ING Bank Śląski aims to compete more strongly for investment-minded and affluent clients. The newly acquired Goldman Sachs TFI is expected to support this strategy and will operate under the ING TFI brand from 22 June. The fund management company manages assets worth approximately PLN 60 billion, serves nearly 800,000 clients and is Poland’s second-largest investment fund company. ING plans to increase the number of clients using its investment products to 1 million by 2035.
Since 2019, the bank had held a 45% stake in Goldman Sachs TFI through a subsidiary. In April this year, it finalised the acquisition of the remaining 55% stake for PLN 405 million, becoming the sole owner. As a result of the transaction, the company will operate under the ING TFI brand from 22 June, marking the Group’s return to the brand after a break of nearly 11 years.
“The acquisition of the fund management company by the ING Group in Poland significantly supports and complements the implementation of the long-term ‘In the Rhythm of Life’ strategy, announced in November last year, both in product and strategic terms,” Wojciech Sieńczyk, Vice-President of ING Bank Śląski, told Newseria.
ING’s strategy to 2035 includes strengthening the bank’s position in investment, pension and savings products. The Group aims to increase its total client base to more than 7.5 million and the number of clients using investment products to 1 million. The same target has been set for clients saving for retirement through ING.
“The strategy was built around the most important trends shaping the market — from demographic change and an ageing population, through evolving lifestyles and growing customer expectations, to rapid technological developments, including the artificial intelligence revolution. We see strong growth potential in the Polish economy. We expect the number of affluent Poles to nearly triple by 2030. The strategy takes into account the growth in private banking clients and an increase in our market share in capital investments. Combined with improvements in service quality and our offering, we see our private banking business becoming one of the leaders in Poland,” Wojciech Sieńczyk said during a conference.
The ING strategy includes achieving a market share of more than 12% in pension and investment products. Another target is to develop the private banking segment to 50,000 clients. The bank wants to become the first choice for affluent customers. According to ING estimates, the number of affluent Poles could nearly triple by 2030.
“The acquisition of ING TFI will support the product offering across every segment of the bank, including the offer for affluent clients and the private banking segment. Across all segments, the TFI product range will complement the bank’s comprehensive offering for affluent customers, including the broader offering of the ING Group worldwide,” the Vice-President of ING Bank Śląski says.
As he emphasises, the Group’s global structure is highly important in wealth management for affluent Polish clients, as it provides broad access to investment strategies allocating capital across foreign markets.
Sieńczyk notes that Goldman Sachs TFI has built a key position in Poland’s investment fund market. The value of investment fund assets increased from around PLN 14 billion at the end of 2018 to approximately PLN 60 billion today, while the number of clients rose from around 265,000 to more than 800,000, based on data at the end of March 2026.
Over the same period, the company’s market share increased from 8.5% to more than 12%, and the fund manager rose to second place in Poland’s investment fund market by assets under management.
“Moving from fifth place to second is a significant achievement,” says Wojciech Sieńczyk.
An important area of ING TFI’s business is pension products. The company manages PLN 16 billion in assets accumulated through Employee Capital Plans, Employee Pension Schemes, Individual Retirement Accounts and Individual Retirement Security Accounts. It holds second place in the market in terms of the number of Employee Pension Schemes managed and the value of assets in Individual Retirement Accounts and Individual Retirement Security Accounts.
Average participation in the Employee Capital Plans managed by the company stands at 84%, which, according to data cited by ING, is the highest result in the market. Plans for 2027 include the launch of currency funds, Personal Investment Accounts and an investment product aimed at younger customers.
“The entry of ING TFI into the ING Group in Poland strengthens the product offering for individual segments and significantly supports the implementation of our strategy, including the goal of changing our image into that of a group that helps clients invest, not only save,” the bank’s Vice-President concludes.
