bond, ESG iy MORTGAGE BANK
Slide 27: Moody's SPO: MBH MB's Green Covered Bond Framework is aligned with best market practices
Moody’s SPO: MBH MB’s Green Covered Bond Framework is aligned with best market practices Green transparency reports: Starting from the first quarter of 2022, MBH MB publishes different reports in relation to outstanding mortgage bonds and cover assets for the same reporting day on a quarterly basis.
Slide 28: The proportion of green mortgage bonds remains stable at around 13%
The proportion of green mortgage bonds remains stable at around 13% within the outstanding mortgage bond portfolio Green mortgage bonds In H2 2025 MBH MB’s outstanding green mortgage bond portfolio Green mortgage bond outstanding amount and green cover asset pool increased by HUF 8.4 billion to HUF
Slide 29: Standalone ESG strategy and Sustainability report
Standalone ESG strategy and Sustainability report ESG project results for 2025 ▪ Review of the Green Covered Bond Framework: Development of the selection and impact assessment model for green mortgage loans ▪ Identification of the list of material topics related to the Sustainability Report (2025) ▪
Slide 30: Abbreviations
Abbreviations M3 Morteace BANK
Slide 31: Abbreviations
M3H Abbreviations MORTGAGE BANK Bank, MBH MB MBH Mortgage Bank ROE, ROAE Return on (average) equity Mortgage Bank ROA, ROAA Return on (average) assets NBH, HNB National Bank of Hungary CIR Cost-to-income ratio ESG Environment, Social, Governance KPI Key Performance Indicator GBP Green Bond Principle
Slide 32: Disclaimer
Disclaimer M3 Morteace BANK
Slide 33: Disclaimer
Disclaimer This presentation contains statements that are or may be deemed to be, “forward-looking statements” which are prospective in nature. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Investor relations Forward-looking