about us | newsletter | contact | archive | members area
Bogdan Nitulescu, Tremend
Cryptocurrencies volatility is a big problem»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

ING Bank Romania to accelerate business development through digitization

Customers are increasingly interacting with the bank through its digital platforms and are making more card payments, according to a report issued by ING Bank Romania.

2018-03-29 16:46:10

"Home′ Bank grew significantly in 2017, reporting 830,000 active customers accessing the internet banking platform 69.6 million times last year, 64 per cent more than in 2016," said ING. "In December alone, the number of logins reached almost eight million. 52 per cent of all ING customers have used the mobile app. The Home′Bank Platform registered 22.3 million transactions, 27 per cent more than in 2016. Platform product sales were 73 per cent higher in 2017 compared to 2016."
In 2017, over 100 million transactions were recorded through POS and e-commerce platforms, 48 per cent more than in 2016. Contactless transactions rose 140 per cent last year, from 28 million to 67.2 million transactions.

"We have a culture of innovation, and our goal is to give our customers a great experience," said Michal Szczurek on ING Bank′s strategy in Romania. "That's why we are reinventing our platforms to become a solution to our clients financial needs by introducing - for example - digital credit through Home′Bank or a platform dedicated to entrepreneurs such as ING Business."
The end of 2017 marked a commercial growth for ING Bank Romania, which had total revenues of 1.4 billion RON, against the backdrop of the continuous growth of the active client portfolio reaching 1,141,000 customers. In 2017, ING Bank Romania ranked sixth in the Romanian banking system by assets. The gross profit of the company amounted to 584 million RON and the net profit to 493 million RON, mainly due to a balanced portfolio development, a well-controlled risk profile and an increase in the number of clients.

Excluding the extra income from the sale of Visa shares in 2016, ING Bank Romania earned revenues of 112 million RON, 20 per cent more than last year, while gross profit increased by 143 million RON in 2017, up 32 per cent from 2016. Considering the revenues from the sale of Visa shares in the second quarter of 2016, the company′s revenue increased by nine per cent and gross profit by three percent.

Investments in employees and digitization have led to an increase in operating costs of 87 million RON, totalling 752 million RON, 13 per cent higher than last year, due to the diversification of the activity, the increase in the number of employees, and the regulatory costs.

"With an efficient risk management and in the context of the sustained growth of the loan portfolio, the risk costs recorded in 2017 were five million RON higher than in the previous year, with provisions totalling 97 million RON. The rate of non-performing loans continued to decline, from 3.6 per cent to 3.3 per cent, well below the market average," the report shows.

Lending increased overall by 21 per cent in 2017, from 17.6 billion RON to 21.2 billion RON, with a balanced allocation between the individual clients (56 per cent) and companies (44 per cent). Thus, the market share in lending reached 8.9 per cent, from 7.7 per cent, with a clear preference for the local currency, with RON loans accounting for 76 per cent of the total loans. Lending to SMEs increased by 45 per cent compared to the previous year.

The value of deposits increased at the same pace, with attracted funds totalling 26.8 billion RON, 20 per cent more versus 2016. At the end of last year ING market share in attracted funds was 8.4 per cent compared to 7.7 per cent.

"We are offering a different banking model, which is gaining more and more ground in Romania," Szczurek added. "In 2017 ING was probably the fastest growing organic bank. I thank the clients and the ING team for this result. The number of customers is rising steadily and, according to the latest Net Promoter Score, we rank first in the top of their preferences."

The number of active clients ING Romania reached 1,141,000 in 2017, with 280,000 new clients last year. The company focused on expanding the number of customers with ING earnings, totalling 713,000 at the end of December, 23 per cent more than in the previous year.

According to the report, ING Romania has made the transition from a traditional way of organizing to an agile model inspired by technology giants such as Amazon, Netflix or Google: "The delivery of a large number of projects, processes and services is now carried out by 11 "tribes", organized into multidisciplinary teams that have the responsibility of planning and implementing change initiatives. The new approach has improved market launch times, product quality and competitiveness, and increased productivity."

The total number of clients for ING Group increased to 37.4 million in the past year. Overall, in 2017, there was a net increase in loans of 26.9 billion Euro and a net increase of 19.0 billion Euro in the deposits segment. The group's gross profit in 2017 rose 2.4 per cent to 7.1 billion Euro. Operating expenses increased in the fourth quarter as ING accelerated investment in digitization.

* Part of Digital Finance feature from the print edition



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  4046 Views
Daily Info
OTP Bank Romania posts 15 million Euro profit at the end of Q3 2018

OTP Bank Romania recorded a consolidated after-tax profit of 15.09 million Euro, in the first nine months of the year, almost twice as much as in the base period.

Black Sea Oil & Gas and Transgaz sign 15-year contract for the MGD Project gas production transmission into the NTS

Transgaz and Black Sea Oil & Gas signed the gas transmission contract for the transport of the Midia Gas Development Project (MGD Project) production into the National Transmi...

Almost 90 per cent of industrial and logistics stock is condensed in cities with highway access, says C&W Echinox

Romania's industrial and logistics market is currently benefitting from its best period in history, both in terms of supply and demand, with development being condensed in a n...

Meet the finalists and the winners of the first Automotive Awards Gala by The Diplomat-Bucharest!

Automotive Today powered by The Diplomat-Bucharest organizes Automotive Forum & Awards for Excellence Gala 2018 on 13 November at JW Marriott Hotel in Bucharest - Constanta Ba...

The second edition of Hacking Health awards three digital innovation projects for the Romanian health system

Hacking Health 2.0, the most important health hackathon in Central and Eastern Europe, took place this weekend in Bucharest at the initiative of Johnson & Johnson Romania, imp...

 
 
   
advertising

advertising

advertising

advertising

advertising

advertising

More on News
ArcelorMittal receives binding offer for European assets from Liberty

British-owned Liberty announced a conditional agreement to buy four European steel plants, employing more than 12,500 people.

EBRD cuts economic growth forecast for Romania

Romania's economy will grow by 4.2 per cent this year and by 3.6 per cent in 2019, according to the most recent forecast released by the European Bank for Reconstruction an...

Corina Popescu is the new CEO of Electrica

The Board of Directors of Electrica, one of the most valuable companies where the state is the main stakeholder, has agreed to end the collaboration with its CEO Dan Catali...

MOL Group posts 835 million USD profit for the first nine months of 2018

MOL Group announced its financial results for the third quarter of 2018. With a net profit of 323 million USD in Q3, the company reached a profit of 835 million USD for the...

Black Sea Oil & Gas and Transgaz sign 15-year contract for the MGD Project gas production transmission into the NTS

Transgaz and Black Sea Oil & Gas signed the gas transmission contract for the transport of the Midia Gas Development Project (MGD Project) production into the National Tran...

Violeta Luca is the new general manager of Microsoft Romania

Microsoft announces the appointment of Violeta Luca as general manager for operations in Romania starting in November this year. She joined Microsoft Romania for the first ...

Almost 90 per cent of industrial and logistics stock is condensed in cities with highway access, says C&W Echinox

Romania's industrial and logistics market is currently benefitting from its best period in history, both in terms of supply and demand, with development being condensed in ...