September 16 (SeeNews) - The net profit of ING Bank Romania rose by an annual 39% to 535 million lei ($108.5 million/108.6 million euro) in the first half of 2022, it said.
Provision costs fell by 23% year-on-year in the first half of 2022, to 103 million lei, ING Bank Romania said in a press release.
The bank's revenues grew 20% on the year to 1.33 billion lei in January-June.
ING Romania's loan portfolio expanded by 20% year-on-year to 36.51 billion lei in the first half, while deposits rose by 11% to 51.32 billion lei.
"In the second quarter we continued to play an active role in the transition to a green economy. Thus, we initiated sustainable lending addressed to small and medium sized clients, which complements the portfolio of green lending products already offered to individuals and corporate clients. We still have ambitious plans in this area," ING Romania CEO Mihaela Bitu said.
ING Bank Romania is a unit of Dutch banking group ING, which entered the Romanian market in 1994 and started developing its retail business in the country in 2004. The bank serves some 1.7 million clients.
The ING Group offers banking services to over 38.4 million clients in 40 countries.
(1 euro=4.9259 lei)
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