Assets under management of ING Retail SR grew in 2008 by 14 % and reached 39.7 billion SK

04.03.2009

In the year 2008, affected by repercussions of the financial crisis, ING SR saw growth in the retail segment (life insurance, pension savings products, investment funds, saving accounts) in most of the indicators. The net profit of the company reached 102 million Sk which was decrease of 64% compared to previous year..
Technical insurance indicators like assets under management that measure fundamental activities of any company saw a stable and continuous growth.In comparison with 2007 assets under management grew by 4.906 billion Sk, interannually the number of clients grew by 39 750.

Total results of the retail part of ING SR (according to IFRS):

	2007	2008	Interannual change
Assets under management	34.805 billion Sk	39.711 billion Sk	14 %
Number of clients	614 665	654 415	6.5 %
Net profit	284 million Sk	102 million Sk	- 64 %

“Our goal is to be long-term partners of our clients,” says Alexis George, CEO o ING Retail ČR/SR. ”While 2008 was a difficult year I am proud that we managed to grow our business adding 40.000 customers. Of course profit result is disappointing but we are here for the long term and we have seen an improvement in the value of our organization.”

ING Životná Poisťovňa

Results of ING Životná Poisťovňa

	2007	2008	Interannual change
Premium written	2.672 billion Sk	3.547 billion Sk	32 %
Assets under management	10.909 billion Sk	10.705 billion Sk	- 1.9 %
Number of policies	187 924	197 748	5 %
Total assets	12.111 billion Sk	11.985 billion Sk	- 1 %

Premium written rose by 33 percent to 3.547 billion Sk, and despite aforementioned negative external influences the value of assets under management fell only by two percent. The number of policies grew to 197 748 which means an interannual growth of 5 percent.
In 2008, ING Životná poisťovňa strengthened its position at the market and reached a fourth place at the life insurance market.

ING DSS, a.s.

Results of ING DSS, a.s.

	2007	2008	Interannual change
Assets under management	5.591 billion Sk	7.376 billion Sk	32 %
Number of clients	160 046	152 408	-4.8 %
Company’s assets	280 million Sk	218 million Sk	- 22 %

ING Tatry – Sympatia DDS

Results of ING Tatry – Sympatia DDS

	2007	2008	Interannual change
Assets under management	10.07 billion Sk	11.133 billion Sk	10.6 %
Number of clients	310 855	310 631	0%
Company’s assets	1.177 billion Sk	1.222 billion Sk	3.8 %

 

ING SR keeps its position of the market leader in pension savings. Assets under management of pension companies grew in total by 2.847 billion Sk. Totalassets under management of both companies fell interannually by 18 million Sk – one of the reasons for that is the drop in the number of contracts after opening of the second pension pillar.

ING DSS, a.s. has under its management assets worth 7.376 billion Sk, and they grew interannually by 1.785 billion Sk which amounts to 32 percent.
ING Tatry-Sympatia DDS is a supplementary pension company with the highest volume of assets under management and the highest number of clients at Slovakia. The quality of its services is reflected by the award Golden coin – 2^nd place for 2008. Interannual growth of assets by 1.062 billion Sk just as well as stable performance of funds prove that the company is in a good shape.

ING Funds and ING Konto

Results of ING Funds and ING Konto

	2007	2008	Interannual change
Assets under management (ING Konto)	5.893 billion Sk	9.578 billion Sk	62 %
Assets under management (ING Funds)	2.340 billion Sk	919 million Sk	- 60 %

 

Assets under management of ING Funds fell interannually by 60 percent. Those are ramificationsof the financial crisis that affected demand for such assets. We believe these opportunities will recover when confidence is restored.

ING Funds triumphed in the Golden coin awards: Golden coin in the category Global shares funds was awarded to ING (L) Invest Global High Dividend. In the category Shares funds Golden coin was awarded to ING International Višegrádsky akciový fond.

ING Konto saw a considerable growth of assets: by 60 percent. The product proved successful, assets under management amount to 9.578 billion Sk, while interannual growth amounted to 3.685 billion Sk.

The savings account currently offers interest rate 2% p.a. We suppose that clients’ interest in it this product with a guaranteed yield will further grow. Apart from its favourable interest rate ING Konto offers other advantages: clients can withdraw money anytime without a notice period and they have to pay bank charges, not even for opening the account.

 

Contact: Alexandra Gjurić, Press Spokesperson; tel.: 257 473 290; fax: 257 473 555; e-mail: komunikace@ing.cz