ING Romania ups profit by 9%

Local lender ING Romania recorded a net profit of EUR 56.4 million in the first nine months of the year, up by 9% year-on-year. Its revenues amounted to EUR 168.3 million, 12% higher compared to the previous year. Between January and September the total costs reached EUR 93.6 million, up by 11% year-on-year. The expenses costs increased due to the investments in technology, in business applications for customers and in developing the bank’s IT platforms. The loan portfolio rose by 21% reaching EUR 2.9 billion. The bank’s market share reached 5.7% at the end of September, up from 4.6% after the first nine months of 2014. The lending in lei has increased by 43% in the last twelve months, reaching EUR 1.6 billion. The lending for small and medium-sized enterprises contributed by 25% to the total lending in local currency. editor@romania-insider.com