How does ING Group operate in Poland

ING Bank Śląski S.A. is a parent entity of the ING Bank Śląski S.A. Group. As a Group, for 30 business years, we have managed to establish our position among the top financial institutions in Poland. We are number four as far as the balance sheet total is concerned (over PLN 158.6 billion as at 2020 yearend) and in terms of the commercial balance (the total of deposits and loans).

We form the Group together with the subsidiaries, where we operate in the area of:

financial advisory and intermediary services
payroll and accounting services

The Bank is the founder of the ING for Children Foundation. The bank and the companies belonging to the group are also founders of the ING Polish Art Foundation. 

In 2020, the Bank and its subsidiaries did not conclude any transactions with related entities that would be individually or jointly significant and concluded other than on the arm’s length basis. 

ING Bank Śląski performs operations with ING Bank NV and its subsidiaries on the inter-bank market. These are both short-term deposits and loans, as well as operations in derivatives. The bank also maintains bank accounts of entities from the ING Group. All of the above transactions are carried out on an arm’s length basis.  

Operating costs incurred by the Bank for the parent entity result primarily from contracts for the provision of consultancy and advisory services, data processing and analysis, provision of software licenses and IT support. In terms of costs incurred by the Bank for other related entities, outsourcing agreements play a dominant role regarding the provision of system resource hosting services for various applications, leasing of IT equipment, monitoring the availability and performance of applications and IT infrastructure as well as penetration testing and IT security monitoring. You can read more about transactions with related entities in the “Related entities” note in the Annual Consolidated Financial Statements of the ING Bank Śląski S.A. Group for 2020. 

Changes to Group structure

In Q2 2020, the shares in Twisto Polska Sp. z o.o. were reclassified from an associated entity to a minority capital investment.  

ING Bank Śląski S.A. Group composition

The Bank, through ING Investment Holding (Polska) SA, holds 45% of shares in NN Investment Partners TFI S.A. and treats this company as an associated company. Subsidiaries are consolidated by our bank using the full method, and the associated company (NN Investment Partners TFI SA) is consolidated using the equity method. 

In addition to its subsidiaries and associates, the Bank has minority capital investments, including in the following companies:  

  • Biuro Informacji Kredytowej S.A. (9.0% of shares), 
  • Krajowa Izba Rozliczeniowa S.A. (5.7% of shares), 
  • Polski Standard Płatności Sp. z o.o. (14.3% of shares), 
  • Twisto Polska Sp. z o.o. (19.4% of shares), 
  • Vooom Sp. z o.o. (8.1%; through ING Investment Holding (Polska)). 

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