ING Bank Romania’s profit surges by 29% y/y in H1, despite sluggish lending
The net profit of the Romanian subsidiary of ING Bank surged by 29% y/y to RON 75mn (EUR 125mn) in H1, while the sluggish lending (+3% y/y) more or less in line with the overall local market was not an impediment to higher profitability.
The bank’s annualised return on assets (ROA) thus reached nearly 2.4%, significantly above the market’s 1.9% average.
Its assets increased by 5% y/y to RON 63.16bn, 8.6% of the banking system’s assets at the end of June.
The stock of loans increased by only 3% y/y (+6.4% for the banking system) to RON 37.73bn (10.1% of the total non-government loans) at the end of June.
(Photo: Andrei Stanescu / Dreamstime)