MFB Hungarian Development Bank
Issuer Profile SSA , 16. Nov.
MFB is Hungary’s national development bank and since 1993 enjoys outstanding importance for the development of the national economy.
With more than 820 employees in 15 Group companies the balance sheet grew by 26% to HUF 2,994bn in 2022. Group net earnings jumped to HUF 26.8bn.
Together with a HUF 170bn capital increase, the regulatory capital rose to HUF 619bn, giving capital adequacy of a stable 16.6% at the end of 2022.
Funding of financial liabilities is sourced mainly from bond issues, thereof denominated in HUF, EUR and recently also USD, among which are also benchmark sizes, and bank loans. Since February 2023, MFB also offers a Sustainable Financing Framework.
All funding transactions are covered by an explicit, direct and irrevocable state guarantee. MFB is rated BBB, with negative outlook by Fitch, and Baa2 by Moody’s, with stable outlook. Due to the state guarantee, the ratings are equalized with the ratings of Hungary.
With more than 820 employees in 15 Group companies the balance sheet grew by 26% to HUF 2,994bn in 2022. Group net earnings jumped to HUF 26.8bn.
Together with a HUF 170bn capital increase, the regulatory capital rose to HUF 619bn, giving capital adequacy of a stable 16.6% at the end of 2022.
Funding of financial liabilities is sourced mainly from bond issues, thereof denominated in HUF, EUR and recently also USD, among which are also benchmark sizes, and bank loans. Since February 2023, MFB also offers a Sustainable Financing Framework.
All funding transactions are covered by an explicit, direct and irrevocable state guarantee. MFB is rated BBB, with negative outlook by Fitch, and Baa2 by Moody’s, with stable outlook. Due to the state guarantee, the ratings are equalized with the ratings of Hungary.