ING Direct superannuation FUM up 78% to $1.1b

ING DIRECT Australia today announced a net profit after tax of $297 million for the 12 months to 31 December 2014, an increase of 9.4% on the previous year, with superannuation FUM reaching $1.1b, up 78% year on year.

ING DIRECT CEO, Vaughn Richtor says the bank has been delivering on its strategy of becoming the main bank for its customers by strongly growing payment accounts, personal savings, branded mortgages and superannuation funds under management.

“2014 was the year that we brought Living Super to advisers and this has definitely bolstered our growth. Customers have responded to Living Super’s key features of transparency, control and value, and we have had great feedback from advisers about its simplicity.”

Mr Richtor added: “As we further support advisers with full administration and management capabilities through our new Living Super portal, I am confident that our superannuation success will continue.”

2014 highlights include:

• Orange Everyday (payment account) customers up more than 40% to 270,000

• Personal savings up by $1.3b or 6.5%

• Total deposits up $1.16b or 3.7%

• Branded mortgages up $2.5b or 7.8%

• Total mortgages stable at $38.8b

• Superannuation funds under management up 78% to $1.1b

• Number 1 Net Promoter Score (customers willing to promoter the bank to friends

and family)

ING DIRECT has maintained its number 1 position on Net Promoter Score, that is the number of customers who are likely to recommend the bank to family and friends.

“We are finding that the more our customers use us as their main bank the more likely they are to recommend us to family and friends,” Mr Richtor said.