In 2006, ING Bank ranked seventh according to value of total assets, but this year the Dutch bank could be outrun by banks such as Alpha Bank and Volksbank. "The volume of the bank’s assets amounts to some nine billion lei [€3 bln] in the first three quarters, because the retail sector is still developing. Growth in terms of assets is some 20 percent, and there is a possibility that the assets of other banks have risen above market average. We will be in the top ten in 2007 as well," said Negritoiu.
According to an ING report published yesterday, the Romanian subsidiary posted a 16 percent increase in the number of retail clients for Q3, up to 406,000. The bank's objective for 2007 is 600,000 clients, while in 2008 it intends to reach one million.
"ING's consumer loan sector market share rose from 1.2 percent last December to 1.9 percent by the end of August," according to the report. As for household savings, ING has a 5.2 percent market share, and the bank has opened a further 11 offices, for a total of 134.
The Dutch financial group ING operates in in the areas of banking, insurance, and brokerage services. Dutch banking group ING posted net profits for Q3 2007 of €2.3 bln, owing to the sale of ABN Amro shares, and has forecast return of investments of up to €1 bln.
