ING Bank Bulgaria

ING's net profit fell 187% to BGN -2.26 mil in 2017

By Helgi Analytics - September 3, 2018

ING Bank Bulgaria made a net profit of BGN -2.26 mil under revenues of BGN 18.9 mil in 2017, up -187% and 5.56% respectively compared...

ING's customer deposits rose 23.8% to BGN 668 mil in 2017

By Helgi Analytics - September 3, 2018

ING Bank Bulgaria's customer deposits reached BGN 668 mil in 2017, up 23.8% compared to the previous year. Bulgarian banking se...

ING's total revenues rose 5.56% to BGN 18.9 mil in 2017

By Helgi Analytics - September 20, 2018

ING Bank Bulgaria generated total banking revenues of BGN 18.9 mil in 2017, up 5.56% compared to the previous year. Bulgar...

Profit Statement 2015 2016 2017
Net Interest Income BGN mil 9.82 8.41 6.81
Fee Income (As % Of Revenues) % 18.1 20.2 16.0
Other Income BGN mil 6.95 5.90 9.10
Total Revenues BGN mil 20.5 17.9 18.9
Operating Profit BGN mil 1.91 0.063 -2.56
Provisions BGN mil 5.42 0.868 -0.298
Net Profit BGN mil -3.51 -0.788 -2.26
Balance Sheet 2015 2016 2017
Customer Loans BGN mil 316 256 346
Debt Securities BGN mil 136 123 106
Total Assets BGN mil 586 541 671
Shareholders' Equity BGN mil -2.41 -2.43 -3.80
Interbank Borrowing BGN mil 3.05 0.150 1.69
Customer Deposits BGN mil 582 540 668
Issued Debt Securities BGN mil 3.05 0.150 1.69
Ratios 2015 2016 2017
ROE % 1,177 32.6 72.5
ROA % -0.592 -0.140 -0.373
Costs (As % Of Assets) % 3.14 3.18 3.55
Costs (As % Of Income) % 90.7 99.6 113
Net Interest Margin % 1.66 1.49 1.12
Loans (As % Of Deposits) % 54.3 47.5 51.8
Growth Rates 2015 2016 2017
Total Revenue Growth % 14.7 -12.4 5.56
Operating Cost Growth % 2.43 -3.72 20.2
Operating Profit Growth % -796 -96.7 -4,157
Net Profit Growth % -346 -77.5 187
Customer Loan Growth % -18.8 -18.9 34.9
Total Asset Growth % -2.13 -7.72 24.1
Customer Deposit Growth % -0.962 -7.25 23.8
Shareholders' Equity Growth % -233 0.872 56.5

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summary Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                      
Net Interest Income BGN mil         14.8 15.0 10.1 9.37 9.82    
Total Revenues BGN mil         24.3 24.1 17.3 17.9 20.5    
Operating Profit BGN mil         5.36 6.58 -0.473 -0.274 1.91    
Net Profit BGN mil         4.83 5.94 -0.315 1.42 -3.51    
balance sheet                      
Customer Loans BGN mil         264 339 419 389 316    
Debt Securities BGN mil         353 226 144 158 136    
Total Assets BGN mil         643 884 612 599 586    
Shareholders' Equity BGN mil         5.27 6.38 1.04 1.81 -2.41    
Interbank Borrowing BGN mil         0 0 0 0 3.05    
Customer Deposits BGN mil         408 612 602 587 582    
Issued Debt Securities BGN mil         217 242 0.032 0.162 3.05    
ratios                      
ROE %         78.7 102 -8.50 99.8 1,177    
ROA %         0.834 0.778 -0.042 0.235 -0.592    
Costs (As % Of Assets) %         3.27 2.29 2.38 3.00 3.14    
Costs (As % Of Income) %         78.0 72.7 103 102 90.7    
Net Interest Margin %         2.55 1.96 1.35 1.55 1.66    
Interest Income (As % Of Revenues) %         60.7 62.1 58.3 52.5 48.0    
Fee Income (As % Of Revenues) %         13.3 16.4 23.7 17.4 18.1    
Equity (As % Of Assets) %         0.820 0.722 0.170 0.303 -0.411    
Loans (As % Of Deposits) %         64.8 55.4 69.6 66.2 54.3    
Loans (As % Assets) %         41.1 38.4 68.5 65.0 53.9    
income statement Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                      
Interest Income BGN mil         17.3 16.0 10.3 9.54 9.92    
Interest Cost BGN mil         2.52 1.09 0.173 0.170 0.095    
Net Interest Income BGN mil         14.8 15.0 10.1 9.37 9.82    
Net Fee Income BGN mil         3.23 3.95 4.11 3.11 3.71    
Other Income BGN mil         6.33 5.18 3.13 5.38 6.95    
Total Revenues BGN mil         24.3 24.1 17.3 17.9 20.5    
Depreciation BGN mil         0.642 0.657 0.535 0.433 0.367    
Operating Cost BGN mil         19.0 17.5 17.8 18.1 18.6    
Operating Profit BGN mil         5.36 6.58 -0.473 -0.274 1.91    
Provisions BGN mil         0.004 0.003 -0.139 -0.224 5.42    
Extra and Other Cost BGN mil         -0.014 -0.018 -0.019 -0.016 -0.010    
Pre-Tax Profit BGN mil         5.37 6.60 -0.315 -0.034 -3.51    
Tax BGN mil         0.536 0.660 0 -0.004 0    
Minorities BGN mil         0 0 0 0 0    
Net Profit BGN mil         4.83 5.94 -0.315 1.42 -3.51    
growth rates                      
Net Interest Income Growth % ...       31.7 1.29 -32.5 -7.17 4.80    
Net Fee Income Growth % ...       16.7 22.5 3.90 -24.3 19.2    
Total Revenue Growth % ...       -1.84 -0.933 -28.1 3.03 14.7    
Operating Cost Growth % ...       10.3 -7.67 1.68 1.84 2.43    
Operating Profit Growth % ...       -29.4 22.9 -107 -42.1 -796    
Pre-Tax Profit Growth % ...       -26.5 23.0 -105 -89.2 10,218    
Net Profit Growth % ...       -26.4 23.0 -105 -552 -346    
market share                      
Market Share in Revenues %         0.619 0.631 0.468 0.458 0.496    
Market Share in Net Profit %         1.02 1.13 ... 0.200 ... ... ...
balance sheet Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                      
Cash BGN mil         21.5 315 44.8 47.0 129    
Customer Loans BGN mil         264 339 419 389 316    
Debt Securities BGN mil         353 226 144 158 136    
Fixed Assets BGN mil         1.72 1.27 0.805 0.753 0.956    
Total Assets BGN mil         643 884 612 599 586    
Shareholders' Equity BGN mil         5.27 6.38 1.04 1.81 -2.41    
Of Which Minority Interest BGN mil         0 0 0 0 0    
Liabilities BGN mil         637 877 611 597 588    
Interbank Borrowing BGN mil         0 0 0 0 3.05    
Customer Deposits BGN mil         408 612 602 587 582    
Issued Debt Securities BGN mil         217 242 0.032 0.162 3.05    
Other Liabilities BGN mil         0 0 0 0 0    
growth rates                      
Customer Loan Growth % ...       26.8 28.4 23.5 -7.23 -18.8    
Total Asset Growth % ...       24.5 37.5 -30.7 -2.20 -2.13    
Shareholders' Equity Growth % ...       -24.8 21.1 -83.7 74.3 -233    
Customer Deposit Growth % ...       16.9 50.2 -1.66 -2.47 -0.962    
market share                      
Market Share in Customer Loans %         0.488 0.610 0.751 0.755 0.623    
Market Share in Total Assets %         1.07 1.37 0.878 0.853 0.769    
Market Share in Customer Deposits %         0.763 1.06 0.958 0.915 0.870    
ratios Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                      
ROE %         78.7 102 -8.50 99.8 1,177    
ROA %         0.834 0.778 -0.042 0.235 -0.592    
Costs (As % Of Assets) %         3.27 2.29 2.38 3.00 3.14    
Costs (As % Of Income) %         78.0 72.7 103 102 90.7    
Net Interest Margin %         2.55 1.96 1.35 1.55 1.66    
Interest Spread % ...       2.54 1.96 1.35 1.55 1.66    
Asset Yield %         2.98 2.10 1.37 1.58 1.68    
Cost Of Liabilities % ...       0.440 0.143 0.023 0.028 0.016    
Interest Income (As % Of Revenues) %         60.7 62.1 58.3 52.5 48.0    
Fee Income (As % Of Revenues) %         13.3 16.4 23.7 17.4 18.1    
Other Income (As % Of Revenues) %         26.0 21.5 18.0 30.1 33.9    
Equity (As % Of Assets) %         0.820 0.722 0.170 0.303 -0.411    
Loans (As % Of Deposits) %         64.8 55.4 69.6 66.2 54.3    
Loans (As % Assets) %         41.1 38.4 68.5 65.0 53.9    
Cost of Provisions (As % Of Loans) %         0.002 < 0.001 -0.037 -0.055 1.54    

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ING's customer loans rose 34.9% to BGN 346 mil in 2017

By Helgi Analytics - September 3, 2018

ING Bank Bulgaria's customer loans reached BGN 346 mil in 2017, up 34.9% compared to the previous year. Bulgarian banking sector provided customer loans of BGN 59.7 bil in 2017, up 6.73% when compared to the last year. ING Bank Bulgaria accounted for 0.58...

ING's net interest margin fell 24.7% to 1.12% in 2017

By Helgi Analytics - September 3, 2018

ING Bank Bulgaria's net interest margin amounted to 1.12% in 2017, down from 1.49% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 6.81% in 2009 and an all time low of 1.12% in 2017. The average ma...

ING's net interest income fell 19.0% to BGN 6.81 mil in 2017

By Helgi Analytics - September 3, 2018

ING Bank Bulgaria generated total banking revenues of BGN 18.9 mil in 2017, up 5.56% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of BGN 35.9 mil in 2009 and ...

ING's customer loan growth rose 285% to 34.9% in 2017

By Helgi Analytics - September 3, 2018

ING Bank Bulgaria's customer loan growth reached 34.9% in 2017, up from -18.9% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 34.9% in 2017 and an all time low of -33.8% in 2010. In the last decade, the av...

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Finance

ING Bank Bulgaria has been growing its revenues and asset by 1.98% and 3.89% a year on average in the last 3 years. Its loans and deposits have grown by -3.83% and 4.37% a year during that time and loans to deposits ratio reached 51.8% at the end of 2017. The company achieved an average return on equity of 427% in the last three years with net profit growing % a year on average. In terms of operating efficiency, its cost to income ratio reached 113% in 2017, compared to 101% average in the last three years.

Equity represented -0.567% of total assets or of loans at the end of 2017. ING Bank Bulgaria's non-performing loans were of total loans while provisions covered some of NPLs at the end of 2017.