ING Bank Romania’s pre-tax profit doubled in first half 2009 to 114 million lei (26.95 million euros), up 101% from a year earlier on 77% increase in net incomes.
“Despite the struggling environment, ING Bank Romania affirms its solid position in the local banking system and strategy with long-term results. The performance of the bank as well as the consolidation of our presence in Romania are irrefutable proves that we gained the trust of our clients, individual clients and companies, while staying actively involved in the Romanian market”, said Misu Negritoiu, managing director of ING Bank Romania.
The number of individual clients of ING Bank’s local subsidiary increased from 573,000 in first half 2008 to 826,000 in H1 this year. Similarly, the number of small-business clients of ING went up to 12,191 from 5.438 a year-ago half.
The YoY 16% increase in total assets in first half up to 10.477 million lei (2,477 mn euros) , as well as its loan-to-deposit ratio of 98% secures a solid position of the bank in the local banking landscape.
“These results reflect primarily the value of ING team: in tough economic times, when market fluctuations impacted all segments of the economy, ING Bank managed to increase its market share and to have good results. Our network currently covers 230 retail points that serve over 1 million clients”, said Albert Roggemans, deputy managing director of ING Bank Romania.
