ING Bank CR announces Net Profit result of CZK 238 Million in 2008
ING Bank Czech Republic realized a net profit of CZK 238 million in 2008. Taking into account CZK 200 million of yearly revaluations of our bond portfolios, the net profit would have increased by 86%, which is a very positive result in these difficult times. During this year, ING Bank plans to continue it’s current strategy of building long-term sustainable position in the Czech market and is ready to provide financial solutions not only to current but also to new corporate and institutional clients.
„I am proud of what we have, together with our colleagues, achieved in 2008. Even though the economic atmosphere is fairly unfavorable, we were able to increase the volume of loans by 146% to a total amount of CZK 25 billion. On top of that, thanks to prudent risk management, the share of classified loans has not increased,” says Rolf-Jan Zweep, CEO ING Bank CR and General Manager Wholesale Banking, and he adds: “The difficult times proved the correctness of our business strategy, which is based on building long-term mutually profitable relationship between a client and the bank. Detailed knowledge of client’s situation allows us to evaluate various possibilities and to proactively offer solution according to his specific needs.“
The total balance sheet amount increased by 127% to a total of CZK 129 billon. Year 2008 confirmed popularity of ING Konto savings accounts with the increase in deposit volumes by 125% to CZK 46 billion compared to the year 2007.
“As well in the year 2009, we will continue to be a valuable partner to large corporate clients and financial institutions and offer them tailor-made solutions that will help them overcome current turbulent times. Personally, I believe that the economic crisis brings not only negatives but also new opportunities. I am confident that such opportunities will turn up for our clients as well. Thanks to our knowledge of the local environment and with our specialists from Amsterdam and London, we are ready to support various transactions with high added value.” concludes Rolf-Jan Zweep.
A table of basic financial information can be found HERE.
Informace pro média:
ING Wholesale Banking is a business name for the corporate banking activities of ING Bank N.V. It was founded in the Czech Republic in 1992 as an organisation part of ING Bank N.V. Amsterdam. In 2008 its assets totalled over CZK 128 billion. ING Wholesale Banking is a member of the Prague Stock Exchange and the Czech Banking Association.
ING is a global financial institution of Dutch origin, offering services in the banking, insurance and assets management area. It provides its services to 85 million of private, corporate and institutional clients in 50 countries. With more than 120,000 employees and a broad spectrum of premium corporations it owns, ING serves clients under the ING brand.
ING Group is a responsible corporation and has globally initiated the ‘Chances for Children’ project. In the Czech Republic, as part of this global campaign, ING Wholesale Banking established partnership with the Tereza Maxova Foundation, whose aims are ideally aligned with ING’s own strategy – supporting educational, leisure and sports activities. This partnership is unique in the way that grants are allocated; the grants committee includes Foundation executives as well as ING Wholesale Banking employees.
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