ING sees gross profit fall 20 percent

ING Bank Romania posted a 2009 gross profit of RON 84 million, 20 percent down on 2008, and a RON 695 million net income, up 30 percent on the previous year, bank officials have said. The gross profit was affected by the significant rise in provision costs compared with 2008. The lender posted RON 11,063 million of total assets at the end of 2009, while its credit portfolio dipped by 3 percent, to RON 7,254 million. Its customer base rose by 17 percent, from 769,000 in 2008 to 902,000 at the end of 2009. The number of SME customers doubled to 17,000. The bank’s credits/deposits ratio reached 84 percent.

“The organic growth and sustainable strategy of ING Bank Romania and the prudent risk policy have tempered the impact of the crisis on the company. Through additional efforts we have maintained our competitiveness and the quality of our services in a difficult economic environment,” said Misu Negritoiu, CEO of ING Bank Romania.

The lender has also launched new products and services both for companies and individuals. ING Web Card (a package dedicated to online payments), ING Savings for Kids (ING Economii pentru Copii), ING Card with photo (ING Card cu poza) and ING Deposit (ING Depozit) target individual customers. On the corporate side, the lender has launched new offers and continued to develop existing ones: ING OnLine, Direct Debit and e-POS solutions.

“We intend to increase income and lending in 2010, and we will continue to maintain a prudent risk policy, consolidate our branch network and increase our market share,” said Negritoiu. He added that the bank intended to exceed 1 million individual customers this year.

Anda Dragan

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