Strong financial and commercial start for the 30th anniversary year for ING Bank Romania
For its 30th anniversary year, ING Bank Romania has a good start from both a financial and an operational perspective, with new relevant services offered to its individual and corporate clients.
For its 30th anniversary year, ING Bank Romania has a good start from both a financial and an operational perspective, with new relevant services offered to its individual and corporate clients.
“In 2024, we celebrate the 30th anniversary of our bank's operations, making this a special and meaningful year for our team. It is a time when we reflect with joy on our achievements and the active role we have played in the evolution of the Romanian banking sector. At the same time, we are excited about the opportunities to grow in the coming years and to continue bringing value to our clients through innovation and quality services. We are grateful to our clients for their trust, which motivates us daily to be better, and the ING team remains committed to promoting modern and transparent banking services that help clients achieve their goals and aspirations." - Mihaela Bîtu, Country Manager ING Bank Romania.
ING Bank Romania continued its growth path, reporting revenues of RON 877 million and total assets of RON 71.4 billion, an increase of 11.3% and 14.1%, respectively, compared to the same period last year. There is a noticeable trend of accelerated growth in deposits compared to loan portfolio, amid persistent inflation and relatively high interest rates. Thanks to continuous and prudent lending policies, provisions were still low at approximately RON 58 million, but higher than in the same period last year. In this context of asset and revenue growth, the reported net profit is RON 347 million, 1% higher than Q1 2023.
ING offered new loans to support the transition towards a more sustainable environment, offering eco-discount loans for individuals worth EUR 32 million, representing approximately 50% of the total value granted in 2023 (EUR 67 million). Loans with sustainability components granted to companies reached EUR 4.5 million for small businesses, respectively EUR 670 million in syndicated and bilateral loans for large companies. Regarding mutual funds with a sustainable component (article 9 according to SFDR), EUR 29 million were invested by individual clients in the first quarter.
New features for building the best client experience, based on real life needs
The beginning of the year brought a new product, ING Together, which is essentially a revolutionary financial health tool that makes a transition from an individual bank account to a collaborative banking approach: one bank account can have up to four users, who can manage shared budgets and perform a wide range of operations, such as transfers, online or card expenses, and savings. Thus, ING Together responds to a concrete need in the day to day life: that of an open and efficient joint spending management.
