In the first half of 2024, ING Bank Śląski saw an increase in customer numbers and solidified its market share in the credit market, despite lower demand for financing. Total revenues for the first half-year rose to PLN 5,462 million, taking into account the cost of credit holidays at PLN 170.5 million. The cost of credit risk was significantly higher than in the previous year – no trend was recorded in this category. Higher risk costs are a result of the prolonged low activity of the entire economy. The net profit for the first half-year was PLN 1,958 million compared to PLN 2,008 million in the comparable period of the previous year.
“In the first half of 2024, we maintained the pace of our development, as evidenced by the number of new customers we acquired and their transaction activity. The increase is less visible in balance sheet volumes, but they reflect the slowness of the economic growth. We see some signs of recovery, but the situation is not as dynamic as we would like. We are recording relatively low consumption growth, still low pace of corporate investment, and the negative impact of the external environment, that is stagnation in the countries with which we have the most trade contacts. In the first half of the year, the bank achieved a high pace of revenue growth while keeping costs under control. However, the bank’s results were burdened by credit moratoriums and an increase in risk costs associated with the economic cycle. As a result, the net profit for the first half-year was PLN 1,958 million compared to PLN 2,008 million in the comparable period of the previous year,” said Brunon Bartkiewicz, President of ING Bank Śląski.
“In recent months, we have carried out actions to support the security of our customers – both individuals and companies. We have enabled the ‘My ING’ application to check whether the person calling during a phone call is an employee of the bank. This way , the customer can make sure that they are talking to the right person and exclude fraud. In addition, we actively warned customers about scams and extortion on the internet through safety messages sent to customers in the form of sms or push notifications,” said the President of ING Bank Śląski.
“Last quarter, in line with our strategy, we continued our efforts to increase the level of digitization. Compared to the same period of the previous year, in ‘My ING’, retail banking system, we recorded a 10% increase in outgoing electronic transfers. Out of 4.3 million customers having access to internet banking (an increase of 2% y/y), more than 2.1 million are considered ‘mobile only’ customers (an increase of 12% y/y). At the same time, we recorded a further increase in debit card transactions by 6% y/y and BLIK transactions by 26% y/y. We observe a successive decrease (by 4%) in the number of transactions carried out at the bank’s branches. In corporate banking in the second quarter, the number of transfers increased by 4%, of which a 13% increase occurred in mobile banking. Compared to the same period last year, the number of transactions at the bank’s payment terminals offered by the bank increased by 24%. The number of stores with an active payment gateway increased by 24% to 9.4 thousand,” added Brunon Bartkiewicz.
The most important business results of the ING Bank Śląski Group achieved in the first half of 2024 compared to the same period of the previous year:
– Number of retail banking customers 4,499 thousand (an increase of 63 thousand y/y), including 2.2 million primary customers (an increase of 100 thousand y/y),
– Number of corporate banking customers 568 thousand (an increase of 19.6 thousand y/y), of which 447.4 thousand are entrepreneurs (an increase of 10.6 thousand y/y), 117.1 thousand are medium and large companies (an increase of 9 thousand y/y), 3.4 thousand are strategic customers (similar level y/y),
– Increase in the value of loans by 4% to PLN 163.8 billion,
– Increase in deposits by 12% to PLN 209.2 billion.
The most important business results of the ING Bank Śląski Group achieved in the first half of 2024 compared to the same period of the previous year:
– Total income increased by 7% to PLN 5,461.8 million,
– Total costs increased by 12% to PLN 2,067.4 million,
– Result before risk costs increased by 5% to PLN 3,394.4 million,
– Gross profit decreased by 5% to PLN 2,513.5 million,
– Net profit decreased by 2% to PLN 1,958.0 million,
– Cost (with bank tax) / income ratio was 44.6% compared to 42.7% in the previous year,
– Total capital ratio was 15.42% compared to 16.95% in the previous year,
– Return on equity (ROE) after adjusting for MCFH was 21.1% compared to 13.5% in the previous year.
Source: https://managerplus.pl/ing-bank-slaski-zwieksza-liczbe-klientow-ale-zysk-hamuje-60808
