ING Bank reports double-digit growth in Romania

ING Bank Romania recorded a gross profit of RON 451 million (EUR 96 million) in the first half of this year, up by 16% compared to the same period of 2018.

The bank’s revenues increased by 15%, to over RON 1 billion (EUR 213 million), due to higher activity volumes and increasing margins. Meanwhile, the operating costs only went up by 1%, to RON 451 million.

ING increased its credit portfolio by RON 4.1 billion (EUR 870 million) in the 12 months ended on June 30, 2019, to RON 27.3 billion (EUR 5.8 billion), as all business segments recorded increases of over 10%. The bank thus reached a market share on the lending segment of 10.4%. Loans to individual clients accounted for 58% of the total.

ING Bank had 1.35 million active clients at the end of June and the number of clients who used ING accounts for recurrent revenues (salary accounts) increased by 110,000 (or 18%) in the last 12 months.

ING also changed its CEO in the first half of this year, appointing Romanian Mihaela Bitu to replace Pole Michal Szczurek, who was promoted to Head of Retail for the Asia region.

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