ING Bank Romania: Gross profit worth 114m lei, up 77pc

ING Bank Romania has reported gross profit worth 114 million lei (some 26.8 million euros) in H1 2009, up 77 percent over the same period of the previous year, according to figures announced by the bank.

Net revenues stood at 399 million lei, in H1 2009, higher by 77 percent as against H1 2008.
ING Bank Romania’s results were prompted by the rise in the number of individual customers from 573,000 in H1 2008 to 826,000 customers in the same period of 2009 and the rise in the number of customers, small and medium-sized companies, from 5,438 to 12,191.

‘Although the economic environment of 2009 was a difficult one, ING Bank Romania proved it has a solid position at local level and has a strategy with long-term results.

Our results, as well as the strengthening of the ING Bank in Romania are proved that we’ve gained our customers’ confidence, companies and individuals alike, as we are very involved in the Romanian market,’ said Misu Negritoiu, general manager of ING Bank Romania.

‘ING has managed to raise market share in Romania and obtain good results. We have at present 230 selling points that will meet soon the needs of 1 million customers,’ said Albert Roggemans, deputy general manager of ING Bank Romania.

Despite the difficult economic context, ING Group has switched to profit in this quarter, reporting a major progress compared to the previous periods. If in Q1, 2009 the group’s loss was of only 305 million euros (compared to losses worth 3.073 million euros in Q4, 2008), in Q2 2009, ING Group has reported 229 million euros in profit.

According to ING, the solid economic performance reported by ING Group was mainly prompted by the rise in the revenues from interests and enhancement of profit margin for the products for savings and crediting, leading to a 19.4-percent rise of revenues from interests generated by banking operations,’ said Jan Hommen, CEO ING.

Since 1994 onwards, ING Bank has developed operations at a sustained pace, by diversifying portfolio of products and customers, by releasing new divisions of services (brokerage, leasing, factoring, real estate business) and by expanding the territorial network.
At present, ING Bank has 35 branches for companies and 187 units for individuals.

ING Romania is part of ING Group, international financial institution of Dutch origin, which provides bank services, insurance and asset management services to 60 million individuals, companies or institutions of 50 countries. With 130,000 staff, the group includes a wide range of companies, which provide services to customers under the name of ING.

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