Over the next two years, ING Bank will become a full-service commercial bank, providing universal services to all its clients, and in order to meet this goal it might acquire several banks such as Banca Transilvania and Carpatica, Misu Negritoiu, General Manager at ING Bank told Business Standard.
“The main goal of ING Romania in the coming two years is organic development. In 2009 we will have about 350 branches throughout the country. Expansion is a more profitable investment than acquisition, such as that of Erste Bank-BCR,” Negritoiu said.
ING Bank
will continue to invest in the retail business line, which it began developing two years ago. “We have two business lines developing at differing paces, ING Wholesale and ING Retail Banking. Bank revenues began dropping in 2005, when we started to invest in the retail sector.
This year, the retail ratio will amount to over 20 percent of total ING Romania business, compared to 15 percent in 2006,” Negritoiu added. He estimated a net profit of €10 million for 2007, dropping by 50 percent from €20 million posted in 2006.
To consolidate its corporate segment position, ING Bank aims to become more accessible to its customers, by territorial expansion and a lower mandatory turnover ceiling for potential clients.
