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ING Bank Romania, net profit drops to 320 million RON in Q1
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ING Bank Romania announced in the first semester a profit before tax dropping to 369 million RON, by 18 pct smaller than last year, and a net profit of 320 million RON, dropping by 17 pct, according to a release of the bank.

According to the quoted source, total incomes recorded an increase of 4 pct, reaching 1.05 billion RON. The credit portfolio reached the total value of 27.9 billion RON, recording a 2 pct increase. Crediting for individuals grew more rapidly than in the case of companies, reaching a share of 61 pct of the entire portfolio.

The bank mentions that the deposit portfolio reached a total value of 41 billion RON, reaching a 24 pct increase, in the context of customers being more visibly concerned with saving options. At the current time, over 36 pct of ING individual clients have a savings account.

According to the release, the operational costs increased by 6 pct over last year, reaching 479 million RON, especially following the increase in the number of employees and the salary fund. Costs for provisions increased in this quarter by 94 pct, to 200 million RON, in anticipation of the negative economic effects of the health crisis, given the unfavorable context in some economic sectors and the increase of the unemployment rate. For the moment, the rate of non-performing credits remained at a low level, of 4 pct.

ING Bank Romania mentions that it rapidly implemented the scheme to postpone payments for credits and undertook the analysis of requests received from individuals and companies in the better part of Q2. 95 pct of the requests to postpone payments were approved both for individual clients (29,100 requests approved for individuals), as well as for companies (1,400 requests approved for SMEs).

The bank mentions that SMEs also had the possibility to apply for the IMM Invest programme. Of the 6,300 requests received, ING has presently 2,500 applications for credits in various stages of approval. The total approved sum until the end of June reached approximately 400 million RON.


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