The number of clients of ING Bank Romania has grown by 15 percent in the first half of the year compared to the first six months of 2017, reaching 1.2 million, while the balance of credits increased by 16 percent and the deposit balance by 26 percent. The bank registered a gross profit of RON 389 million, RON 89 million higher than the same period last year, while the net profit was RON 345 million.

The number of active clients increased by more than 155,000 in the past 12 months, reaching 1.2 million. The number of clients who receive their salary through ING increased by more than 145,000, a 23 percent increase at a faster pace than the overall customer base, which was 15 percent from one year to the next. The digital model implemented over the past year has led to a record 60 percent online interaction with customers who receive the salary at ING.

The level of loans extended to RON 23.1 billion at the end of June 2018, an increase of 16 percent in the last 12 months, marking a market share of approximately 9.4 percent, by 0.8 pp more than in June 2017. The distribution lending remains balanced between the segment of companies (43 percent) and that of individuals (57 percent). The balance of credits to small and medium-sized enterprises increased by 26 percent compared to last year, while the level of new loans to individuals increased by 10 percent.

The market share in the attracted deposits segment reached 8.9 percent on the basis of the organic growth of the portfolio of funds attracted from both individuals and companies. The net deposits of RON 6 billion in the last 12 months led to a total value of deposits of RON 29.3 billion, 26 percent higher than in June 2017.

The sustained increase in activity generated a gross profit of RON 389 million, RON 89 million higher than the same period last year, due to rising incomes by RON 177 million and the reduction of risk costs by RON 2 million, which compensates an increase of RON 93 million in operating expenses. Net profit reaches the end of the second quarter to RON 345 million.

The bank’s revenues increased by 25 percent compared to the same period last year, reaching RON 875 million lei. Interest income from S1 2017 also increased by about 21 percent, with the positive influence from the evolution of the average interest rates on the market.

Operating costs rose to RON 445 million, 26 percent more than in the same period last year. The increase is driven by the costs of moving the bank to the new headquarters and by the accelerated IT investments to improve the customer experience and the bank’s services, a concrete example being the change in the operational model announced earlier this year.

Expenditure on risk provisions is RON 41 million at the end of June 2018, with a growth of only 5 percent over the same period last year. Prudent risk policies maintained by the bank in recent years have led to a non-performing loan rate of 2.8 percent, down 0.6 percent over the past year, well below the market average.

“ING Bank Romania continues to consolidate its position by reporting a growing market share through sustained organic growth. We are determined to continue our sustainable lending policy for all business lines to maintain a balanced risk profile, a low-risk loan rate on a negative trend and, consequently, to have a responsible support for economic development in Romania. The accelerated pace of customer growth, especially in the salary segment at ING, comes as a confirmation that they appreciate ING’s services and the different experience we offer. Our goal is to support our customers to be one step ahead in achieving their personal and professional goals through simple, fast and secure services,” said Michal Szczurek, CEO of ING Bank Romania.

ING Group continued to report increases in customer numbers and lending volume. The number of primary clients increased by 400,000 in the second semester of this year to a total of 12 million; the total number of customers in the retail segment increased by 38.2 million. Net lending increased by EUR 14.2 billion, while net deposits amounted to 5.8 billion euros. ING reported a gross profit of EUR 2,022 million in the second half of 2018.

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