ING Bank Romania sees 56% profit increase due to Visa sale

Local lender ING Bank Romania recorded a 56% increase in its profit after the first nine months of the year. The largest contribution came from the sale of the Visa shares. The total revenues of ING Bank Romania went up by 32% year-on-year, reaching over EUR 218.8 million. The increase is due to the business growth, as well as the sale of the shares in Visa Europe to Visa Inc, which added some EUR 22.3 million to the net profit, according to the bank’s press release. Excluding the impact of the sale of the company’s shares in Visa, the total revenues amounted to EUR 191.6 million, up 16% year-on-year, and the net profit totaled EUR 64.2 million, up 15% over the first nine months of 2015. The lender managed to attract over 100,000 new active customers during this period, said Michal Szczurek, ING Romania CEO. editor@romania-insider.com