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“We Project the Other Side of Banking”

In Focus
NAME:Mihaela Bitu
COMPANY:ING Bank Romania
LOCATION:Bucharest, Romania
With its distinct business model and early adoption of tech, ING Bank Romania has shaken up the banking market. The challenge now, says CEO Mihaela Bitu, is maintaining its hard-won differentiation.

Since its establishment in 1994, ING Bank Romania has always been a bit different. “Let’s put it this way,” CEO Mihaela Bitu says. “Maybe we come across as the most non-bank of the Romanian banks.” 

The company, part of the global ING Group, has introduced several firsts to the country’s banking sector. In 2018, for example, it took the bold step of completely moving away from human-assisted counters in its corporate sales network, whereas its retail network has offered only digital and machine-assisted operations since the launch of service to the retail segment in 2004.

“There were risks involved, but with the customer base that we have, we believed in it, and we had the courage to take that step,” Mihaela explains. “We have never regretted it, and we have not seen clients leaving us because of this.”

ING Bank Romania is also the only bank to have reached the top 10 in the market with organic growth alone – something that has helped preserve a unique and bold corporate culture. 

“Maybe we come across as the most non-bank of the Romanian banks.”

“From the very beginning, we came up with a lot of new things,” Mihaela shares. “We’ve always used technology. We’ve always used innovation in the customer experience. They are small revolutions.”

The company also has a distinctive business model: its retail network is made up not of its own employees, but of individual business partners investing in their own business, while abiding by the bank’s policies and procedures in their activities.

This drive to go against the grain is reflected in the quirky and irreverent way the bank communicates with its customers. Drawing on ING’s global marketing strategy, ING Romania’s ad campaigns choose a lighthearted, oddball approach where many other financial institutions opt for a serious tone.  


“I think the tone of our communication has been very different,” Mihaela reveals. “This image is actually not a fake image. It’s very much in line with how we are as an organisation, but it projects the image of a fresh organisation that breaks the barriers of the traditional kind of banking, which was perhaps perceived as a bit stiff and a bit old-school. We project the other side of banking, which is modern, fresh, dynamic and innovative.”

Staying different 

Staying ahead of the curve, though, is becoming more of a challenge as ING’s competitors begin to innovate both digitally and in terms of customer experience. “The challenge for us going forward is to keep this differentiation,” Mihaela points out. “Of course, that’s not easy; we now have even the non-banks competing with us – we have fintechs.”

“Our colleagues and the power of the team is clearly a differentiator.”

As the company faces this challenge, its strongest assets will be its people and its company culture. “Our colleagues and the power of the team is clearly a differentiator,” she says.

In her 26 years at the company, Mihaela has witnessed that culture evolve out of a small team of a few dozen people, which has now grown to more than 2,300 people. 

One of the things that has endured in that time is a genuine interest in the client and their happiness and wellbeing, which Mihaela says in turn produces happy employees. “I’m a strong believer in the importance of having happy clients and happy employees, because only in such an environment can you actually deliver high performance,” she explains. 

“In Romania, not every organisation is necessarily meritocratic by default. But ING has always been a meritocracy.”

Another constant has been a dedication to properly recognising and rewarding employees’ abilities. “In Romania, not every organisation is necessarily meritocratic by default,” Mihaela reveals. “But ING has always been a meritocracy. It’s been a company that has offered equal opportunities to people and has always promoted the best.” 

That, along with a young, dynamic team and a friendly and flexible work environment, is what has helped the company gain recognition as one of the top employers in Romania. “We have very clear values that are actually living values. They are not just slogans. We have principles that guide our activity all the time,” she says. 

As someone who has been with the firm for more than a quarter of a century, ING Bank Romania’s growth and development are close to Mihaela’s heart, and she believes the best is yet to come. “ING Romania is clearly a success story in this market, and there are many opportunities ahead of us.” 

“For Cegeka Romania, the collaboration with ING came naturally and efficiently. This business compatibility was because we share common company values. ING’s focus on technology and people helps us build an ideal partnership. Currently, ING is one of the strategic clients of which we are proud.” – Stijn Bijnens, CEO, Cegeka Romania
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