ING Romania sees higher revenues on increased lending activity

ING Romania, one of the top ten local lenders, recorded a 22% increase in revenues, in the first nine months of this year versus the similar period of last year, to RON 1.05 billion (EUR 230 million). The revenue increase was mainly supported by the higher number of clients and loans offered through all business lines. The bank’s net profit went up by 35%, to RON 391 million (EUR 86 million). ING gained some 120,000 new clients in the first nine months and reached 665,000 recurrent clients from an active client base of 1.1 million customers. This was mainly due to the ING Card Complet offere, in which the bank eliminated all cash withdrawal fees from other banks’ ATMs for clients that get recurring revenues in their ING account. The bank also launched an instant consumer loan, which is available through a fully online process, on the Home Bank platform. The bank’s loan portfolio reached RON 21.1 billion (EUR 4.58 billion), up 24% over last year, and the market share on the loan segment reached 8.9%. The deposits from clients also went up by 21%, to RON 25 billion (EUR 5.43 billion), and the bank’s market share on this segment was 8.3%. editor@romania-insider.com