ING Bank Romania posts 9month profit up 23%

ING group posted pre-tax profit of 109million lei (€25.78million) for its operations in Romania in the nine months ending September 30, 23% above year-ago levels. Net revenues for Jan-Sep period jumped 48% year-on-year, to 539million lei (€127.5million).

Total assets under ING Bank Romania’s management increased 17% to 11.935billion lei at the end of September, while loan-to-deposit ratio remained constant throughout the first nine months at 95%, the bank said in a release.

“From this year, all our divisions generate profit, due to the underlying investments. This allows us to pursue our organic growth strategy and remain focused on our customers’ current needs”, said Misu Negritoiu (photo), chief executive of ING Bank Romania. “We plan on strengthening our position in the market and fulfilling the potential of the distribution network. We are also aiming for the leading position in the Romanian e-banking market and for 1million-persons customer base, while maintaining the operating performance and quality of services”.

The bank’s customer base has reached 847,000 at the end of third quarter this year, from 626,000 a year earlier.

“We have managed to prove once again this year that we are a strong, solid and customer-oriented company. In an ever-changing market, we obtained better results than in 2008 and we launched a wide range of new products”, said Albert Roggemans, deputy chief executive of ING Bank Romania.


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