Non-major lender ING Direct has announced a net profit after tax of $297m for 2014, a jump of 9.4% from 2013’s figures.
Parts of the company’s highlights last year were the increase in branded mortgages to $2.5bn or 7.8%, and the stability of total mortgages at $38.8bn.
Chief executive Vaughn Richtor said that the company has been focusing on its branded mortgages, as it cuts the significance of white label mortgages.
Richtor also said the sale of non-branded mortgages “comes with strong growth in retail mortgages while maintaining the overall size of our retail mortgage portfolio".
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