ANNUAL REPORT 2011 - Magyar FejlesztÃ©si Bank Zrt.

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❙ 4. Loan programmes by MFB. The scope of parties eligible for government support under the programme is regulated in Ministerial Decree 133/2011. (XII. 22.) VM on the loans available for agricultural producers that sustained frost damage in May 2011. Loans are extended and financed directly by MFB. Bank Guarantee Programmes In the framework of the MFB Food Industry Bank Guarantee Programme MFB provides guarantees for 80% of the principal borrowed by food sector enterprises backed by the absolute direct suretyship of the central budget for 90% of the sum at stake. Enterprises borrowing working capital for a up to 5 years and up to HUF 2.5 billion from any of the participating commercial banks may apply directly to MFB for a bank guarantee under this programme. The terms and conditions of the MFB Economic Recovery Bank Guarantee Programme are similar to those of the Food Industry Bank Guarantee Programme, but the loan amount covered by this guarantee may not exceed HUF 5 billion. The total of HUF 80 billion available in the two programmes was sufficient to cover HUF 100 billion worth of working capital loans considering that guarantee exposure was limited to 80%. The application period of both programmes ended on 31 December 2011. By 31 December 2011, the Bank had approved 17 applications for HUF 12.2 billion under the Food Industry Bank Guarantee Programme and accepted 4 applications for HUF 7.2 billion in the Economic Recovery Bank Guarantee Programme. 40 MFB ANNUAL REPORT 2011
5. FUNDING The State secures the payment obligations of MFB arising from its fund raising operations by way of assuming ondemand absolute direct suretyship in accordance with Article 5(1)(a) of Act XX of 2001 on MFB Rt. Article 47(1) of Act CLXIX of 2010 on the state budget of the Republic of Hungary for 2011 set the overall limit for this repayment guarantee relating to funds with original maturities in excess of one year at HUF 1400 billion for 2011. In 2011 the Bank raised funds under volatile market circumstances due to the global crisis of money and capital markets, which had begun in 2008. Despite the crisis, MFB managed to realise its strategic funding goals, i.e.: ❙ covering the financing need required for its asset side activities and to repay its maturing debt as well as to secure the longterm financing needs of the Hungarian Export-Import Bank Private Limited Company; ❙ returning to the international bond market as issuer; ❙ strengthening the strategic financing relations with international and national development institutions. MFB raised a total of EUR 860 million from the international money and capital markets in 2011. A quarterly breakdown of funds raised shows the following: n n n n MFB ANNUAL REPORT 2011 41
Page 1: ANNUAL REPORT 2011
Page 5: GREETINGS All of the associates of
Page 8 and 9: ❙ THE OPERATING ENVIRONMENT OF MF
Page 17 and 18: THE RESULTS OF MFB HUNGARIAN DEVELO
Page 21 and 22: INDEPENDENT AUDITOR’S REPORT MFB
Page 23 and 24: Income Statement ❙ MFB HUNGARIAN
Page 25 and 26: Unconsolidated Income Statement acc
Page 29 and 30: 1. MFB HUNGARIAN DEVELOPMENT BANK P
Page 31: 1. MFB Magyar Fejlesztési Bank Zá
Page 35 and 36: 3. LENDING OPERATIONS By method, MF
Page 37 and 38: 4. hitelprogramok ❙ A magyar bank
Page 39 and 40: 4. hitelprogramok ❙
Page 41: 4. hitelprogramok ❙ 16 billion i
Page 45 and 46: 6. MFB BANKING GROUP Agrarian Group
Page 47 and 48: 7. K O M M U N I K Á C I Ó, Ü G
Page 49 and 50: 8. MFB INDICATOR The MFB INDICATOR
Page 51 and 52: 8. AZ MFB-INDIKÁTOR ❙ of the ma
Page 53 and 54: 8. AZ MFB-INDIKÁTOR ❙
Page 55 and 56: 8. AZ MFB-indikátor ❙ n n
Page 58 and 59: 9. THE BOARD OF DIRECTORS AND THE S
Page 61: MFB MAGYAR FEJLESZTÉSI BANK ZÁRTK

ANNUAL REPORT 2011 - Magyar FejlesztÃ©si Bank Zrt.

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