ING spells Q1 success
ING Bank Śląski has posted a net profit of zł.135.7 million in the first three months of 2005 - more than doubling the zł.53 million made in the first quarter of last year.
Revenue from banking operations also increased, reaching zł.432.3 million - 11 percent more than in the same period last year. Return on equity increased from 13.2 percent at the end of 2004 to 16.8 percent in Q1 of 2005. "It was a good quarter for the bank," the president of the bank's management board, Brunon Bartkiewicz, concluded.
The bank's costs were 11 percent higher year-on-year. Personal costs were 15 percent higher than in Q1 of 2004. Bartkiewicz explained: "This is the result of our bank's pro-sale activities - increasing employment, investing in training and developing a call center."
The bank has strengthened its position in the household deposit market and also saw an increase in sales of deposit products to individual clients and small enterprises. However, there was less income from corporate clients' deposits. As far as loan operations go, there was a noticeable increase in the SME segment, but the demand for loans from strategic corporate clients was low. Mortgage value, on the other hand, grew to zł.753.2 million in March from zł.750.7 million at the end of 2004.
ING Bank Śląski's internet banking service is developing rapidly, growing from 153,000 users at the end of December to 200,000 at the end of the first quarter. Bartkiewicz added that calculations show further internet-banking growth in April which "exceeded expectations."
Revenue from banking operations also increased, reaching zł.432.3 million - 11 percent more than in the same period last year. Return on equity increased from 13.2 percent at the end of 2004 to 16.8 percent in Q1 of 2005. "It was a good quarter for the bank," the president of the bank's management board, Brunon Bartkiewicz, concluded.
The bank's costs were 11 percent higher year-on-year. Personal costs were 15 percent higher than in Q1 of 2004. Bartkiewicz explained: "This is the result of our bank's pro-sale activities - increasing employment, investing in training and developing a call center."
The bank has strengthened its position in the household deposit market and also saw an increase in sales of deposit products to individual clients and small enterprises. However, there was less income from corporate clients' deposits. As far as loan operations go, there was a noticeable increase in the SME segment, but the demand for loans from strategic corporate clients was low. Mortgage value, on the other hand, grew to zł.753.2 million in March from zł.750.7 million at the end of 2004.
ING Bank Śląski's internet banking service is developing rapidly, growing from 153,000 users at the end of December to 200,000 at the end of the first quarter. Bartkiewicz added that calculations show further internet-banking growth in April which "exceeded expectations."
