The number of ING ČR customers grew almost by 150 000 last year
02.03.2009
In 2008, retail part of ING has seen considerable growth despite difficult economic conditions. In most principal indicators – number of policies, premium written and also in assets under management – the company has seen growth. Especially the number of clients grew considerably and also assets under management of ING Konto more than doubled.
In 2008, retail part of ING ČR (life and health insurance, pension fund, mutual funds, savings account and mortgages) has seen 28 percent growth of assets under managementto 103 billion crowns. Also the number of customers grew by 17 percent and by 31st December 2008 over 1 million clients had a contract with ING. By entering into contract with ING, new clients have shown their trust in stability of ING and the company consolidated its market position even more.
ING posted net profit of 765 million CZK what is 31 percent less then in 2007 Total results were influenced by adverse development of financial markets in 2008 and lower investment income fees for client’s asset management.
Overall IFRS results of the retail part of ING *
|
2007 |
2008 |
Inter-annual growth |
|
|
Assets under management |
80 758 |
103 072 |
28 % |
|
Number of clients |
867 629 |
1 013 761 |
17 % |
|
Net profit |
1 123 |
765 |
- 31 % |
* in million crowns
“Core business indices continued to grow slowly but revaluation of portfolio caused decline in profit,” said Alexis George, CEO of ING ČR/SR. “After all I can enunciate that our company, performed well under adverse conditions and has shown its strength,” she added.
ING Life insurance
At the end of 2008 grew number of policies by 5.5% inter annually. Premium written by ING Insurance reached 7,88 billion crowns. In comparison with the same period of the previous year we have seen growth by 1 percent in premium.
Assets under management due to depreciation fell by 1,6 percent to 31,18 billion crowns. However, total assets grew and by the end of 2008 they amounted to 34,87 billion crowns.
Results of ING Life insurance*
|
2007 |
2008 |
interannual growth |
|
|
Premium written |
7 248 |
7 884 |
1 % |
|
Assets under management |
31 684 |
31 188 |
- 1,6 % |
|
Number of policies |
410 410 |
432 663 |
5,5 % |
|
Total assets |
33 802 |
34 870 |
3 % |
* in million crowns
ING Pension fund
In 2008, ING Pension fund shown stable development. In comparison with the previous year it acquired more clients and contracts. By 31st December 2008 ING Pension fund could boast more than half a million contracts which was by 9 percent more than in the previous year. The growth of the number of clients and policies written was reflected in the increase of assets under fund’s management which grew by 9 percent and amounted to 21,07 billion crowns. Also total assets grew beautifully by 15 percent to 22,19 billion crowns.
Results of ING Pension fund*
|
2007 |
2008 |
interannual growth |
|
|
Assets under management |
19 337 |
21 076 |
9 % |
|
Number of contracts |
465 624 |
508 750 |
9 % |
|
Total assets |
19 261 |
22 193 |
15 % |
* in million crowns
ING Funds and ING Konto
ING Konto continued to deliver well above the expectations. In 2007 the assets under management of ING Konto grew interannually by 105 percent, the year 2008 has seen another incredible growth by 123 percent. It now amounts to almost 50 billion crowns. T
What’s more, ING Konto has again triumphed in the Golden crown awards, in the “Account” category. In this competition, two hundred and sixty financial experts assess financial companies’ offers and choose the best products.
Golden crown for 2008 has also been awarded to the ING Supplementary pension insurance and the investment fund ING (L) Invest Energy. The investment fund ING (L) Invest Materials was awarded the Silver Crown this year.
Assets under management due to depreciation of ING Funds asset fell by 49 percent in 2008. Despite that the number of clients increased by solid 7%.
Results of ING Funds and ING Konto
|
2007 |
2008 |
interannual growth |
|
|
Assets under management (ING Konto) |
20 680 |
46 160 |
123 % |
|
Assets under management (ING Funds) |
9 045 |
4 637 |
- 49 % |
* in million crowns
The year 2008 in ING ČR saw also an improvement of customer services; customers can now manage their investment funds by internet banking, and the electronic signature was introduced as well.
ING ČR didn’t of course forget children last year and continued its successful program ING Chances for Children. This for instance entailed 8th year of the Tulip day, i.e. celebrations of child patients in the Teaching hospital Motol. Our company has also traditionally supported the UNICEF. Employees themselves took part in several voluntary activities devoted to ill children.
ING ČR has just like its Dutch headquarters taken pro-active steps which will help her cope in the difficult economic environment. The aim of these measures is to reduce insecurity about future, to reduce possible risks, lower costs and improve focus of the company. These steps will help the company adapt to a new environment and strengthen its position not only vis-a-vis competition, but especially vis-a-vis market.
***
ING is a global financial institution of a Dutch origin, offering banking, insurance and asset management services in over 50 countries worldwide. According to the latest global ranking by Fortune Magazine, ING is the largest financial institution in the world, based on revenue.
Contact: Alexandra Gjurić, Press Spokesperson; tel.: 257 473 290; fax: 257 473 555; e-mail:
komunikace@ing.cz
