ING Bank Śląski has announced an agreement to acquire the remaining 55% stake in Goldman Sachs TFI from Goldman Sachs, giving it full ownership of the Polish asset management company. ING previously held a 45% stake in Goldman Sachs TFI through its subsidiary ING Investment Holding since 2019.
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, said: “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 various asset classes and provides dedicated asset management portfolios for more than 736,000 clients. The company holds about 12% market share by assets under management for capital market mutual funds in Poland, ranking second nationally. The assets under management involved in this transaction total PLN 48 billion.
The sale purchase agreement for the 55% stake is valued at PLN 396 million (about €93 million). The deal is expected to close in the first half of 2026 pending regulatory approval. Following completion, ING expects a reduction of approximately 34 basis points in ING Bank Śląski’s consolidated total capital ratio and Tier 1 ratio; however, there will be minimal impact on ING Group’s CET1 ratio.
ING Bank Śląski serves over five million retail and corporate clients through digital channels and branch networks across Poland. As of September 2025, customer deposits stood at PLN 230 billion with customer loans at PLN 177 billion, making it the third largest bank in Poland by these measures. It is majority-owned by ING Group (75%), with minority shareholders holding the remaining shares via its listing on the Warsaw Stock Exchange.