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ING Bank, gross profit up by 45 pc, growing market share

ING Bank Romania’s revenues, up by 32 pc in in the first three months

ING Bank Romania announced a 32 percent increase in revenues in the first three months of this year, up to RON 425 million, a press release informs.

The number of active clients increased by 15 percent compared to the same period last year and the number of clients with the salary at ING increased by 24 percent in the last year.

At the same time, the gross profit reached RON 214 million, by RON 95 million more than in the same period last year, due to a strong increase in revenues, as well as well-controlled risk and operational costs. Net profit reached RON 193 million.

According to the release, the operational costs reached RON 206 million, up 17 percent year-on-year, due to the changes brought to the operational model and the investments in IT infrastructure, business apps, expenses with new employees and regulation costs.

The rate of non-performing loans is steadily decreasing, reaching to 3.1 percent at the end of the first quarter, 0.6 percentage points less than in March 2017.

The bank’s loan portfolio reached RON 21.4 billion at the end of March 2018, up 16 percent from 12 months ago, covering a market share of 8.9 percent, an increase of 0.9 percentage points versus March 2017.

Over the past year, ING Bank has attracted 150,000 new customers, a significant increase on all business lines and at end-March 2018, the financial institution reported 623,500 users of ING Home’Bank, up by 25 percent.

About Anca Bernovici

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