Question 1

What is MBH Jelzálogbank?

Accepted Answer

MBH Jelzálogbank is a specialized mortgage credit institution in Hungary that focuses exclusively on refinancing mortgage loans and issuing covered mortgage bonds. Previously known as Takarék Jelzálogbank and FHB Jelzálogbank, it is Hungary's most active covered bond issuer on the domestic capital market and has been a significant player in Hungarian mortgage lending since its establishment.

Question 2

When was MBH Jelzálogbank founded?

Accepted Answer

MBH Jelzálogbank was established in 1997 (incorporated in 1998) with the principal business of refinancing development and purchases of residential real estate and disbursement of state-subsidized housing loans. The bank was listed on the Budapest Stock Exchange in November 2003.

The bank was a member of the Takarék Group between 2015 and 2023. From May 1, 2023, it became a member of the MBH Group and adopted its current name. The bank was authorized by Hungarian authorities on April 23, 2019 under regulatory requirements.

Question 3

Where is MBH Jelzálogbank headquartered?

Accepted Answer

MBH Jelzálogbank is headquartered in Budapest, specifically at Magyar Tudósok körútja 9/G in the 11th district of the capital.

Question 4

Where does MBH Jelzálogbank operate?

Accepted Answer

MBH Jelzálogbank operates throughout Hungary, providing mortgage refinancing services nationwide. The bank works through refinancing partner banks, an agent network, and direct channels to make mortgage-based financing available across all Hungarian regions.

As a specialized institution, it does not operate traditional retail branches but instead partners with commercial banks and financial institutions throughout Hungary to refinance their mortgage loan portfolios.

Question 5

What services does MBH Jelzálogbank offer?

Accepted Answer

MBH Jelzálogbank specializes in refinancing mortgage loans for residential real estate purchases and development. The bank's core activity involves acquiring mortgage loans originated by other financial institutions and funding these acquisitions through the issuance of covered mortgage bonds (fedezett jelzáloglevelek).

The bank issues both covered bonds and senior unsecured bonds on the Hungarian capital market, which are listed securities on the Budapest Stock Exchange. Its mortgage bond liabilities exceeded HUF 434 billion as of 2024, with refinanced mortgage loans totaling approximately HUF 395 billion.

MBH Jelzálogbank provides placements with other banks and engages in wholesale funding activities through specific short and medium-term issuance programs. The bank does not accept retail customer deposits, focusing entirely on institutional wholesale funding and mortgage refinancing.

Question 6

What makes MBH Jelzálogbank unique?

Accepted Answer

MBH Jelzálogbank is Hungary's most active covered bond issuer and created the foundation for mortgage-based financing with a mortgage bank background in the Hungarian market. The bank plays a crucial infrastructure role in Hungary's housing finance system by providing liquidity to mortgage lenders.

As of 2023, MBH Jelzálogbank ranked as the 12th largest bank in Hungary with a market share of 1.28% and total assets of HUF 906.59 billion. The bank achieved a 0.77% return on assets and 8.93% return on equity, demonstrating strong profitability.

Unlike traditional banks, MBH Jelzálogbank does not participate in the standard deposit guarantee scheme (it is classified under NA_NODGS) because it does not take retail deposits. Its business model is entirely focused on the wholesale refinancing of mortgage loans through capital market funding.

Question 7

What type of financial institution is MBH Jelzálogbank?

Accepted Answer

MBH Jelzálogbank is a jelzálogbank (mortgage bank), a specialized type of credit institution in Hungary dedicated to mortgage lending and covered bond issuance. Operating as a nyilvánosan működő részvénytársaság (publicly traded limited company), it represents a distinct category of financial institution under Hungarian banking law.

Mortgage banks in Hungary are specialized institutions that refinance mortgage loans by issuing covered bonds, providing a critical link between capital markets and housing finance. The bank is supervised by the Magyar Nemzeti Bank under specific regulatory requirements for mortgage credit institutions.

MBH Jelzálogbank

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About MBH Jelzálogbank in Hungary

MBH Jelzál­ogbank