Acquisition Details: ING Bank Śląski has acquired the remaining 55% stake in Goldman Sachs TFI, bringing its total ownership to 100%. The transaction is valued at PLN 396 million and is expected to complete in the first half of 2026, pending regulatory approvals.
Strategic Goals: The acquisition aims to enhance ING's position in the investment and retirement markets, responding to the growing demand for alternative saving products among Polish customers, as stated by CEO Michał Bolesławski.
Market Position: Goldman Sachs TFI, which serves over 736,000 clients and manages assets worth PLN 48 billion, holds a 12% market share in Poland's capital market mutual funds, making it the second-largest player in the market.
ING Bank Śląski Overview: As one of Poland's largest banks, ING Bank Śląski serves over five million clients and is part of ING Group, which holds a 75% stake in the bank. The bank emphasizes digital services and has significant customer deposits and loans.
ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company's segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease. The Company's Retail Banking business lines provide products and services to individuals, small and medium-sized enterprises (SMEs) and mid-corporates. ING's banking activities in Australia are undertaken by ING Bank (Australia) Limited (trading as ING Direct) and ING Bank NV Sydney Branch.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
