ING Bank posted a pre-tax profit of some EUR 52 million in Romania last year, which is a record for the local subsidiary, according to the bank. It also represented a 44 percent year-on-year increase. The bank managed to up its portfolio of loans by 2 percent, to some EUR 2.1 billion.
“ING had a record profit last year since entering the Romanian market, some RON 232 million (or EUR 52 million, e.n.). Compared to the loss in the system, of some RON 2.1 billion (or EUR 471 million, e.n.), it is an excellent result,” said Michal Szczurek, executive director of the bank.
The bank’s revenues were up 19 percent last year, to some EUR 187 million. Lending was up 2 percent, while the increase on the savings segment was higher – 7 percent on 2011, to some EUR 2.4 billion.
The bank’s assets were up 15 percent on 2011, to some EUR 3.6 billion.