MFB - Hungarian Development Bank
Issuer Profile SSA , 21. May
MFB is Hungary’s National Development Bank since 1991, founded by the State of Hungary.
MFB has more than 900 employees in 8 Group companies and capital funds and a balance sheet of over HUF 3,800bn. It offers banking, investment, EU fund management, debt management/factoring, venture capital funding and property management.
In 2024, direct lending to customers accounted for roughly 88% and lending to banks for 12% of the credit portfolio on a risk weighted exposure of HUF 4,310bn (+11%). Group net earnings improved by 48% to HUF 43.6bn, capital adequacy remained comfortable at 14.7% (2023: 16.2%).
Financial liabilities were sourced mainly from bond issues (58%), denominated in HUF, EUR and also USD, among which are also benchmark sizes, and bank loans (40%). 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 stable outlook by Fitch, and Baa2 by Moody’s, with negative outlook. Due to the state guarantee, the ratings are equalized with the ratings of Hungary.
MFB has more than 900 employees in 8 Group companies and capital funds and a balance sheet of over HUF 3,800bn. It offers banking, investment, EU fund management, debt management/factoring, venture capital funding and property management.
In 2024, direct lending to customers accounted for roughly 88% and lending to banks for 12% of the credit portfolio on a risk weighted exposure of HUF 4,310bn (+11%). Group net earnings improved by 48% to HUF 43.6bn, capital adequacy remained comfortable at 14.7% (2023: 16.2%).
Financial liabilities were sourced mainly from bond issues (58%), denominated in HUF, EUR and also USD, among which are also benchmark sizes, and bank loans (40%). 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 stable outlook by Fitch, and Baa2 by Moody’s, with negative outlook. Due to the state guarantee, the ratings are equalized with the ratings of Hungary.