Poland’s ING Bank Slaski moves to full ownership of Goldman Sachs TFI

Anabelle Colaco
20 Nov 2025, 10:05 GMT+10

ING Bank Slaski is set to take complete control of Goldman Sachs TFI after agreeing to buy the portion of the Polish asset manager it does not already own
This marks a significant expansion of the bank’s presence in the country’s investment-fund market
The lender said it will acquire the remaining 55 percent stake in Goldman Sachs TFI from Goldman Sachs Asset Management International Holdings for 396 million zlotys (US$108 million)

KATOWICE, Poland: ING Bank Slaski is set to take complete control of Goldman Sachs TFI after agreeing to buy the portion of the Polish asset manager it does not already own, marking a significant expansion of the bank's presence in the country's investment-fund market.

The lender said it will acquire the remaining 55 percent stake in Goldman Sachs TFI from Goldman Sachs Asset Management International Holdings for 396 million zlotys (US$108 million). ING Bank Slaski, the Polish arm of ING Groep, already holds the other 45 percent through a subsidiary.

Goldman Sachs TFI manages open mutual funds across multiple asset classes and oversees dedicated asset-management portfolios. It serves more than 736,000 clients and is the second-largest player in Poland's capital-market mutual fund segment, with a market share of about 12 percent, ING said.

The bank noted that the final purchase price will be adjusted to include a dividend equivalent covering the period from January 1, 2026, to the month prior to the transaction's close.

ING Bank Slaski said it expects the acquisition to reduce its consolidated total capital ratio and Tier 1 ratio by around 34 basis points, reflecting the impact on key financial-strength measures.

The transaction is expected to close in the first half of 2026, pending regulatory approval.

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