The ING Group real estate investment division, ING Real Estate, will open a branch in Romania, which will become operational at the end of the year, announced ING Bank Romania general director Misu Negritoiu (photo). "Taking into account the development of the Romanian market, we decided to open a branch of our real estate investment division, which has the largest portfolio in the world," Negritoiu shows. The company will be called ING Real Estate-Investment Management. ING Real Estate activates in 19 countries and manages properties worth over 70 billion dollars.
ING Bank Romania targets a 7-9 percent market share on the retail segment in the next three years, as well as expanding its branch network to 250 units.

"We will open at least 40 self bank units in the second part of the year and we plan to open another 70 locations in 2007. In addition, we expect an increase in portfolio by 200,000 clients per year," said the appointed Deputy Director Albert Roggemans.

ING currently holds 2-3 percent of the retail market and a 6.3 percent stake of the total bank assets in Romania. Among the bank's plans announced by Negritoiu is the setting up of a company specialized in factoring, ING Commercial Finance and transforming brokerage company ING Securities into a department of the bank.

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