ING Romania ended 2015 with a gross profit of RON 392 million, up 22 percent compared to the same period last year, and a net profit of RON 333 million, according to the latest financial data released on Wednesday.
Total revenue increased by 22 percent to RON 1.022 billion following business growth, client portfolio and volume of their activity, and total costs stood to RON 575 million, 9 percent more than in 2014 mainly due to increased activity, investments in developing IT infrastructure, regulatory costs and new employees.
At end-2015, the loans volume to customers exceeded RON 14.4 billion, 29 percent higher than at the end of previous year. Market average grew by 3 percent, according to ING.
ING Romania has a market share of 6.3 percent in lending, up 4.8 percent compared with the end of 2014. Customer deposits increased by 29 percent to over RON 18.5 billion, so its market share in deposits reached to 6.9 percent (6 percent in 2014). In 2015, had drawn 96,000 active individual customers to a total of 866,000.
“I think ING’s greatest achievement in 2015 is lending growth, both for companies and individuals,” Michal Szczurek, CEO ING Bank Romania said.
At group level, ING Bank recorded a net profit of over EUR 4.21 billion in 2015, 23.2 percent higher than in 2014.