ING Bank Romania ups gross profit by 45% in the first half

ING Bank Romania recorded a gross profit of RON 303 million (some EUR 67 million) in the first half of 2017, up 45% year-on-year. Its total revenues stood at RON 698 (EUR 154 million), up 27% compared to the same period the previous year. The strong growth was mainly influenced by the retail and corporate client portfolio, but also by the operational cost and the controlled risk level, according to ING. ING Bank Romania’s net profit was RON 255 million (over EUR 56 million). The loan portfolio increased by 23% in the first half of the year, reaching RON 20 billion (EUR 4.4 billion). The market share for lending increased from 7.1% in the first half of 2016 to 8.6% in the same period of 2017. ING Bank Romania also increased the volume of deposits by 16%, to RON 23 billion (EUR 5 billion). At a group level, ING reported on August 2 a gross profit of EUR 2 billion. ING Bank sees record profit in Romania in Q1 Irina Marica, irina.marica@romania-insider.com