It said revenues grew 16%, to RON491 million, on higher activity volume. Operating costs grew 7%, to RON221 million, impacted by regulations and salary costs.
It said it’s non-performing loan rate stood at 3.5% in the first quarter, slightly higher than at the end of 2018.
Its loans volume grew 22% over the past 12 months, reaching RON26.1 billion at the end of March, with growth in both retail and corporate loans. Retail loans account for 58% of the total and corporate loans account for 42%. The bank said lending to SMEs grew 22% on the year in the first quarter.
The bank’s market share grew to 10.1% from 9% at the end of March 2018.
Deposits grew 11% on the year in the first quarter, standing at RON31.05 billion end-March. The bank’s market share on this segment reached 9% from 8.8% end-March 2018.
“In the first quarter of the year the number of ING customers grew by 78,000 on all client segments,” said outgoing CEO Michal Szczurek. Szczurek was CEO of ING Bank Romania for the past seven years and will move on to manage the retail division of ING Asia as of July 1.
The bank’s active retail customer base grew 12% on the year, to 1.32 million, and the number of clients with recurring revenue in ING accounts reached 873,000, up 17% on the year.