ING’s net profit, up by 9 pc in Romania after the first nine months of 2015

ING Romania recorded in the first nine months of 2015 a net profit of RON 251 million, up 9 percent over the same period last year, with total revenue that reached RON 748 million, up by 12 percent over the previous year, the financial institution announced on Thursday.

During January – September period, total costs have reached to RON 416 million, up by 11 percent over the same period last year, mainly due to investments in technology, business applications for customers and bank’s IT platforms developing.

Cost to income ratio improved slightly compared to the previous year, dropping to 56 percent from 57 percent in 2014.

The loan portfolio increased by 21 percent to RON 13.15 billion from RON 10.84 billion at end-September 2014. The bank’s funds have increased to RON 16.46 billion, up by 24 percent yoy. Consequently, at end-September of this year, ING’s market share in lending reached to 5.7 percent, from 4.6 percent in the same period of last year. At the same time, the market share in funds grew to 6.7 percent, compared to 5 6 percent the previous year.

Throughout the last twelve months, lending in RON increased by 43 percent to RON 7.405 billion, with a balanced contribution of both segments – retail and corporate, lending to SMEs contributing to this by 25 percent.

In the first nine months of 2015, ING has attracted 150,000 new customers, up by 30 percent compared to the same period in 2014, mainly due to the new ING Card Complet offer and ‘Porteaza-ti Banii’ solution.

Also, ‘ING Personal Loan’ new offer launched in September has completely changed the lending process, the bank remarks.