Mbh Mortgage Bank Co. Plc. · BET:TAKAREKJZB
Mbh Mortgage Bank — H1 2026 Earnings Presentation
32 slides from Mbh Mortgage Bank's earnings presentation, Aug 28, 2026
Slide 1: MBH Mortgage Bank Co. Plc. 1H 2026 Investor presentation
MBH Mortgage Bank Co. Plc. 1H 2026 Investor presentation 28th August 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 14 Cover pool 21 Digitalization, green mortgage bond, ESG 25 Abbreviations 29 Disclaimer 31 This presentation is to support
Slide 3: Business and earnings KPIs – summary
Business and earnings KPIs – summary
Slide 4: Business and earnings KPIs – summary
Business and earnings KPIs – summary A1 Moody’s Covered Bond Rating 2nd largest MB in Hungary KPI value KPI y/y h1/h2 4
Slide 5: Business environment
Business environment M3 Morteace BANK
Slide 6: Economic growth remains modest, while mortgage lending remains buoyant
Economic growth remains modest, while mortgage lending remains buoyant Economic growth, fixed investments Mortgage-backed loans (source of data: KSH) (source of data: MNB) HOME START REMAINS UNABATED: In the second quarter of 2026, the volume of new mortgage GROWTH MOMENTUM HAS SLOWED: Following the
Slide 7: U-turn in house price developments – the number of newly built flats is higher
U-turn in house price developments – the number of newly built flats is higher, still poor though Annual rate of inflation, house prices Quarterly housing market indicators (source of data: KSH, MNB) (source of data: KSH, Duna House) ▪ INFLATION DID NOT ACCELERATE: Partly owing to the continued effe
Slide 8: Profit and Loss developments, Balance sheet
Profit and Loss developments, Balance sheet
Slide 9: Pre-tax loss of HUF 2.0 billion in the first half of 2026
Pre-tax loss of HUF 2.0 billion in the first half of 2026 Y/Y development of profit before tax H/H development of profit before tax (HUF billion) (HUF billion) 6.9 2.5 -8.8 -4.5 -2.0 -2.0 H1 2025 H1 2026 H2 2025 H1 2026 ▪ MBH Mortgage Bank recorded a pre-tax loss of HUF 2.0 billion (-8.8 billion Ft
Slide 10: HUF 2.0 billion loss in H1 2026
HUF 2.0 billion loss in H1 2026 The loss before tax of the Mortgage Bank amounted to HUF 2.0 billion in H1 2026: ▪ The bank’s net operating profit amounted to HUF 294 million (H1 2025: 8.3 billion). ▪ The lower figure is explained by a decline in net interest income resulting from the falling yield
Slide 11: Total assets increased by nearly 20% y/y
Total assets increased by nearly 20% y/y The total assets of MBH Mortgage Bank reached HUF 1,023.9 billion at the end of H1 2026 (+19.3% y/y): ▪ In the first half of 2026, MBH Mortgage Bank continued to implement its diversified funding strategy. The weight of international market presence in the ov
Slide 12: Refinanced portfolio, Own originated loans
Refinanced portfolio, Own originated loans
Slide 13: Refinanced portfolio increased significantly on both annual and semi-annual basis
Refinanced portfolio increased significantly on both annual and a semi- annual basis Development of the refinanced portfolio1 Breakdown of own originated gross loans2 (HUF billion) (HUF billion) The composition of the existing portfolio: +48.5% 68.0 ▪ subsidized loans: 39% 4,6 601 ▪ HUF denominated
Slide 14: Mortgage bond issuance
Mortgage bond issuance M3 Morteace BANK
Slide 15: 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 16: MBH MB mortgage bonds on international stages: EEML and European Premium Covered Bond Logo
MBH MB mortgage bonds on international stages: European Energy Efficient Mortgage Label and European Premium Covered Bond Logo The European Energy Efficient Mortgage Label (EEML) has been awarded to MBH Mortgage Bank on the basis of objective criteria by an independent advisory body associated with
Slide 17: Decades of capital market experience, key player on the domestic mortgage bond market
Decades of capital market experience, key player on the domestic mortgage bond market Permanent Budapest Stock Exchange presence, stable second position on the domestic mortgage bond market Share of issuers of new mortgage bond issues in H1 2026 Mortgage banks’ share in the volume of outstanding mor
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) 700 180 MNB green CB HUFbn HUFbn programme 160 ▪ MBH MB organized 2 public auctions 600 and 6 subscriptions in H1 2026 and 140 issued a total of HUF 8.6 billion local 500
Slide 19: 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 (30.06.2026) (30.06.2026) (30.06.2026) 9% 14% 13% H1 2026 36,4%
Slide 20: Maturity structure of issued securities
Maturity structure of issued securities Maturity structure of MBH MB covered bonds and unsecured bonds (June 30, 2026) (HUF million) 35,000 ▪ Re-purchase/switch auctions help reduce maturity concentration. ▪ 5Y+ fixed-rate mortgage bonds 35,000 align with the loan portfolio’s maturity structure. ▪ G
Slide 21: Cover pool
Cover pool M3 Morteace BANK
Slide 22: OC exceeded 20% in H1 2026
OC exceeded 20% in H1 2026 Cover pool composition and OC (in HUF billion) 50% 700 45% 600 40% Strict regulatory requirements for the structure of cover pool 35% assets and over-collateralisation 500 30% ▪ Minimum 2% of over- 400 collateralisation 25% ▪ 180-day liquidity buffer (liquid 300 20% assets
Slide 23: Cover Pool Overview
Cover Pool Overview Remaining maturity structure LTV composition of loans TOTAL ASSETS IN THE COVER POOL of cover pool loans (H1 2026) in the cover pool (H1 2026) 550 HUF 718 bn 180 HUF bn 500 160 450 140 Residential loans HUF 594 bn 400 120 350 HUF bn Substitute assets - 100 300 80 250 Liquid asset
Slide 24: Cover pool assets: high quality loans, homogenous portfolio structure, low NPL
Cover pool assets: high quality loans, homogenous portfolio structure, low NPL Asset types of cover pool Interest rate composition of cover pool 4% 17% 8% H1 2026 16% H1 2026 Loans in default* (in pct. of cover pool) H1 2025 H1 2025 Loans in default (%, MHB MB) 84% 92% 0,03% 83% 96% 0,02% Residentia
Slide 25: Digitalization, green mortgage bond, ESG
Digitalization, green mortgage bond, ESG
Slide 26: 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 27: Green mortgage bonds represent around 10% in the total issued mortgage bond portfolio
Green mortgage bonds represent around 10% in the total issued mortgage bond portfolio Green mortgage bonds In H1 2026, the eligible green mortgage loan portfolio decreased to HUF Green mortgage bond outstanding amount and green cover asset pool 70.9 billion, while the outstanding volume of green mor
Slide 28: ESG strategy, reporting and transparency
ESG strategy, reporting and transparency 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. Green transparency Reports related to MBH MB’s
Slide 29: Abbreviations
Abbreviations M3 Morteace BANK
Slide 30: Abbreviations
M3H Abbreviations MORTGAGE BANK Mortgage Bank, MBH Mortgage Bank KPI Key Performance Indicator Bank, MBH MB ROE, ROAE Return on (average) equity NBH, HNB National Bank of Hungary ROA, ROAA Return on (average) assets ESG Environment, Social, Governance C/A Cost-to-Assets ratio EEML Energy Efficient M
Slide 31: Disclaimer
Disclaimer M3 Morteace BANK
Slide 32: 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