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Sep 29, 2023 15:54 EEST
September 29 (SeeNews) - ING Bank Romania, part of Dutch ING Group, said that its net profit jumped by an annual 29% to 750 million lei ($160 million/150.8 million euro) in the first half of 2023.
Revenues rose by 15% on the year to 1.63 billion lei in the first six months of 2023, ING Bank Romania said in a press release on Thursday.
“In the first half of the year, we continued our positive course, reaching 1.73 million active customers - individuals and legal entities - while further increasing our bank's loan and deposit portfolio,” ING Bank Romania CEEO Mihaela Bitu said.
The ratio of non-performing loans was maintained at a low level of around 3%, Bitu added.
The lender’s loan portfolio expanded at a slower annual pace of 3%, reaching 37.73 billion lei in the first half, while deposits rose by 5% to 54.32 billion lei.
Provision costs fell by 67% year-on-year to 35 million lei in the six months through June.
Total assets grew by an annual 5% to 63.16 billion lei at the end of June.
Dutch banking group ING entered the Romanian market in 1994 and started developing its retail business in the country in 2004. The ING Group offers banking services to over 38 million clients in over 40 countries.
(1 euro=4.9746 lei)
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