ING Bank reports EUR 18.5 mln profit in Q1, up 9 pct

ING Bank Romania registered in Q1 2015 a net profit of RON 82 million (EUR 18.5 million), up by 9 percent compared to the same period last year and the loan portfolio increased by 12 percent over Q1 2014 reaching RON 11.387 million (EUR 2.6 million).

According to a press release, the market share in lending rose to 4.9 percent in 2015 from 4.6 percent in Q1 2014 and the market share in attracted funds amounted to 6.1 percent compared to 5.5 percent in the same period of the previous year.

The cost/income ratio has improved compared to the same period the previous year, decreasing by 56 percent in Q1 2015 compared to 60 percent in Q1 2014. This improvement is due to the fact that the positive evolution of the revenues exceeded the costs’ increase.

Total costs recorded an increase of 9 percent, which is generated by the investments in technology from the first period of 2015. Thus, the total costs in Q1 2015 reached RON 134 million (EUR 30.2 million) compared to RON 123 million (EUR 27.7 million) in the same period of the previous year.

The loan portfolio increased by 12 percent to RON 11.387 million (EUR 2.6 million) compared to RON 10.192 millions (EUR 2.3 million) in Q1 2014, the increase being influenced by the activity on all customer segments, with a significant contribution (50 percent) of the mid corporate and SMEs customers.

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The market share in lending rose to 4.9 percent compared to 4.6 percent in Q1 2014, being recorded an accelerated growth in RON lending. Of the total portfolio, the share of lending in RON rose to 50 percent in Q1 2015 compared to 45 percent in the same period of 2014.

The attracted funds also rose to RON 14.559 million (EUR 3.3 million), up 13 percent against Q1 2014, evolution due mainly to the growth registered in the retail segment where both the number of depositor customers and the average value of per client funds increased.

In the first quarter of 2015 the bank won 44,000 new individual customers to whom adds a portfolio of clients active both on traditional and on digital channels.

Staff