Profit up 77 pc in time of crisis for ING Bank Romania

The performances of the institution were determined by the growth of the number of individual clients to 826,000 in the first half 2009 and the growth of the number of clients small and medium sized enterprises to 12,191.

ING Bank Romania registered a gross profit of RON 114 M in the first half 2009, up 77 per cent vs. the same period of 2008, according to the data announced by the bank in a press release.

The net revenues amounted to RON 399 M in the first half 2009, 77 per cent bigger than in the first half year 2008. ING Bank Romania performances were determined by the growth of the number of individual clients from 573,000 in the first half 2008 to 826,000 clients in the same period of 2009 and the growth of the number of clients small and medium sized enterprises from 5,438 to 12,191. The 16 per cent growth of the total assets in the first half 2009 vs. the same period of 2008, to RON 10.477 M, and a loans/deposits ratio of 98 per cent assured for the bank a solid position on the Romanian market. "Although the economic environment in 2009 was difficult, ING Bank Romania demonstrated that it has a solid position at local level and a strategy that has long term results. Our performances, and the consolidation of ING Bank presence in Romania are proofs that we have won the confidence of our clients, companies and individual clients, being really involved on the Romanian market," declared Misu Negritoiu, general director ING Bank Romania.

"ING managed to increase its market share in Romania and to obtain very good results. We have now 230 selling points which will meet soon the needs of one million clients," said Albert Roggemans, deputy general director ING Bank Romania.

ING Group is back to profit

In spite of the difficult economic context, ING Group has returned to profit in this quarter, registering a significant progress compared to the previous period. If in the first quarter 2009 the loss of the group was only EUR 305 M (vs. losses of EUR 3.073 M in the fourth quarter 2008), in the second quarter 2009 ING Group reports a profit of EUR 229 M. According to ING, the solid economic performance registered by ING Group was due especially to the growth of the revenues from interest rates and the cost reduction programme. "ING registered a solid performance in this quarter as a result of a more favourable environment for the installments of the interest rates and the improvement of the profit margin for the savings and crediting products, which conducted to a growth of 19.4 per cent of the revenues from the interest rates generated by the banking operations," declared Jan Hommen, CEO ING.

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