ING Romania’s net profit gains 79 pct to RON 278 million in H1

ING Romania registered a net profit worth RON 278 million in the first six months of the year, which is 79 percent more than the last year. The growth was mainly due to the Visa shares sales in the second quarter and the higher lending activity.

The credit portfolio reached RON 16.3 billion at the end of the first semester, going up by 29 percent compared with the end of June 2015, reaching 71,000 new active clients in the first semester of 2016.

In the first half of the current year, the revenues grew by 39 percent compared with the first semester of 2015, reaching RON 675 million. The gain is due mainly to the Visa shares sales, but also to the continuous growth of loans. Excluding the Visa shares sales impact, the total revenue registered a growth of 13 percent to RON 552 million.

„During the first six months of the year, the leding activity grew by approximately 30 percent. We are focusing on the simplification of the banking services through innovation, so I am confident that we’ll offer a banking experience over standard, while we prepare the bank for the future challenges, ” said Michal Szczurek, CEO of ING Romania.

The operational costs grew to RON 311 million, with 13 percent more than the same period of the last year, mainly due to the increase in employees costs, regulations costs and technology and marketing investments. The risk costs grew to RON 30 million, from RON 22 million in the first half of the last year. The variations come from the loan volume growth.

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Moreover, non-performing loans rate continued to improve, from 5.5 percent in the first half of 2015 to 3.9 percent in the first six months of this year.

Georgiana Bendre