ING Bank Romania sees double digit profit growth in Jan-Sep 2019

ING Bank Romania reported a gross profit of RON 704 million (EUR 148 mln) in the first three quarters of 2019, 17% higher than in the same period last year.

The net profit rose to RON 599 mln (EUR 124 mln). The profits thus rose faster than the stock of loans or deposits, which advanced with rates of around 10% year-on-year at the end of September.

The bank’s revenues increased by 13% compared to the same period last year, to RON 1.54 bln (EUR 323 mln), in the first 9 months of this year.

The stock of loans increased to RON 26.9 billion (EUR 5.66 bln) at the end of September, up 9% year-on-year. The loan portfolio is mainly generated by the retail segment, with 61% of the loans being extended to individual clients.

"In a market analysis that concerns only the newly contracted loans by natural persons, almost 1 in 5 credits are offered by ING," ING said in a press release.

The volume of deposits reached RON 34.3 bln (EUR 7.22 bln) at the end of the third quarter, an increase of 16% compared to the same moment last year. The market share for deposits thus reaches 9.5%, compared to 9% as recorded after the nine months of 2018.

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