ING Bank CR announces the best Net Profit result in the Czech history: 44% increase to CZK 354 Million in 2007
ING Bank Czech Republic realized a net profit of CZK 354 million in 2007. The result is the best in the Czech history and shows stable and continuous growth of the branch on the local market. ING Bank CR generated an attractive net profit of 44% raise in comparison to 2006 that is in line with a great ING Group result reported for 2007 (20.1% net profit raise) showing a strong balance sheet, continuous growth of customer base and solid risk management that helped ING protect from the market turmoil. In 2007 the client business in the Czech Republic grew with more than 14% and in 2008 ING Bank CR plans to broaden the clients’ base and open its second representative office in Brno.
"We report a strong raise in net profit of 44% to CZK 354 million and it is the best result in our history since 1992 when ING Bank N.V. opened its branch office in Prague,” says Rolf-Jan Zweep, CEO ING Bank CR and General Manager Wholesale Banking, and he adds: "Our strong result in 2007 was mainly pushed by net interest income increase of 30% and improved performance on financial markets (both sales and trading) and further more supported by a solid risk management and strong balance, as well as by some high value added deals implemented together with our colleagues in ING Wholesale Banking Amsterdam and ING Wholesale Banking London."
"In 2008, ING Bank CR will focus on implementing its strategy for Top Line Growth that will include broadening the client base and opening a new representative office in Brno,” continues Rolf-Jan Zweep. “Over the past 15 years of our existence on the Czech market we have proven to be a good quality partner to large corporate clients and financial institutions and now having a strong position and knowledge of the market we see a great opportunity in the increasing potential of domestic corporates to whom we can offer from basic to most sophisticated financial solutions,” finishes Rolf-Jan Zweep.
The total balance sheet amount slightly decreased by 5% to CZK 56.7 billion. The year 2007 confirmed the popularity of ING Konto’s deposit accounts which increased by 101% to CZK 20.2 billion. ING Bank CR also confirmed its position in Asset management services with an increase of values taken into custody, administration and deposit by 20% to CZK 170.3 billion at the end of 2007.
Key financial figures:
|CZK million||2007||2006||% change|
|Results before Risk Costs||474||325||46%|
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 2006 its assets totalled over CZK 56 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 75 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.
Marketing & Communications Manager