Digital strategy drives up ING’s results in Romania

ING Bank Romania, the local subsidiary of Dutch group ING, recorded total revenues of RON 1.43 billion (EUR 314 million) and a gross profit of RON 584 million (EUR 128 million). The revenues were 9% higher than in 2016 and the gross profit went up by 3% but excluding the one-off revenues from the Visa shares sale in 2016, the revenue growth was 20% and the profit increased by 32%, the bank announced. The bank focused its efforts on developing its digital channels, which helped it gain more clients and increase its market share both in terms of loans and deposits. ING thus advanced to sixth place in the local banks’ ranking based on assets. The bank reached 1.14 million clients in 2017, after drawing 280,000 new clients. Almost three in four clients (73%) used the Home’Bank online platform for payments and other operations. Moreover, half of the clients used the mobile app. ING increase its net loan portfolio by 21%, to RON 21.2 billion (EUR 4.56 billion), reaching a market share of 8.9%. The deposits from clients also grew by 20%, to RON 26.8 billion (EUR 5.76 billion), bringing its market share to 8.4%. In 2016, ING had a market share of 7.7% both for loans and deposits. ING Bank Romania launches digital platform for medium-sized companies editor@romania-insider.com