ING reports gross profit up by 22 per cent at 392 million lei in 2015

ING Bank recorded last year a gross profit of 392 million lei, up by 22 per cent against 2014, as the risk costs went down by almost 8 per cent at 55 million lei and the increase of the total income by 13 per cent at 1.02 billion lei, announced on Wednesday the credit institution.

2016-03-07 16:05:42

The net profit was at 333 million lei, being with 15 per cent higher than in 2014, when it was situated at 290 million lei. The balance of offered loans went up by 29 per cent at almost 14.44 bilion lei, the market share owned by the bank on the segment of lending being 56.3 per cent up from 4.8 per cent in 2014, according to their own data.

The credits for SMEs had the highest advance of 77 per cent. Lending in the national currency reached a balance of 8.66 billion lei, up by 60 per cent. Loans for natural persons represented 46 per cent , the rest of 54 per cent going to companies.

The bank has 7,000 clients from SMEs up by 36 per cent against the previous year, and the bank assets on this segment advanced by 77 per cent. Out of the total of retail loans, the mortgage financing contributed to the growth of lending by almost 70 per cent. The number of non-performing loans was reduced from 5.7 per cent to 5.1 per cent. The deposits drawn from the clients reached 18.55 billion lei with an advance equal to that of lending of 29 per cent.The market share on deposits is at 6.9 per cent as compared to 6 per cent at the end of 2014.

Natural persons placed 63 per cent from the funds, and the companies had deposits representing 37 per cent of the portfolio. ING Bank drew last year 96,000 clients active individuals, so that the total portfolio has 866,000 clients. The total costs appreciated by 9 per cent at 575 million lei as the activity was increased, investments in the development of the IT infrastructure and the business applications, the regulation costs and new employees.

The risk cost dropped from 60 million lei in 2014 to 55 million lei last year, in the context of a careful policy of lending for risk management.The report cost/income was reduced by 2 percentage points at 56 per cent and the yield of the capital (ROE) went up from 20 per cent to 24 per cent.
The clients used more and more digital channels, so that the number of contacts in the internet banking ap accessed from the computer went up by 17 per cent at 23 million and from the mobile increased eighth times at 10 million accesses.

The bank hired last year 309 people, out of whom 35 per cent were used in the IT, digital and business intelligence domains.