Local bank ING Romania recorded a net profit of EUR 18.7 million in the first quarter of this year, up by 3% over the one recorded in the same period of 2015.

The lender’s revenues grew by 13% to EUR 60.4 million. Its operating costs also grew by 15% to EUR 34.3 million.

The bank increased its turnover due to higher revenues from interest rates, fees, and foreign currency transactions.

The bank’s loan portfolio went up by a quarter in the last year to almost EUR 3.2 billion.

The non-performing loans ratio dropped to 4.6% in the first quarter of the year from 5.9% in the same period of 2015.

editor@romania-insider.com