The entity clarifies that it does not agree to pay the temporary tax of 4.8% to the bank
ING bank ended 2022 with a net profit in Spain and Portugal of EUR 208 million, an increase of 14% compared to 2021. The result before tax amounted to EUR 303 million, also 14% higher. By business segment, retail banking profit before tax amounted to EUR 192 million, up 64%, while wholesale banking decreased by 26% to EUR 111 million.
Sales for the full year amounted to 883 million euros, an increase of 14%. By business segment, the savings and mortgages branch increased billing in the last two by 16%, while the wholesale banking segment increased by 9%. The diversified income business (consumer lending, investment and insurance) grew by 12%.
The financial entity has announced that it is not their responsibility to pay the extraordinary tax to banks that has been in effect since January 1: “By 2022, with how the tax is defined, ING will not have to pay because we are under it”, has said the CEO of the entity for Spain and Portugal, Ignacio Juliá.
In this sense, the executive reminded that the entity is part of the AEB, so it shares the same view as the employers, arguing that the “impact” will be negative for the economy and that it is not the “appropriate channel” .
Costs remained contained, with growth of 8% to a total of 444 million euros for the whole of last year.
The cost of risk fell by 2% to EUR 97 million. In this sense, the default rate for mortgages was 0.38%, while that for personal loans was 3.35%.
In 2022, the bank added 256,000 net customers, compared to 242,000 in 2021. ING ended the year with just over four million customers.
In terms of account type, some 180,000 customers went to the Salary Account, while another 60,000 joined the No Account, despite the fact that it was only available in the last four months of the year.
The entity has emphasized that 70% of these customers are “transactional” and that they have a 7% current account market share in the industry.
Likewise, it has highlighted that it recorded 838,000 digital sales last year, compared to 794,000 in 2021. Of these figures, the percentage of digital sales through mobile phones in 2022 was 68%, eight percentage points more than the year before.
In terms of products, ING issued 200,000 personal loans and 30,000 new mortgages in 2022. In addition, 87,000 insurance policies were taken out (nearly half a million in total).
For example, at the end of the year, the bank had just over 1,500 employees, after hiring 240 professionals.
Source: La Verdad
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
