ING's Aussie profit rose 10% in 2019

Dutch multinational ING says it boosted its Australian profit by nearly 10 per cent to $440 million in 2019 as it grew its local customer base.

The bank on Tuesday said it attracted 423,000 new Australian customers last year for a total 2.6 million, with a 30 per cent rise in the number of Australians treating ING as their main bank.

ING said its primary customers now total 833,000.

The bank said retail deposits grew 9.9 per cent to $37 billion in its 20th year of operating in Australia, with mortgages up 6.3 per cent to $52 billion, and business loans expanding by 9.2 per cent to $4.9 billion.

Personal loans surpassed $245 million.

"Savings and loans are the backbone of the business, but I have been particularly pleased with the growth of our consumer lending through personal loans and the Orange One credit card," ING Australia chief executive Uday Sareen said on Tuesday.

Aside from its headquarters in Sydney, ING has no ATM network or branches in Australia.

Austrlaian Associated PressBack to Breaking News

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