ING Bank Śląski has agreed to acquire the remaining 55% stake in Goldman Sachs TFI, making it the sole owner of the Polish asset management company. The bank previously held a 45% share and will now own 100% following this transaction.
Michał Bolesławski, CEO of ING Bank Śląski, stated: “As we observe both the growing affluence of Polish customers and important demographic shifts, we see that customers are more often looking for alternatives to traditional saving products. We want to meet their needs in a simple, digital and safe way. We are placing increasing emphasis on Private Banking and investment solutions. Taking over full control of Goldman Sachs TFI further reinforces our position in the investment and retirement markets. Under the ING brand, we want to offer clients a comprehensive range of solutions – from deposits to investment products”.
Pinar Abay, global head of Retail Banking and member of ING Group’s Management Board Banking, commented: “This transaction underscores our ambition to accelerate growth, increase impact and deliver value. Within our Growing the Difference strategy, we take this opportunity to improve our product offering in this important market and further diversify our income.”
Goldman Sachs TFI manages open mutual funds across different asset classes as well as dedicated portfolios for over 736,000 clients. It holds about a 12% share of Poland’s capital market mutual funds sector by assets under management—making it second largest in the country—with PLN 48 billion managed under this deal.
ING Bank Śląski has owned its current stake since 2019 through its subsidiary ING Investment Holding. Goldman Sachs Asset Management became majority shareholder after acquiring NN Investment Partners in 2022. The agreement values the additional stake at PLN 396 million (around €93 million). The acquisition is expected to reduce ING Bank Śląski’s consolidated total capital ratio and Tier 1 ratio by roughly 34 basis points but will have minimal effect on ING Group’s CET1 ratio. The deal is anticipated to close in the first half of 2026 pending regulatory approval.
ING Bank Śląski serves more than five million retail and corporate clients through digital channels and branches across Poland. As of September 2025, customer deposits stood at PLN 230 billion with loans at PLN 177 billion, ranking it third among Polish banks by these measures. ING Group owns a majority stake (75%) in ING Bank Śląski; minority shareholders hold the remaining shares via listing on the Warsaw Stock Exchange.
