ING Bank Śląski has closed its purchase of the remaining 55 % of Goldman Sachs TFI, paying 396 million zlotys (about $108 million). The deal brings the Polish bank’s ownership of the asset‑management firm to 100 %, giving it full control of the company’s 48 billion PLN ($11.5 billion) of assets under management and a client base of 736,000 investors.
The acquisition expands ING’s investment and retirement business in Poland, where it already commands a strong retail presence. By adding Goldman Sachs TFI’s second‑largest market share in Polish mutual funds—roughly 12 %—ING will deepen its private‑banking and wealth‑management capabilities and reinforce its digital‑first strategy. The move aligns with ING’s “Growing the difference” strategy, which focuses on accelerating growth and diversifying income through digital solutions.
Capital‑ratio analysts note that the transaction will reduce ING Bank Śląski’s consolidated capital ratio and Tier 1 ratio by about 34 basis points, but the impact on the group’s CET1 ratio will be minimal. The modest hit reflects the size of the purchase relative to ING’s capital base and the fact that the acquisition adds a high‑quality, low‑risk asset‑management business to the bank’s portfolio.
The deal also positions ING as a dominant player in Poland’s mutual‑fund market. With 736,000 clients and a 12 % market share, Goldman Sachs TFI is the country’s second‑largest asset manager. The acquisition is expected to prompt competitors to reassess their strategies and could accelerate further consolidation in the sector.
CEO Michał Bolesławski said the transaction reflects the growing affluence of Polish customers and demographic shifts that increase demand for alternative savings products. He emphasized ING’s commitment to delivering simple, digital, and secure solutions, with a growing focus on private banking and investment offerings. Global head of retail banking at ING Group, Pinar Abay, added that the transaction underscores the bank’s ambition to accelerate growth, increase impact, and deliver value by improving its product offering and diversifying income.
The transaction is part of a broader trend of European banks consolidating to strengthen local market positions. ING Bank Śląski, the third‑largest bank in Poland with deposits of 230 billion PLN and loans of 177 billion PLN, will complete the deal in the first half of 2026, subject to regulatory approvals.
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