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ING Bank Śląski SAUPDATE: ING BSK lender plans to present new strategy in November
Listed lender ING BSK plans to present a detailed strategy for the next 3-4 years in November; it will be strategy based on continuity, although some changes are possible, the bank's new CEO Michal Boleslawski told a conference following the publication of ING's financial results for the first quarter of 2025. The CEO added that ING sees great opportunities in the development of the private banking segment.
"In the next 100 days, we will try to develop the foundations of a strategy that will be based on continuity. The strength of the bank is continuity and stability, we will keep up this trend, and of course, we will also adapt to new market conditions, to what is happening in the world," CEO Boleslawski said.
"During these 100 days, we will confirm whether we will change some things, but in general, we will confirm the directions in which the bank will move over the coming years," he added.
The CEO indicated that the new strategy should be ready within half a year.
"Then, in the next 100 days, we will come back to everyone already with a detailed strategy in which we will try to explain exactly what we are going to do, what we are going to build, what aspects we are going to develop faster than others, what we are going to put special focus on," Boleslawski said.
He reported that specific financial targets will be outlined in the new strategy.
The CEO added that ING plans to grow the private banking client division organically but may consider acquisitions in this area if opportunities arise in the market.
"We have established a new private banking division, and we have done so because we see opportunities related to this market segment," Boleslawski told the conference.
"We don't see ourselves as a market leader in this area, we would like to put an accent on it, we see opportunities related to succession, capital penetration between the private and corporate customer sectors, with the changes also in demographics that are taking place in Polish society," he added.
The bank's deputy CEO Bozena Graczyk said that the bank had reduced its sensitivity to interest rate cuts.
"We estimate our sensitivity to a 100 basis points interest rate cut in the first year at around PLN 130 million," Graczyk reported.
She also mentioned that the bank is now seeing increasing customer interest in loans.
ING Bank Slaski posted a PLN 1.014 billion (EUR 237.2 mln) attributable net profit in the first quarter of 2025, against the market expectations for a PLN 1.018 billion (EUR 238.1 mln) net take.
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