ING Bank Romania's revenues are constantly increasing; profit, however, might halve in 2007 compared with last year's figure due to the bank's intended investments. The investments could outstrip last year's, particularly with regard to network expansion, states Misu Negritoiu, the bank's general manager.

"We are not focusing on sales, but continue to be wary of risks. We aim to keep our credit portfolio well maintained and clean. We are not concerned about current profit, but rather about our portfolio quality five years from now," Misu Negritoiu told ZF.

In 2006, the bank generated a gross profit of 10.4m euros. However, Negritoiu, who took charge of ING Bank Romania almost a year ago, will not abandon the target of taking the bank's market share as close as possible to 10%. According to ING Romania's development policy - the bank's retail network is expected to expand to 300 branches by 2009, with the retail customer portfolio expected to include one million clients.

"We continue to carry out particularly clean operations, without an aggressive development, because we are not pursuing an increase in our market value. We already have an established base; the bank machinery has all the necessary systems in place, with the required staff and procedures and is proving to be successful. Over the next two years we will be building the critical mass of a universal bank," stated Negritoiu.

Negritoiu is not worried about losing some valuable people of the bank, such as those working in the securities or corporate departments, indicating that ING has constantly provided the market with specialists and that the mechanisms are solid enough to do without certain individuals.

In April, the bank introduced the concept of micro-firms, with turnovers below 2m euros, for the retail segment.

At the same time, Negritoiu has boasted that he is manag