About report

ING Bank Śląski S.A. Group has compiled the annual report in line with the best global practices of integrated reporting. To help readers use the interactive tools, we prepared a user guide with key features. We encourage you to watch a short animated video before reading the report.

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Integrated Annual Report
of ING Bank Śląski S.A. 2019

What makes us stand out

  • [103-1]
    Explanation of the material topic and its Boundary
  • [103-2]
    The management approach and its components
  • [103-3]
    Evaluation of the management approach
  • [201-1]
    Ratios of standard entry level wage by gender compared to local minimum wage

The harmonious development of our core activity, i.e. retail and corporate banking, enables us to increase our balance sheet in a consistent and profitable manner and consolidate our market position in the Polish banking sector. The primary source of our growth is the gradual increase in number of clients for whom we are the primary bank. We develop our relations with them, and we want to be a relevant partner to them. We try not only to meet our client’s expectations, but also to be a step ahead of them.

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In 2019, invariably and consistently as for over 13 years now, we considerably increased our lending and deposit portfolios. At the same time, we managed to maintain the good quality assets and sustain solid capital and liquidity positions.

In 2019, we kept the high growth rate for clients. Throughout the year, the Bank’s client base went down by 357 thousand versus increase of 270 thousand the year before. The decrease in the net number of clients was due to regulatory obligations and verification of the client portfolio in terms of acquisition potential. The acquisition of new clients remained very high – in 2019 we acquired 474 thousand new retail clients (429 thousand in 2018) and 13 thousand corporate clients (12 thousand in 2018).

As at the end of December 2019, the number of clients was 4.50 million and it was broken down into the following business segments:

  • 43 million retail clients, including:
    • 05 million individual clients (down by 372 thousand clients throughout the year),
    • 383 thousand entrepreneurs (up by 8 thousand throughout the year),
  • 72 thousand corporate clients, including:
    • 69 thousand SME/MC (up by 8 thousand throughout the year),
    • 4 groups (down by 0.1 thousand clients throughout the year)

The growth of our client base is better described by the number of primary customers, i.e. those for whom we are the first choice bank and who hold several (specific) products. As at 2019 yearend, we had 1.97 million such clients in total, i.e. 139 thousand more than as at 2018 yearend, including:

  • 94 million retail clients (up by 135 thousand clients throughout the year), and
  • 32 thousand corporate clients (excluding strategic clients; up by 4 thousand throughout the year).

The constantly growing number of clients is the result of the activities pursued by us to foster long-term relationships with clients. These relationships are based on the trusted brand, transparent and flexible product offer and a continuously developed modern distribution and customer service system.

In 2019, the growth rate of the credit balance remained high and was 13.0% y/y. At the same time, the volume of loans in the Polish banking sector rose by 5.2% y/y. We recorded a higher than the sector increase in both the retail and corporate segments. The volume of retail loans at our Bank went up by 21.3% y/y. The volume of corporate loans went up 7.4% y/y.

 Change currency: PLNEURUSD
Credit volumes gross* (PLN billion)
Credit volumes gross* (EUR billions)
Credit volumes gross (USD billions)

*Without Eurobonds.


Our past accomplishments prove our persistence in supporting the development of the Polish economy. Since 2008, our credit balance has been uninterruptedly above the sector average. Over 2008-2019, we grew 2.3 times faster in retail loans and 2.1 faster in corporate loans than the market.

The faster growth rate of loans over deposits caused the LTD ratio go up from 87.6% as at 2018 yearend to 90.7% as at 2019 yearend (throughout 2019 it was even up to 92.0% in Q3). This was the sixth consecutive year in which we recorded that ratio increase, while for the sector this ratio has been falling down uninterruptedly since 2011. Despite opposite trends, for our Bank, the ratio in question proves to be very safe and now is close to the sector average.


LTD ratio*

*NBP data-based estimates.

More and more of our clients treat ING Bank Śląski S.A. as their main bank for everyday banking. Thanks to this, the balance of deposits accumulated in current and savings accounts shows constant and stable growth. They are a key element of financing the Bank's operations. As at 2019 yearend, current and savings accounts represented 97.1% of retail segment deposits and 96.2% of corporate segment deposits. The average for the sector is 66.6% for household deposits and 72.3% for institutional clients.

The share of current and savings accounts in the deposits structure*

*NBP data-based estimates.

Market position consolidation

As at 2019 yearend, we ranked fifth in the market, with an approximately 7.6% share in terms of assets.

In 2019, we raised our market shares in retail and corporate loans to the record-high levels up to 7.17% and 11.52%, respectively. Excluding FX mortgage loans from the retail loan portfolio, the market share as at 2019 yearend arrived at 8.36% versus 7.52% as at 2019 yearend.

In the client deposit area, our market share in the corporate segment went up to 8.84%, while in the retail segment it hovered around 9.50%.

*NBP data on monetary financial institutions (Monrep; WEBIS).

*NBP data on monetary financial institutions (Monrep; WEBIS).

*NBP data on monetary financial institutions (Monrep; WEBIS).

*NBP data on monetary financial institutions (Monrep; WEBIS).

High quality of assets

The high growth rate of the receivables from customers does not impair the portfolio quality. Share of loans in stage 3 is clearly lower than the sector average. As at 2019 yearend, the share of loans in stage 3 was 3.0% versus 5.9% for the sector. It is also visible in segment data. As at 2019 yearend, the share of loans in stage 3 for the corporate banking segment was 4.1% versus 6.6% in the sector, and for the retail banking segment 1.7% and 5.5%, respectively.


Share of impaired loans / loans in stage 3 at ING Bank Śląski S.A. Group against sector average*

High profitability and efficiency

In 2019, our return on equity (ROE) settled at 11.6%, or down by 0.8 p.p. from 2018 and thus remained markedly above the sector average. In the same period, the return on equity in the sector improved to 7.1% from 6.4% in the previous year. Adjusting the denominator for calculating ROE (i.e. value equity) by the value of the Macro Cash Flow Hedge provision, our adjusted ROE was 12.8% in 2019 (similar to 2018). The capital adjustment by this element better reflects the profitability generated by the bank, since the revaluation reserve is the result of the bank’s hedge accounting policy. Additionally, it is worth noting that the value of the revaluation reserve does not constitute own funds to the extent that it meets the capital requirements.

We continue to work on our cost effectiveness. It enabled the Bank to improve its C/I ratio by 1.4 p.p. vis-à-vis 2018 to 43.1% in 2019. The figure is lower (better) than the average in the sector (51.4%; our estimates based oin PFSA data). It has been a significant improvement over the last seven years – in 2013 the sector’s C/I ratio was lower (better) than the Bank's (53.3% and 56.1%, respectively).

*PFSA data-based estimates.

*PFSA data-based estimates.

*PFSA data-based estimates.

*PFSA data-based estimates.

Attractive banking direct channels

We offer our clients modern bespoke products and services. We offer access to intuitive online and mobile banking. In 2019, over 99% of client transfers were made in direct channels (online). In 2019, 78% of cash loans for individual clients and entrepreneurs were sold online.

We offer our clients modern payment solutions, e.g. BLIK. In 2019, they made nearly 23.1 million transactions online with the use of that payment system – or two times more than the year before. We were the first bank in Poland to enable our clients to view their accounts with other banks – more about this can be found in Customer experience chapter.

In mobile banking, mobile banking is becoming increasingly popular – at the 2019 yearend, 26.6 thousand of them used it or 28.0% more than the year before.  We maintain high interest of our corporate clients in submitting credit applications online – in this way, in 2019, we received 95% of credit applications (94% in 2018).

Awards and distinctions

Our daily efforts in offering attractive products to our clients, attention to high service quality, sustainability actions and practices as well as outstanding commercial and financial results are honoured by the market. Below please find selected 2019 awards. The full list is available at website.

For overall performance

The main prize and the title of the Banking Star granted for the overall performance in 2018 in the ranking compiled by the Dziennik Gazeta Prawna daily and PwC.

The Best Bank in Poland in 2018 title awarded by the Euromoney financial magazine in the competition Awards for Excellence.

For the attractive offering and customer service quality

  • The main award and the title of the World’s Best Online Banking System for ING Business awarded by the Global Finance magazine in the Best Digital Banks competition.
  • My ING and ING Business awarded for the best online banking for small and medium enterprises in Central and Eastern Europe by SME Banking Club.
  • The Bank Gospodarstwa Krajowego award was granted to our Bank for the largest share in the distribution of EU funds from the Smart Growth Operational Programme.
  • imoje, the first and only online payments for e-stores in Poland provided by the Bank, appreciated in the Fintech 2019 Project category by Cashless.pl and awarded with the Wallet of the Year for the best non-cash payment platform by the Wprost weekly.
  • Our Bank was appreciated for its activity and involvement in the Cashless Poland Programme.
  • 2019 Service Quality Star in Banks category in the twelfth edition of the Polish Service Quality Programme.
  • Our Bank was also among the winners of the 2018 Institution of the Year in the following categories: The Best Service Quality in the Facility, The Best Service Quality in Direct Channels, Best Service Quality for Business Customers, Best Service for Companies in a Chat Channel, Best Bank in Financing Companies, Best Bank in Financing Leasing in the ranking carried out by the portal mojebankowanie.pl.
  • The title of the Bank Appreciated by Clients granted on the basis of surveys made by ARC Rynek i Opinia: Bank Retail Clients’ Satisfaction Monitor.
  • ING as the best bank in building positive customer experience – awarded on the basis of the results of a survey conducted by Kantar Polska.

For CSR actions and practices

  • ING Bank Śląski was appreciated by UN Global Compact Network Poland, for its contribution to the promotion and implementation of assumptions underlying the “Agenda for Sustainable Development – 2030” and implementation of ONZ Objectives.
  • The Most Friendly Bank title for CSR activities in 2018 awarded in the competition Leaders of Banking and Insurance World.
  • Silver CSR Leaf awarded to ING Bank Śląski S.A. by the POLITYKA weekly.
  • Distinctions for two ING’s initiatives in Ranking 30×30 coordinated by the Responsible Business Forum.

For communication with clients, market and employees

  • The Best of the Best Award for model financial reporting in The Best Annual Report 2018 competition organised by the Accounting and Tax Institute.
  • Our Bank was distinguished with a certificate of plain Polish by experts from the Centre for Plain Polish at the University of Wroclaw for ing.pl website.
  • 11 awards, including 10 golden ones in the Power of Content Marketing Awards 2019 organized by the Content Marketing Polska Association.

For marketing actions

  • Two statuettes for the most successful advertising campaigns in the following categories: Finance (silver) and Business-to-Business (bronze) in the Effie Awards competition.
  • Our Bank was recognized as the best bank in social media in the Golden Banker ranking.
  • Silver statuette in the Search Advertising category in the international Mixx Awards Europe 2019 competition for the educational video series “Straightforward about money”.

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