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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
M a n a g e m e n t B o a r d R e p o r t
o n O p e r a t i o n s o f t h e I N G B a n k Ś l ą s k i S . A . G r o u p
Covering the Report on Operations of ING Bank Śląski S.A.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Table of contents
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Introduction
2024 was characterized by geopolitical tensions, primarily the continuation of Russia's war in Ukraine and the war in the Middle East. The West maintained enormous military and financial support for Ukraine and tightened sanctions against Russia. In 2024, there was continued pressure in global supply chains, the scale of which was similar to that observed in 2023, but it was significantly lower than in the previous three years. In the second half of last year, uncertainty regarding trade and fiscal policy increased significantly, mainly due to expectations that new tariffs would be introduced by Donald Trump, who was elected as the new US president in November 2024.
The Management Board's report on the activities of the ING Bank Śląski Capital Group is our response to the expectations of our stakeholders regarding information about us, how we operate and what the effects are - also in such difficult circumstances as those mentioned above.
We start the report by presenting our Capital Group, indicating our place in the sector, identifying the trends we face and our response to them through our operating strategy and our value creation model. Then we move on to our actions towards customers and the community. In the following chapters, we present information about the environment in which we operate and the results we achieve. Corporate governance is a very important element for us, which is why we devote a significant part of the report to it. Then we present our approach to managing the security of the bank and our clients, describing capital management and individual types of risk (both financial and non-financial).
Since 2016, we have published our annual Report on the Management Board's activities based on the International <IR> Framework integrated reporting guidelines, updated in 2021, and the information contained therein regarding sustainable development issues was presented in accordance with the international reporting standards of the Global
Reporting Initiative - GRI Standards 2021. Adoption The CSRD Directive by the European Parliament, which replaces the NFRD Directive and was implemented into the Polish legal system by amending the Accounting Act, brought a significant change in our approach to reporting and the structure of our report. This year, for the first time, we prepared a Sustainability Statement in accordance with the guidelines of the Corporate Sustainability Reporting Directive (CSRD), as a separate section of our Report on the Management Board's activities, and based on the European Sustainability Reporting Standards accompanying the Directive - ESRS . At the same time, we tried to maintain the integrated nature of our entire report, which reflects our approach to managing the organization. The company auditing the financial statements for 2024 was Forvis Mazars Audyt Spółka z ograniczoną odpowiedzialnością.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Letter from the President
Dear Sirs / Madams,
I have the pleasure to present you the annual report of ING Bank Śląski S.A. Group for 2024. I do believe that our financial results and commercial results showcase that the bank and the entire group head in the right direction. Clients’ needs, high quality service, innovative products and services and sustainable growth have invariably been the key areas of our attention that we have consistently developed. With such an approach, we have gradually strengthened our competitive edge.
Looking ahead, we are optimistic and are waiting for a stronger economic rebound and higher competitiveness of the Polish economy. Last year, we continued the implementation of long-term projects that were of importance for the bank’s growth. It was yet another year of moving away from traditional banking towards self-service.
In line with its long-term strategy, at the end of December 2024, ING Bank Śląski saw an increase in core commercial figures – the client number and the value of loans and deposits. Consolidated net profit of the bank totalled PLN 4.4 billion, which is close to the result generated a year ago. Last year, we continued our long-term strategy to increase the client number and the transaction level. We noted an increase in the core balance-sheet values – the loans and deposits. The growth rate of the corporate loan portfolio reflected the economic situation – it was yet another year of waiting for an uptick in investment projects level. We consistently increased the digitalisation level. Last year, the number of mobile only clients in retail banking grew by 15 percent and reached 2.3 million. In the fourth quarter, the number of electronic outgoing transfers made by individual clients in Moje ING totalled 168 million (+8 percent y/y).
We adapt our products and services to the world our clients live in and make them accessible online, mobile
and on a remote basis. While designing the solutions, we focus on efforts to make them intuitive, functional and accessible via digital channels. In 2024, we presented, among other things, a new comprehensive offer for the youngest kids under 13, including access to Moje ING for children aged 6 and older.
We attach great importance to cybersecurity and fraud prevention – from awareness- and educational campaigns to campaigns aimed at changing our processes and procedures to solutions such as verification of phone calls from
ING where clients can check during phone call that it is actually a bank employee on the phone. That way they can get assurance that they are talking to the right person and exclude fraud.
Sustainable growth is also a major element of the long-term strategy of our bank. As a financial institution, we have an influence on many economic processes and individual choices. We feel responsible and we want to make our decisions to improve the competitiveness of the Polish economy while preserving the environment and society at large. That is why we continue our efforts to reduce the emission of greenhouse gases by integrating them with the bank’s overall strategy and sustainability priorities. We expanded our approach by adding an inter-sectoral transformation plan to support clients as they transition to more sustainable business models and dialogue with companies that operate in the most emission-intensive economy sectors and the bank portfolio.
2024 saw the 10th anniversary of the “Plain Language” project at the bank to simplify and improve communication with the clients. Today, it is no longer a single initiative, it is how the bank operates. We keep evolving as an organisation. Our language also evolves – the one we use internally and externally. That coherence and consistency are of enormous importance. Without simple yet precise communication, it would be harder for us to serve our clients.
Our business- and financial results show that ING Bank Śląski S.A. Group is heading in the right direction. We wish to build long-term relationships with our clients. We wish to be a part of their daily lives, support them in their day-to- day activities and, whenever possible, as they make life-changing decisions.
We still intend to stand out from the crowd when it comes to service quality and the modernity of our solutions, such as mobile banking. We want to support our clients in their business and provide them with tools and solutions that make running a business easier for them.
This report is particularly special for me because it marks the end of my career as the CEO of the Management Board. I wish to thank all colleagues from the Orange Team for their joint efforts, their engagement and daily work. I wish you all that the years to come are full of inspiring challenges, creative success and constant satisfaction with your mission.
I encourage you to read the report and review a detailed description of our operations.
Yours faithfully,
Brunon Bartkiewicz, President of Management Board
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Summary 2024
Environment
Society
Corporate governance
-10.7%
27.5%
79%
6,000
50%
31%
CO 2 e emissions reduction in scope 3 (category 13 and 15 combined) relative to 2022
Coverage of loan portfolio by local decarbonization targets and priorities as % of total assets
Employee engagement rate in OHI survey
People in the Orange Team at the “Run Warsaw” and “I’m Marching and Cheering” events.
Participation of women in the Bank Management Board
Ratio of the difference between the average pay of men and women to the average pay of men according to the EBA methodology
(unadjusted)
We are consistently implementing emissions reduction activities in our own economy and loan portfolio in line with the document “ ING BSK’s Roadmap for
Reducing GHG Emissions ”. At the same time, in December 2024, we published
the document “ ING BSK’s Roadmap for Reducing GHG Emissions. Part 2 ”,
extending our work to include a cross-sect or transformation plan aimed at supporting clients in transformation and dialogue with companies operating in the most carbon-intensive sectors of the economy.
We are committed to creating a friendly workplace where we care about the well-being of our employees. We care about well-being and health but also support employees in their development. We present more on this topic in the chapter Sustainability statement .
Diversity and gender equality in our bank is very important to us. That is why the policies we have adopted in this area have been in place for many years. We present more on this topic in the chapter on Corporate Governance and
Sustainability statement .
PLN 0.5 billion
2.52%
PLN 5.6 million
#1
3.9%
75%
Value of RES projects financed by our bank
Our GAR green asset ratio by KPI capex
ING collection to help flood- affected people
Highest NPS in the retail segment (31 points)
Share of Stage 3 loans and POCI
Management Board’s intention to pay a dividend from the profit for 2024
We are developing our product offers and looking for innovative solutions to best address the needs of our customers in the transition to a climate- neutral economy.
For more information, please see the Sustainability Statement section.
Together with the ING for Children Foundation and ING Hubs Poland, we organised a collection to help those affected by the floods. More than PLN 5.6 million was raised, of which PLN 1 million was donated by the bank and PLN 200,000 by ING Hubs Poland. We refer to the details in this regard in the subchapter Our social involvement .
We also pay great attention to the quality of our relationship with our clients. You can read more on this topic in the chapter ING Bank Śląski .
We take the utmost care in managing the capital entrusted to us. We take care to maintain capital above regulatory minimum levels while maintaining a high asset quality and profitability of our business. This allows us to share the profit with our shareholders, all the while taking care and precautions to protect our clients and their data. We present more on this topic in the chapter on Bank and client security .
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2024 events
The price of ING Bank Śląski S.A. shares in 2024 (PLN)
1. 1 February – publication of preliminary unaudited financial results for Q4 2023 ( link )
2. 12 February – resignation of a member of the Supervisory Board ( link )
3. 6 March – decision of the Bank Management Board on the dividend proposal ( link )
4. 8 March – publication of the annual report for 2023 ( link )
5. 8 March – resignation of a member of the Supervisory Board from seeking election to the next Supervisory Board term ( link )
6. 11 March – repurchase of the 3rd tranche of treasury shares under the Bank’s Identified Staff Incentive Programme ( link )
7. 14 March – convening of the Ordinary General Meeting and draft resolutions ( link )
8. 15 March – making the online identity confirmation process available to clients with the Moje ING app ( link )
9. 1 9 March – repurchase of the 3rd tranche of own shares and completion of repurchase ( link )
10. 27 March – Candidates for the Supervisory Board of ING Bank Śląski S.A. ( link )
11. 11 April – information on dividend payment for 2023 ( link )
12. 11 April – appointment of members of the Supervisory Board of ING Bank Śląski S.A. ( link )
13. 11 April – resolutions adopted by the Ordinary General Meeting of ING Bank Śląski S.A. ( link )
14. 11 April – decision of the Supervisory Board to commence the recruitment process for the position of President of the Bank Management Board ( link )
15. 18 April – information on the amount of the annual contribution to the BGF forced restructuring fund in 2024 ( link )
16. 24 April – registration of amendments to the Charter of ING Bank Śląski S.A. ( link )
17. 6 May – publication of interim report for Q1 2024 ( link )
18. 8 May – estimate of the amount of gross balance sheet value adjustment of the mortgage portfolio in PLN in Q2 2024 ( link )
19. 7 June – update on the MREL requirement for ING Bank Śląski S.A. ( link )
20. 10 July – phone verification available on the Moje ING app ( link )
21. 17 July – introduction of a new, comprehensive offer for the youngest ( link )
22. 7 August – publication of the interim report for H1 2024 ( link )
23. 8 August – making available to clients a mortgage loan offer for energy-efficient real estate modernisation ( link )
24. 3 September – information on a change in the composition of the Management Board of ING Bank Śląski S.A. ( link )
25. 11 September – issuance of mortgage bonds worth PLN 500 million by ING Bank Hipoteczny ( link )
26. 17 September – request from the PFSA for an opinion on setting the amount of the OSII buffer ( link )
27. 19 September – registration of amendments to the Charter of ING Bank Śląski S.A. ( link )
28. 9 October – non-preferred senior loan (NPS) agreement to meet MREL requirement ( link )
29. 29 October – a green loan offer for companies with a BGK subsidy made available to clients ( link )
30. 31 October – publication of the interim report for Q3 2024 ( link )
31. 29 November – information on the change in the composition of the Management Board of ING Bank Śląski S.A. ( link )
32. 3 December – repurchase of the 4th tranche of treasury shares under the Bank’s Identified Staff Incentive Scheme ( link )
33. 6 December – announcement of continuing emission reduction courses of action ( link )
34. 11 December – purchase of the 4th tranche of own shares ( link )
35. 11 December – PFSA’s decision on changing the amount of the OSII buffer ( link )
36. 17 December – purchase of the 4th tranche of own shares and information about the end of the buyback ( link )
37. 19 December – information on the absence of a Pillar 2 (P2G) prescribed capital charge ( link )
38. 20 December – approval by the PFSA of the appointment of the President of the Management Board of ING Bank Śląski S.A. ( link )
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ING Bank Śląski
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In this chapter you will find out who we are, the history behind us and how we operate as a group in Poland. What’s more, you will find information about the scale of our activity, our market shares and the awards and distinctions we have received. You will also learn about our integrated business strategy and how ING Bank Śląski creates value for its stakeholders. Our mission is to support and inspire people to be one step ahead in life and business, which is why we focus on technological development and supporting clients in their day-to-day operations. We are committed to community engagement with our community partners and corporate foundations: ING for Children Foundation and the ING Polish Art Foundation.
Who we are
ESRS 2 SBM-1.40
Our history goes back to 1988. It was in that year, exactly on 11 April, that the Council of Ministers issued a regulation on the establishment of Bank Śląski in Katowice, and this is where our head office is still located today. Less than a year later, at the beginning of February 1989, Bank Śląski began its operations. In 1991, our bank was transformed from a state-owned bank into a public limited company. In 1993, we received approval from the Securities Commission to list our shares to the public. In January 1994, ING acquired 2.4 million shares in our bank which corresponded to 25.9% of the share capital. On 25 January 1994, the shares of Bank Śląski made their debut on the Warsaw Stock Exchange.
Since 6 September 2001 – following the merger of Bank Śląski with the ING branch – we have been operating under our current name, ING Bank Śląski S.A. At that time, ING Group N.V. became the majority shareholder in our bank (with a stake of 87.77%, which was reduced to 75.00% in March 2005).
The bank is effectively growing organically. The bank’s mission is to inspire and assist clients in making the right life decisions. Achieving this requires a committed and responsive workforce. We pursue this mission through our bank, its subsidiaries and, above all, through our group of 8,001 employees (as at 2024 yearend).
After more than 30 years of continuous development, we are now ranked 4th in terms of total assets and commercial balance (total deposits and loans) in the Polish commercial banking sector. Our scale of operation contributes to the development of the Polish economy, but it also brings with it an awareness of the enormous responsibility for our employees, clients, society and the environment.
We are a universal bank that serves both retail clients and businesses. The Internet is the primary channel of communication with our over 5 million clients, with mobile banking playing a rapidly growing role. We also serve
our clients through a network of 175 meeting places. These are places where our clients can ask for advice and talk about their financial needs.
In 2024, ING is once again ranked as the leader in brand power (Demand Power) among banks (based on a local survey by Kantar Polska). The high level of brand strength indicates the role of the ING brand and its perception in building the bank’s market share. Particularly strong brand image dimensions are responding to clients’ needs and supporting them in making better financial decisions. ING Bank is seen as a brand for entrepreneurial people, occupying leadership positions. In 2024, ING was the most trusted brand among consumers and a bank that continuously improves the quality of its products and services in response to changing client needs and expectations. The strong image translated into the highest preference for ING among banks when consumers chose: a savings account, a loan, a mobile app, and second place for: mortgage loans and personal accounts. The brand image for the resourceful and entrepreneurial translates into ING’s highest preference for credit products in the business client segment (based on sole proprietorship segment survey, Nielsen Consumer). The ING brand is seen as a brand with which companies can develop their business ventures. The bank’s ESG activities, including educating children about cyber security, have translated into the perception of the bank as a brand supporting socially responsible attitudes.
How we operate as the ING Group in Poland
ING Bank Śląski S.A. is the parent company of the ING Bank Śląski S.A. Group. As a group, we have established ourselves as one of the largest financial institutions in Poland over our more than 30 years of operation. Our core business is banking, i.e., inter alia, placing the funds entrusted to us by our clients at risk (this is indicated in detail in paragraph 8 of our charter). As a bank, together with our subsidiaries, we form a group in which we are also active in, among other things:
leasing,
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factoring,
payroll and accounting services,
sales and implementation of business process robotisation software,
the provision of payment services for the processing of e-commerce transactions.
Group companies are also founders of the ING for Children Foundation and the ING Polish Art Foundation.
In 2024, the bank and its subsidiaries did not enter into any transactions with related entities that would be individually or in aggregate material transactions entered into on other than arm’s length terms.
ING Bank Śląski conducts interbank market operations with ING Bank N.V. and its subsidiaries. These include deposits, loans, borrowings and derivative operations. The bank also maintains the bank accounts of ING Group N.V. entities, as well as providing outsourcing and advisory services. All of the above transactions take place on an arm’s length basis.
The operating expenses incurred by the bank for the parent company result primarily from agreements for consultancy and advisory services, operational support and data processing and analysis, the purchase of IT services and the provision of software licences. In terms of costs incurred by the bank for other related entities, outsourcing agreements for the provision of system resource hosting services for various applications and IT security monitoring and penetration testing play a dominant role. You can read more about related party transactions in the “Related entities” note in the Annual Consolidated Financial Statements of the ING Bank Śląski S.A. Group for 2024.
Composition of the ING Bank Śląski Group
The Bank holds a 40% stake in Dom Data IDS Sp. z o.o. and, through ING Investment Holding (Polska) S.A., holds a 45% stake in Goldman Sachs TFI S.A. and treats these companies as associates. Subsidiaries are consolidated by our Bank using the full method, and the associated companies (Dom Data IDS Sp. z o.o. and Goldman Sachs TFI S.A.) are accounted for using the equity method. In addition to its subsidiaries and associates, the bank holds minority equity investments in the following companies, among others:
Biuro Informacji Kredytowej S.A. (9.0% of shares),
Krajowa Izba Rozliczeniowa S.A. (5.7% of shares),
Polski Standard Płatności S.A. (14.3% of shares).
Subsidiaries and associates within the ING Bank Śląski S.A. Group as at 31 December 2024
A solid frame line indicates a subsidiary and a dashed frame line indicates an associated company; *the ING Lease (Polska) Group comprises an additional 5 subsidiaries in which ING Lease (Polska) Sp. z o.o. holds 100% of the shares.
ING Investment Holding (Poland) S.A.
ING Investment Holding (Poland) is a holding company. Through it, the Bank primarily holds shares in four companies: ING Lease Polska Sp. z o.o. (100%), ING Commercial Finance Polska S.A. (100%), Paymento Financial S.A. (100%) and Goldman Sachs TFI S.A. (45%).
ING Lease (Polska) Sp. z o.o.
ING Lease (Polska) has been present in the market since 1995. Since 2012, it has been a member of the Group of ING Bank Śląski S.A. ING Lease (Polska) offers leasing to finance both movables (in the form of cars, vans, heavy transport vehicles, machinery and equipment, construction, medical, equipment and IT equipment) and real estate. ING Lease (Polska) focuses on modern solutions, digital sales channels and tailoring offers to individual client needs.
ING Bank Śląski S.A.
ING Investment Holding (Poland) S.A. (100%)
ING Lease Polska Sp. z o.o. (100%)*
ING Commercial Finance Polska S.A. (100%)
Paymento Financial S.A. (100%)
Goldman Sachs TFI S.A. (45%)
ING Bank Hipoteczny S.A. (100%)
ING Usługi dla Biznesu S.A. (100%)
Nowe Usługi S.A. (100%)
SAIO S.A. (100%)
Dom Data IDS Sp. z o.o. (40%)
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The ING Lease (Polska) Group comprises an additional five subsidiaries in which ING Lease (Polska) Sp. z o.o. holds 100% of the shares. The company services are targeted at all market segments: large, medium-sized and small enterprises as well as micro clients (entrepreneurs).
In 2024, the company’s new leasing production amounted to PLN 6.2 billion (-10.3% y/y). As at 2024 yearend, the company served more than 37,300 clients (up by 3.0% y/y) and the portfolio value was PLN 14.0 billion (+2.2% y/y; based on management accounting data).
ING Commercial Finance Polska S.A.
ING Commercial Finance Polska offers factoring and receivables financing services. The company was founded in 1994 under the name Handlowy Heller. Since 2006, it has been operating under the name ING Commercial Finance, having been integrated into ING Group N.V. Since 2012, it has been part of the ING Bank Śląski Group.
In 2024, ING Commercial Finance Polska’s turnover amounted to PLN 63.6 billion (-3.7% y/y), representing around 13.5% of the turnover of the entire market. As at 2024 yearend, the company had 8,700 clients (down 15% y/y, related to the cleaning of the portfolio from inactive clients) and had purchased 4.1 million invoices (down 3% y/y).
Paymento Financial S.A.
Paymento Financial was founded in 2016 as an initiative by private individuals and an equity infusion by venture capital funds. The company became part of the Bank Group on 31 March 2023 as a result of the acquisition by ING Investment Holding (Polska) S.A. of 100% of the shares from existing shareholders.
The aim of the company is to provide e-commerce transaction processing services to financial market players, particularly in the white-label formula. The company is a regulated entity authorised by the Polish Financial Supervision Authority to provide payment services as a National Payment Institution.
The company entered into a partnership with ING Bank Śląski in 2017. The subject of the cooperation is the development and transaction handling of the imoje payment gateway, the cooperation is being gradually developed. The company also provides services to entities outside our group.
ING Bank Hipoteczny S.A.
ING Bank Hipoteczny’s strategic objective is to acquire and then increase the share of long-term funding on the ING Bank Śląski Group S.A.’s balance sheet by issuing mortgage bonds.
The achievement of the set goal will support:
strengthening the funding stability in the ING Bank Śląski S.A. Group,
diversification of funding sources for the existing retail mortgage portfolio,
alignment of the term structure of assets and liabilities in the balance sheet of the ING Bank Śląski S.A. Group,
lowering the cost of financing the conducted lending activity in the part of the loan portfolio financed with other long-term instruments.
In 2024, the bank carried out a second issuance of mortgage bonds. As at 2024 yearend, the nominal value of the mortgage bonds issued by the bank and outstanding amounted to PLN 500 million. Mortgage bonds issued by the bank are listed on the Luxembourg Stock Exchange and the parallel market of the Warsaw Stock Exchange. The bank’s mortgage bonds can serve as collateral for a Lombard loan, a technical loan and repo operations conducted by the National Bank of Poland.
ING Usługi dla Biznesu S.A.
ING Usługi dla Biznesu was founded in 2012 and offers innovative business services that go beyond traditional banking. The company’s main objective is to provide tools that make running a business easier. ING Usługi dla Biznesu currently offers the following solutions:
ALEO.com – the largest online database of companies (registration data, financial data),
ING Księgowość – an invoicing and payment management platform as well as accounting and payroll services for entrepreneurs,
Firmove – a service supporting would-be and existing entrepreneurs in business creation and development.
In 2024, ING Usługi dla Biznesu consistently expanded its competences in supporting the acquisition of ING Bank Śląski S.A.’s corporate clients through a number of initiatives aimed at promoting banking products, mainly a company account for sole proprietorships. Initiatives ranged from remote promotion through channels owned by ING UdB, to cooperation with external partners and processes with telephone assistance to help clients set up a business and a company account with ING Bank Śląski S.A.
Nowe Usługi S.A.
Nowe Usługi S.A. conducts educational and marketing activities. In terms of education, it runs the edukacjagieldowa.pl portal. This is a site about investing and the stock market, for both novice and advanced
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investors. The website publishes investment-related material on an ongoing basis and a knowledge base is available.
Marketing activity centres around popularisation of ING Turbo certificates on the Polish market. These are instruments listed on the Warsaw Stock Exchange, of which ING Bank N.V. is the issuer. The company’s main activities include organising marketing campaigns, providing training, operating the ING Turbo helpline or providing technical support for the ingturbo.pl website.
SAIO S.A.
SAIO, the technology spin-off of ING Bank Śląski, was established in 2022. The company specialises in the sale and implementation of business process automation solutions based on its proprietary RPA (Robotic Process Automation) platform. We offer the SAIO platform to companies in many industries - it is successfully used in the areas of sales, finance, accounting, purchasing processes or HR, among others. SAIO provides customers with a full range of automation services, and the product guarantees safety, speed of implementation and full control over the implemented robots. SAIO also supports companies in integrating and implementing artificial intelligence (AI) and other modern technologies, enabling them to use them effectively in their day-to-day business operations.
The development of SAIO’s business is based on its own resources and cooperation with partners in Poland and internationally.
Goldman Sachs TFI S.A.
Goldman Sachs TFI is the second largest TFI on the Polish market in terms of assets in capital market funds. It is also one of the longest-established investment fund companies in Poland. It has been operating in the local market since 1997. It is authorised by the Polish Financial Supervision Authority to operate. According to data as at the end of December 2024, the company served over 689,000 individuals and institutions and managed assets worth PLN 44 billion.
Goldman Sachs TFI S.A. is part of Goldman Sachs Asset Management, a US-based asset management firm. For 150 years, Goldman Sachs Asset Management has provided investment and advisory services to the world’s leading institutions, financial advisers and individuals. It benefits from a global network and a wealth of expertise in every region and market of the world. As at 2024 yearend, Goldman Sachs Asset Management managed USD 3.1 trillion of assets worldwide.
Dom Data IDS Sp. z o.o.
Dom Data IDS Sp. z o.o. is a special purpose vehicle created jointly by ING Bank Śląski S.A. and Dom Data AG Sp. z o.o. in order to provide services in a new, expanded formula, which offers much broader cooperation opportunities.
Dom Data AG is a Polish company operating in the IT market and implementing projects both in Poland and in the countries of the European Union. Among other things, it is the author of the Ferryt BPM process platform and additionally provides comprehensive solutions for the banking sector.
The intention of the joint venture is to further automate and digitise the Bank’s processes, accelerate technology transition, as well as migrate to the public cloud and develop and maintain the Ferryt platform (a lowcode platform for business process automation) and the IWA application.
Changes in the Group’s structure
On 19 January 2024, ING Bank Śląski S.A. obtained the approval of the President of the Office of Competition and Consumer Protection (OCCP) for a concentration involving the acquisition of a 40% stake in Dom Data Services Sp. z o.o. in Q4 2023. (the approval of the President of the OCCP was a condition for finalising the acquisition). In April 2024, the company’s name was changed to Dom Data IDS Sp. z o. o.
On 27 May 2024, i.e. the date of entry to the shareholder register, the transfer of 100% of the shares in SAIO S.A. from ING Investment Holding (Polska) S.A. to ING Bank Śląski S.A. took place. (in accordance with the provisions of the sale agreement of 20 May 2024 between ING Investment Holding (Polska) S.A. and the Bank).
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Business model and value creation
Integrated thinking
ESRS 2 SBM-1.42
Our business model and strategy are firmly rooted in the concept of integrated thinking. As a bank, we contribute more than just our financial value to society. The role of a financial institution is to support and promote economic, social and environmental progress leading to a better quality of life for people in society, while generating adequate profits and an increase in company value. Integrated thinking helps us to make decisions and take actions that take into account the creation and preservation of value for our stakeholders in the short, medium and long term. Our value creation model shows in a simplified way which capitals we use to create value for and with our stakeholders.
Our value creation model
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ING Bank Śląski S.A.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Our business model
ESRS SBM-1.40
We are a universal bank which, together with the other companies in its group, serves both individual clients and companies as part of its operations. We want to be seen as the bank of the future for entrepreneurial people – a bank that provides its clients with practical solutions that they need and are happy to use. We want people to be able to achieve their goals with our support.
Our mission is to support and inspire people to be one step ahead in life and business. As a bank, we support our clients in their financial decisions providing knowledge and tools as well as simple, useful and tailored solutions and services, among others.
Our core business is, on the one hand, to enable our clients you to save money safely and efficiently and, on the other hand, to finance loans. The financing granted supports purchases of housing, opening business activity or development of companies. We develop and offer products to support sustainable operations for both individuals and companies. In this way, we support the development of the economy and society.
We offer our clients banking products and services (such as loans or savings accounts and transfers), but also in the area of beyond banking , i.e. not related to traditional banking. Our expertise allows us to build a positive client experience. It is not solely insurance products, accounting services or investment products. We offer our clients a broad range of tools for financial management.
As the bank of the future, we implement innovations to meet the needs of our clients. We also use big data and artificial intelligence and cooperate with fintechs to reach beyond. We take care that our payment and transactional systems are effective. At the same time – with the growing popularity of cashless trading – an efficient electronic payment system is becoming increasingly important. We provide our clients with transactional banking, processing transfers, card, phone or BLIK payments and developing tools for cashless payments. To this end, we have provided specific solutions to support the development of e-commerce, such as the imoje payment gateway – the first online payment for online shops offered by a bank in Poland.
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ING Bank Śląski S.A.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
For us electronic and mobile banking are the core interaction channel with both retail and corporate clients. We want our clients to have tools that enable them to make modern payments and remotely deal with simple issues such as paying for public transport tickets, parking and motorway journeys. Our electronic banking also allows you to deal with official matters more conveniently, e.g. you can submit applications for social benefits.
We also note the changing role of bank branch offices. That is why, for several years now, we have no longer been talking about branches, but about meeting places. These are places where our advisers help clients to make important decisions – whether in everyday banking, improving their living conditions, growing their business, or securing their financial future. For corporate clients, we also provide a service at their company’s premises, depending on their needs. The task of our employees is to support them in taking financial decisions, inter alia, by analysing their financial needs and goals, financial condition or risk levels of investments.
We integrate sustainability into our business
We are aware that, as a financial institution and a large organisation, we influence many economic processes and individual choices. Guided by our principles and values, we strive to respond to the challenges of the modern world. This is why we integrate sustainability principles into our business and non-business decisions – ESG goals are part of our strategy, this applies to the areas of climate and environment (E), society (S) and corporate governance (G). We support our clients in environmental transformation, entrepreneurship, and financial management. We work towards equal social opportunities and we care for the health of our employees. Our foundation is to operate ethically based on values, principles and processes and in accordance with regulations and with reference to market best practice.
We manage risk
As a public trust institution, we are aware of the importance of stability and an effective risk management system for the banking sector and the entire economy. In our bank, it is structured in accordance with the best market standards, based on the principles of the three lines of defence. The first line consists of business management, the second line includes risk and financial management, and the third line comprises internal audit and compliance. We manage ESG risks as an integral part of each group of risks, both financial (e.g. credit risk or market risk) and non- financial (e.g. operational risk). We also care for optimum management of the asset and liability structure of our balance sheet in line with our risk appetite limits.
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ING Bank Śląski S.A.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Key capitals used in our business model and key results in 2024
ESRS 2 SBM-1.42
Capitals – description, status and effects of their processing in 2024
Capital
Description
Input
Outputs and outcomes
Human and intellectual
These are our employees, their knowledge, competences and commitment. Intellectual capital is our skills and knowledge that enable us to run our business and achieve our goals.
We have 8,000 employees in our group (8,400 the year before).
We have a Step-up system in place and Individual Development Plans for our employees.
We have an organisational culture in place (Orange Code) that we are proud of.
We work on the basis of Agile and PACE methodologies.
The average number of development actions per employee was 37 (40 the year before).
The ratio of the difference between the average pay of men and women to the average pay of men according to the EBA methodology (unadjusted ratio) is 31%.
We have received the Top Employer certification for many years (in January 2025 we were awarded this title for the 16th time in a row).
We are implementing a new cloud-based central system.
The availability of Moje ING and ING Business as at 2024 yearend was 99.94% and 99.89% respectively.
Our employee Net Promoter Score (eNPS) in the 2024 OHI survey is 48 (similar in 2023).
Financial
By financial capital we mean funds entrusted to us by clients, capital provided by shareholders and bondholders. These are all funds available to us from our wider capital providers and through which we finance our operations.
Our portfolio of liabilities to clients amounts to PLN 220.0 billion (PLN 205.3 billion the year before).
Our equity balance is PLN 17.2 billion (PLN 16.7 billion the year before).
The balance of our Tier-2 subordinated liabilities is PLN 1.3 billion (1.5 billion the year before) and MREL liabilities are PLN 9.1 billion.
Our total capital adequacy ratio is 14.85% (17.41% the year before) and our MREL (TREA, standalone, including combined buffer requirement) is 23.49%.
Net profit amounted to PLN 4.4 billion (-1.6% vs. the year before).
MCFH-adjusted return on equity was 20.4% (22.9% the year before).
Interest expenses amounted to PLN 4.4 billion (PLN 4.2 billion the year before).
Social
Social capital is the relationship with our surrounding stakeholders: clients, suppliers, local communities or social and charitable organisations.
We serve 4.6 million retail clients (4.5 million the year before), of which more than 2.3 are primary clients (2.2 million the year before).
We also serve 572,000 corporate clients (559,000 the year before), of which 224,000 are primary clients (213,000 the year before).
We are the founders of two corporate foundations (ING for Children Foundation and ING Polish Art Foundation).
We have published the ING Bank Śląski S.A. Group Declaration on Respect for Human Rights.
We signed the Children’s Rights Charter in Business.
The NPS of retail clients was 31 points (29 the year before) and remained the highest in the survey’s peer group.
The NPS for the corporate segment is divided into categories:
Entrepreneurs – 42 points (similar to 2023 and 2022), 17 points above market values
Medium-sized companies – 46 points (up 7 points from 2023), 26 points above market values
Large companies – 44 points (down 8 points from 2023), 10 points above market values
Strategic clients – 85 points (down 5 points compared to 2023).
Our employees have dedicated almost 43,000 hours to volunteering.
In total, ING Bank Śląski has donated PLN 10.2 million (PLN 6.4 million in 2023) to social and charitable activities – the amount includes charitable donations and donations to corporate foundations.
Environmental
Environmental capital is the natural environment and its resources. The direct negative impact of our organisation (i.e. in terms of our own economy) on this capital is not material, but we are committed to reducing it. We aim to minimise our indirect negative impact on this capital, generated mainly through the investments we finance.
In 2023, we published “ ING BSK’s Roadmap for Reducing GHG Emissions ” concerning its own
economy and loan portfolio. In 2024 we announced the continuation of the document
broaden actions to include a cross-sector transformation plan to support clients in transitioning to more sustainable business models and dialogue with companies operating in the most carbon-intensive sectors of the economy and the bank’s portfolio. In addition, the new document reports on the progress of the reduction measures announced a year ago in the bank’s client support plan.
We are constantly developing our sustainability product range.
We assessed the long-term impact of climate risk on the bank’s loan portfolios by performing climate stress tests based on selected NGFS scenarios over a horizon to 2050.
We have reduced financed Scope 3 greenhouse gas emissions by 6.5% year-on-year and 10.7% relative to 2022.
We provided PLN 0.5 billion of financing for RES projects (PLN 0.8 billion the year before).
In 2024, we held a series of roundtables in 9 cities across Poland – together with more than 150 Business Banking companies, experts and partners, we discussed the challenges and opportunities of climate transformation and sustainable development.
We made a donation of PLN 2 million to the “Błota Rakutowskie” project for activities related to the protection and restoration of the habitat of rare Polish birds in the naturally valuable Natura 2000 area. The project is implemented by the WWF Poland Foundation and local partner ALAUDA Nature Society, and aims to raise awareness of the environmental role of wetlands.
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ING Bank Śląski S.A.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Business strategy
Our mission is unchanged – we support and inspire people to be one step ahead in life and business. We are building our operational strategy around this mission. In a world that is constantly changing, we are focusing our efforts on the digitalisation of processes and client relationships, as well as on sustainability actions. The implementation of our strategy is based on three, key pillars:
Excellent client service.
People.
A safe, sustainable and resilient organisation.
The implementation of our strategy within its three strong pillars is based on interrelated groups and mutually supportive priorities, which we explain below.
Increased client activity and digitalisation
We are focused on continuous growth in the number of active clients and primary clients in all our business segments. We are committed to the highest quality of service and keep our promises. We are building a comprehensive range of products and services, and its digitalisation and high accessibility are increasing the level of self-service by our clients. We are constantly optimising ourselves in order to better adapt our processes to the needs of different client groups.
Operational efficiency, AI and data management
We aim for fully automated processes, very high availability and error-free transactional and operational systems. We focus on a modern working environment and tools. We effectively manage and use data to support our operations and client interactions.
Motivation and commitment, strong teams
We provide a safe and healthy workplace for all our employees. We want them to be proud of their employer. We create a consistent, positive and professional corporate image. We are building an organisational culture designed to foster responsibility, commitment and identification of employees with the company. We want our employees to build strong and motivated teams with their professionalism and commitment.
Stability, accessibility, modernity
We want to be a strong, flexible and continuously change-oriented organisation. We want to develop these features on the basis of integrated, state-of-the-art transactional and operational systems. We aim to standardise the tools and systems we use. We place emphasis on ensuring the stability, security and resilience of our operating systems. Our competitive advantage must be our ability to change at a faster rate than the changes taking place in our environment.
Compliance with regulatory requirements
Our actions must be characterised by total compliance with regulatory requirements. This compliance must be built into all operational layers of our business. We are committed to a high risk culture, whereby each of our employees is aware of the risk factors associated with their responsibilities and our business.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Sustainable development
We are building a strong ESG culture, increasing our employees’ awareness, knowledge and commitment to sustainability. In terms of self-management, we have consistently continued our emissions reduction measures, focused on real estate and the vehicle fleet. In the area of reducing emissions from the loan portfolio, our actions are consistent with the framework and guidelines promoted by organisations such as the Net Zero Banking Alliance (NZBA). Their aim is to fund climate actions to move the real economy towards net zero greenhouse gas emissions by 2050. ING Bank Śląski, as part of the ING Group N.V., a member of the NZBA, also joins in the objectives it promotes. We support and further intend to actively support our clients in complying with ESG requirements to remain competitive. We have described how we operate in the documents “ING BSK’s Roadmap for Reducing GHG
Emissions” and “ING BSK Group’s Roadmap for Reducing GHG Emissions. Part 2” , in which we describe, inter alia, a
plan to support clients in their sustainable transformation. We integrate ESG into our business and operations at all levels.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Our business strategy for 2022-2024 and our financial ambitions for 2024 and the status of their achievement in 2024
As part of the implementation of our strategy, in 2022 we have set ourselves a number of key strategic areas to work on until the end of 2024. The level of achievement of these targets in 2024 is shown in the table below:
Business strategy objectives for 2022-2024
Key priorities
Area and measure of ambition in 2024 published in 2022
State of ambition in 2024
Increased client activity and digitalisation
Number of primary clients: 2.3 million in the retail segment and 215,000 in the corporate segment
Relational NPS around: 29 for individual clients, 42 for entrepreneurs, 42 for medium companies, 49 for large companies and 69 for strategic clients
Transfer of entrepreneurs services from Moje ING to ING Business (100%)
PLN 2.3 million in the retail segment and PLN 224 thousand in the corporate segment (PLN 2.2 million and PLN 213 thousand the year before, respectively)
31 for retail clients, 42 for entrepreneurs, 46 for medium-sized companies, 44 for large companies and 85 for strategic clients
The process of transferring clients to ING Business was completed in January 2023
Operational efficiency, AI and data management
Number of meeting places – 200
Number of POS at meeting places – 50*
Number of clients per FTE in the Operations Division – 3 100
Ratio of general and administrative expenses to average commercial balance – a level 10 p.p. lower than in 2021 (2021 = 100%)
175 meeting places (205 the year before)
55 cash service points (no change y/y)
3,115 (2,900 the year before)
105% (previous year 104%)
Motivation and commitment, strong teams
Employee NPS of around 60 points
OHI score around 85 points
Percentage of internal recruitments for management positions around 80%
Recruitment time (time to hire ) around 45 days
48 points (48 points the year before)
84 points (84 points for 2022, the survey is conducted every other year)
77% (77% the year before)
37 days (41 days the year before)
Stability, accessibility, modernity
Availability of Moje ING and ING Business at a minimum of 99.94%
Percentage of applications migrated to the cloud at a minimum of 50%
Control automation of a minimum of 90%
99.94% for Moje ING and 99.89% for ING Business (99.95% and 99.91% the year before, respectively)
31% (27% the year before)
73% (65% the year before)
Compliance with regulatory requirements
Non-financial risk level of no more than 2.4
Compliance risk level not higher than 2.4
Timely implementation of all audit recommendations (no delays)
1.6 (2.1 the year before)
1.8 (2.2 the year before)
No overdue payments (similar to the year before)
Sustainable development
Gender pay gap index – difference of no more than 1 p.p.**
Setting a minimum of one ESG-related goal for 100% of managers and 50% of employees
New financing for RES – target for 2024-2030 is PLN 5 billion (according to the document “ING
BSK’s Roadmap for Reducing GHG Emissions”)
6 p.p. difference. (5 p.p. the year before)
100% of leaders and 97% of staff had an ESG objective
We have earmarked PLN 0.5 billion in the corporate area for RES financing in 2024
*During 2024, the assumptions were updated with a target of 55 cash points. **The ratio calculated in accordance with the ZBP methodology - the average ratio of women's to men's pay weighted by the structure of employment in each grade. Other assumptions used in the calculation include conversion of pay to full-time for part-time employees and annualization of pay for employees included in the analysis. This indicator was calculated for the purpose of accounting for the above target for 2024 and will not be reported in the future.
The full presentation summarising our strategy to 2024 and plans up to 2025 is available at this link.
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ING Bank Śląski S.A.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Our financial ambitions for 2024 published in 2022 and an assessment of the extent to which they have been achieved in 2024 and our financial ambitions for 2025
Indicator
2021
2022
2023
2024
Ambition 2024
Comments on implementation in 2024
Ambition 2025
Average annual* growth in gross loan portfolio
16.2%
6.8%
1.2%
6.6%
~9%
The higher growth rate of the loan portfolio in 2024 is mainly the result of higher volumes on the retail segment.
+8% y/y
Growth area
Average annual* increase in net fee and commission income
20.7%
13.6%
3.3%
6.0%
>7%
The increase in net fee and commission income was supported by growth in commissions from payment cards, lending, the sale of insurance products and the distribution of units.
>5% y/y
Cost/income ratio**
43.0%
47.2%
34.7%
35.1%
<40%
Y/y ratio maintained at similar level to 2023, slight increase due to slightly lower revenue dynamics (+6% y/y) vs cost dynamics (+7% y/y).
<40%
Performance area
Risk cost margin ratio***
23 pbs
48 pbs
32 pbs
58 pbs
<50 pbs
The cost-of-risk margin increased y/y (which was due, inter alia, to the realisation of credit losses on several clients in the corporate segment).
<60 pbs
Total solvency ratio
16.05%
16.22%
17.41%
14.85%
>15%
The total capital adequacy ratio decreased by 2.56 p.p. y/y, mainly as a result of dividend payments from retained earnings and an increase in risk-weighted assets due to model changes and changes in credit volumes.
>15%
Area of stability
Loan-to-deposit ratio
85.9%
80.4%
76.2%
75.8%
90-95%
Credit growth was lower than deposit growth. The sector, and with it our bank, struggled with increasing deposit inflows, while lending slowed down.
75-80%
Return on equity (adjusted for MCFH)
14.4%
10.2%
22.9%
20.4%
>13%
A net result only 2% lower y/y translated into continued high profitability.
>15%
Area of profitability
Dividend payout ratio from profit
30%
-
75%
around 75%
30-50%
We plan to pay out 75% of 2024 net profit as a dividend.
50%
*Average for 2021-2024; **income including share of profits of associated entities, bank tax not included in cost of operation; ***excluding legal risk costs of FX mortgage loans.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
ESRS 2 SBM-.40
Risks in the implementation of the business strategy in 2025
Geopolitical tensions
High number of conflicts, including armed conflicts
The timing, manner and effects of the end of the war in Ukraine and the Middle East
Strained economic and territorial relations between the US, China, the EU and other partners. Dividing the world into spheres of influence.
Uncertainty about the shape of trade, supply chains.
Climate crisis
Growing social unrest, deepening divisions, new elites, hosts of discontented.
Resolving political choices that deepen divisions between the parties.
The shape of the European Union and its cohesion remains uncertain.
Increasing number of natural disasters / Extreme weather conditions.
Intensification of population migration.
Energy transformation
Energy costs – a factor of competitive advantage and national security.
Energy transformation of economies and companies, including its implementation costs.
Necessary technological changes.
Burdening economic growth with the costs of CO2 emissions and changing the energy mix.
Sovereign debt
High debt servicing costs due to the persistence of elevated levels of market interest rates.
High costs incurred to resolve military conflicts (including the war in Ukraine).
The rising costs of the climate crisis.
Inflation
Persistence of high local persistent inflation in Poland.
Wage inflation. Continued pressure on companies’ costs.
Ease of transfer of increasing product prices and charges to the final client.
Cyber security
The availability of modern technologies (including AI) that can be used by cybercriminals will lead to lower entry thresholds for cybercriminal activity.
Sophisticated criminals will be backing themselves up on cloud solutions and vendor-provided services in an attempt to negatively influence/penetrate the financial market, looking for the weakest link.
The number of cybercriminal actions will increase, along with the number of attacks on clients, banks and suppliers.
The Bank will continue its prevention and detection actions, implement further strong and consistent security mechanisms in a very heterogeneous application and infrastructure environment.
The Bank will continue to introduce strong controls and very high standards for working with suppliers.
Regulatory uncertainty
Large number of announced regulatory changes awaiting implementation or recently implemented (e.g. 6th AML Directive, DORA, ESG, AI Act, MiFiD III, Accessibility Act).
High regulatory volatility. Interpretative challenges (including mutual conflicts) in regulatory provisions requiring rapid implementation.
Growing trend of integrating AI into AML/CFT compliance solutions, increasing technical and interpretive challenges.
Lack of predictability of regulatory changes.
Reform of the benchmarks
Difficult and complicated process of implementing benchmark reform.
Transition to WIRON to be abandoned in favour of POLSTR.
Housing market financing model
Uncertainty of regulation and legal prejudices.
Restoring the sustainability of contractual relationships.
Streamlining the relationship between monetary policy and the impact on the client/consumer.
Failure to finalise a standard contract template, lack of defined terms and conditions for prepayments.
Structural over- liquidity of the sector
Inflow of deposits and funding from the professional market.
Limited demand for loans.
Increased levels of investment in Treasury securities.
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ING Bank Śląski S.A.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Opportunities for the implementation of the business strategy in 2025
Customers
Maintain (above market levels) the rate of acquisition, transactionality and new customer activity.
Increase the share of primary and primary mobile customers in the total number of customers.
Taking advantage of electronic banking potential.
High adaptability of new solutions, including technological ones, positively influencing cost efficiency.
Sustainable development
Potential for investment and economic activity as a strong boost to GDP growth rates.
Increased environmental awareness among the public, which will generate greater demand for sustainable products.
Increased availability of green energy sources.
EU climate neutrality.
New sources of state funding, including access to the EU Reconstruction Fund and how to use it.
Stability of the financial sector
All fundamental risks to the financial sector remain moderate or low.
High level of provisions made for the risk of foreign currency mortgages.
High level of capital buffers and met decile level of MREL.
High dividend-paying capacity.
Economic growth
Expected acceleration of economic growth (GDP).
High potential for increased investment.
Additional potential impetus related to the reconstruction of Ukraine.
New technologies
Stability and security of systems.
Productivity and flexibility.
New regulations - AI Act.
The scale of our activity
ESRS 2 SBM-1.40
Our clients
In 2024, we acquired 293,000 new individual clients (284,000 in 2023), 57,000 entrepreneurs (50,400 in 2023) and 4,600 corporate clients (19,500 in 2023).
At the end of December 2024, the number of clients stood at 5.1 million (up by 127,000 y/y) and was divided into the following business segments:
4.57 million individual clients (up by 113,500 y/y),
572,000 corporate clients (up by 13,500 y/y), including:
451,000 entrepreneurs (up by 9,100),
118,000 medium-sized and large companies (up by 4,500),
3,300 strategic clients (down by 62 clients y/y).
The growth of our client base is better described by the number of primary clients, i.e. those for whom we are the bank of first choice and who have several (specific) products. As at 2024 yearend, we had 2.51 million such clients in total, i.e. 102.2 thousand more than as at 2023 yearend, including:
2.28 million individual clients (up by 90,900 y/y),
163,000 entrepreneurs (up by 6,700 y/y), and
61,000 corporate clients (excluding strategic clients; up by 4,600 y/y).
Primary clients accounted for 49% of our total clients as at 2024 yearend (48% as at 2023 yearend).
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 client service system.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Number of clients of the ING Bank Śląski S.A. Group (thousands, end of year)
Primary clients (thousands, end of year)
Asset value and market share
The ING Bank Śląski Group assets (PLN billion) and market share in sector assets
Source: Market data – NBP (Aggregate balance sheet of other monetary financial institutions).
The value of our assets as at 2024 yearend was PLN 260.4 billion. This was 6.1% higher than as at 2023 yearend. Compared to the end of 2020, our balance sheet total increased by 39.5% (by PLN 73.8 billion). Total asset growth in the sector was 10.5% y/y in 2024 and 40.0% compared to 2020, respectively. Our bank’s share of the sector’s assets was 7.6% as at 2024 yearend (similar to the end of 2020). As at 2024 yearend, we were the fourth bank in the market by asset value.
Value of receivables from clients and market share
The volume of gross receivables (including loans measured at fair value) from our clients as at 2024 yearend amounted to PLN 167.4 billion and was by 5.8% higher than as at 2023 yearend. This translated into a 0.2 p.p. increase in our market share in loans, to 10.8% by the end of 2024.
The most significant part of the gross receivables portfolio continues to be receivables from corporate clients, with a share of 57.4% (-1.6 p.p. y/y) in 2024.
In terms of the size of the portfolio of amounts due from clients, we were the fourth bank on the market as at 2024 yearend.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Gross receivables from clients of the ING Bank Śląski Group (PLN billion)
Market share in gross receivables
Value of deposits and market share
Our clients’ savings (excluding off-balance-sheet savings of the retail banking segment) amounted to PLN 218.1 billion as at 2024 yearend, up by 7.9% y/y. Our market share as at 2024 yearend was 10.2%, down from 10.3% a year earlier (-0.1 p.p.).
Liabilities to the retail segment remain the predominant part of our clients’ balance sheet savings (they accounted for 57.6% of total deposits as at 2024 yearend, compared to 55.4% as at 2023 yearend).
In terms of the size of the client liabilities portfolio, we were the fourth bank on the market as at 2024 yearend.
Amounts due to clients of the ING Bank Śląski S.A. Group (PLN billion)
Market share in deposits
Business segments
ESRS 2 SBM-1.40
In 2024, we divide our business activities into two segments – the retail banking segment and the corporate banking segment. Other business areas, including, for example, treasury activities, are allocated between the two segments. Within the retail banking segment, individual clients are served. Within the corporate banking segment, we serve entrepreneurs and companies run on a full accounting basis. We divide the corporate banking segment into three client groups, which depend on the value of annual turnover – as shown in the diagram below:
Entrepreneurs and medium-sized and large companies are served in the Business Banking division and strategic clients in the Wholesale Banking division.
Entrepreneurs with an annual turnover of up to PLN 10 million
Medium-sized and large companies with an annual turnover of between PLN 10 million and PLN 1 billion
Strategic clients with an annual turnover in excess of PLN 1 billion
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ING Bank Śląski S.A.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Retail segment
Within the retail segment, we serve individual clients – we already have 4.57 million of them, of which 2.28 million are primary clients for whom we are the bank of first choice.
Number of clients (thousands)
Commentary on segment performance
The gross profit of the retail segment amounted to PLN 2,583 million in 2024, up by PLN 411 million (18.9%) y/y. The improvement in the retail segment’s performance was primarily driven by:
an increase in interest income (PLN +374 million y/y) and
an increase in commission income (PLN +82 million),
with operating expenses almost unchanged y/y (PLN -24 million) and a slight increase in risk costs (PLN -10 million y/y).
Profit and loss account
(PLN million)
2020
2021
2022
2023
2024
y/y
(PLN million)
y/y
(%)
Net interest income
2,440
2,716
1,912
3,779
4,153
+374
+9.9%
Net fee and commission income
460
558
581
589
671
+82
+13.9%
Other income*
61
31
88
100
110
+10
+10.0%
Income
2,961
3,305
2,581
4,468
4,934
+466
+10.4%
Operating expenses
-1,439
-1,543
-2,094
-1,954
-1,978
-24
+1.2%
Result before risk costs
1,522
1,762
487
2,514
2,956
+442
+17.6%
Risk cost**
-586
-135
-587
-111
-121
-10
+9.0%
Bank tax
-197
-232
-247
-231
-252
-21
+9.1%
Gross result
739
1,395
-347
2,172
2,583
+411
+18.9%
*Including share of profit of associates; **Including legal risk costs of foreign currency mortgage loans
Market shares
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ING Bank Śląski S.A.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Balance sheet and key indicators
(PLN billion)
2020
2021
2022
2023
2024
y/y
(PLN billion)
y/y
(%, p.p.)
Total assets
83.1
92.0
93.0
104.1
113.0
+8.9
+8.6%
Receivables from clients (gross)
55.8
66.5
63.9
64.9
71.3
+6.4
+9.8%
Liabilities to clients
90.5
99.7
104.8
112.1
125.7
+13.6
+12.1%
Loans (gross) to deposits
62%
67%
61%
58%
57%
-1.2 p.p.
Costs to income
48.6%
46.7%
81.1%
43.7%
40.1%
-3.7 p.p.
Costs (including bank tax) to income
55.3%
53.7%
90.7%
48.9%
45.2%
-3.7 p.p.
Cost of risk margin
1.12%
0.22%
0.90%
0.17%
0.18%
0.0 p.p.
Participation of Stage 3 and POCI
1.89%
1.52%
1.45%
1.59%
1.34%
-0.2 p.p.
Gross receivables portfolio from clients in the segment by product (PLN billion)
As at 2024 yearend, total gross receivables from retail clients increased by 9.8% y/y to PLN 71.3 billion. The biggest increase was recorded in the portfolio of PLN fixed-rate mortgage loans (PLN +6.6 billion, 42.3% y/y), with a decrease in the portfolio of PLN variable-rate mortgage loans (PLN -1.1 billion, -2.7% y/y). In mid-2024, the bank decided to suspend the sale of floating rate loans based on the WIRON 1 M Compound Rate (which had been granted since the beginning of 2024 and had a volume of around PLN 3.4 billion as at 2024 yearend) and resumed offering such loans from the fourth quarter of 2024, but based on the 1M WIBOR rate. The cash loan portfolio recorded an increase of PLN 0.8 billion, or 10.2% y/y.
The mortgage portfolio for the energy-efficient home option amounted to PLN 3.4 billion as at 2024 yearend, an increase of 18.8% y/y (an energy-efficient house is a house or a residential premise whose annual demand for non- renewable primary energy for heating, ventilation and hot water preparation does not exceed respectively: 62 kWh/m 2 /year for a house or 76 kWh/m 2 /year for a renovated house and 58 kWh/m 2 /year for a residential premise in a multi-family building or 62 kWh/m 2 /year for a residential premise in a single-family building).
Retail loan sales (PLN million)
In 2024, we will have granted a total of PLN 14.6 billion in mortgage loans, 106.6% more than in the previous year. For several years, we have seen an increase in client interest in periodic fixed-rate mortgage loans – in total, we sold PLN 11.0 billion of them in 2024 (+85.2% y/y), and their share of the total mortgage sales structure was 75.5% (84.2% a year earlier). Sales of mortgage loans for an energy-efficient home in 2024 amounted to PLN 1,053.4 million (PLN 288.4 million a year earlier). In 2024, we granted PLN 5.7 billion in cash loans to individuals, up by 21.5% y/y. We sold 94.9% of these loans through the online channel (87.6% in 2023).
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ING Bank Śląski S.A.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Liabilities portfolio towards clients in the segment by product (PLN billion)
The portfolio of on-balance sheet liabilities to retail clients increased by 12.1% y/y to PLN 125.7 billion. Savings accounts recorded the highest y/y growth (+12.7% y/y), to a value of PLN 76.3 billion. Funds held on time deposits increased to PLN 17.5 billion (+12.4% y/y), while funds held on current accounts rose to PLN 31.9 billion (+10.5% y/y). The structure of the retail segment’s balance sheet liability portfolio remained the same as in the previous year, with current accounts accounting for 25%, savings accounts 61% and time deposits 14%.
As part of our off-balance sheet products, we offer, inter alia, brokerage services and broker the sale of funds managed by TFIs. As at 2024 yearend, the savings accumulated in our clients’ brokerage accounts amounted to PLN 7.9 billion (-10.7% y/y) and our clients’ savings accumulated in TFIs amounted to PLN 17.0 billion (+40.6% y/y). Assets worth PLN 6.3 billion represented investments in funds complying with Articles 8 and 9 of the SFDR.
Corporate segment
Within the corporate segment, we serve corporate clients, of whom we had 572.4 thousand as at 2024 yearend, of which 224.1 thousand were primary clients for whom we are the core bank.
Number of clients (thousands)
Commentary on segment performance
The gross result of the corporate segment was lower in 2024 by PLN 586 million (-16.5%) y/y. This deterioration in results was primarily driven by:
higher costs of risk by PLN 412 million (+81.9% y/y), related to the realisation of credit losses in the area of several unrelated strategic clients, which is related to the economic situation and the economic slowdown we observed at the turn of 2023 and 2024, and
lower other income by PLN 93 million,
with an increase in interest income (PLN +180 million y/y) and commission income (PLN +48 million y/y).
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ING Bank Śląski S.A.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Profit and loss account
(PLN million)
2020
2021
2022
2023
2024
y/y
(PLN million)
y/y
(%)
Net interest income
2,102
2,254
3,702
4,392
4,572
+180
+4.1%
Net fee and commission income
1,068
1,287
1,514
1,575
1,623
+48
+3.0%
Other income*
100
51
-75
243
150
-93
-38.3%
Income
3,270
3,592
5,141
6,210
6,345
+135
+2.2%
Operating expenses
-1,324
-1,422
-1,548
-1,746
-1,980
-234
+13.4%
Result before risk costs
1,946
2,170
3,593
4,464
4,365
-99
-2.2%
Risk cost
-489
-237
-443
-503
-915
-412
+81.9%
Bank tax
-285
-313
-400
-413
-488
-75
+18.2%
Gross result
1,172
1,620
2,750
3,548
2,962
-587
-16.5%
*Including share in profit of associates.
Market shares
Balance sheet and key indicators
(PLN billion)
2020
2021
2022
2023
2024
y/y
(PLN billion)
y/y
(%, p.p.)
Total assets
101.7
106.4
120.5
138.6
145.1
+6.5
+4.7%
Receivables from clients (gross)*
70.3
80.0
92.5
93.4
96.1
+2.7
+2.9%
Liabilities to clients
58.8
69.1
84.7
90.1
92.5
+2.4
+2.6%
Loans (gross) to deposits
120%
116%
109%
104%
104%
+0.3 p.p.
Costs to income
40.5%
39.6%
30.1%
28.1%
31.2%
+3.1 p.p.
Costs (including bank tax) to income
49.2%
48.3%
37.9%
34.8%
38.9%
+4.1 p.p.
Cost of risk margin
0.69%
0.32%
0.51%
0.53%
0.96%
+0.4 p.p.
Participation of Stage 3 and POCI
4.41%
3.50%
2.87%
3.43%
5.73%
+2.3 p.p.
*Including loans measured at fair value.
Gross receivables portfolio from clients in the segment by product (PLN billion)
*Including loans measured at fair value.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
As at 2024 yearend, total gross receivables (including loans at fair value) from corporate segment clients increased by 2.9% y/y to PLN 96.1 billion.
The loan portfolio increased by 3.4% y/y (by PLN 2.5 billion to PLN 75.8 billion). The leasing receivables portfolio increased by 1.8% y/y to PLN 13.4 billion (mainly due to the portfolio of large companies and entrepreneurs). In contrast, the value of the factoring portfolio was PLN 6.9 billion, unchanged from last year.
Turnover in factoring and leasing sales (PLN million)
Factoring turnover in 2024 was PLN 63.6 billion, 3.7% lower than in 2023. Turnover in 2024 allowed us to achieve 13.5% market share. In 2024, the number of our factoring clients fell by 15% y/y to 8,700, due to the connection with the cleaning of the portfolio from inactive clients. In 2024, we purchased 4.1 million invoices – 3% less than the previous year.
Sales of leasing products amounted to PLN 6.2 billion in 2024 and was 10.3% lower than in the previous year. Vehicle sales alone amounted to PLN 3.5 billion, down 14.3% on the figure achieved in 2023. Our market share in sales of leasing products was 5.6% in 2024 (6.9% in 2023). The number of leasing clients is 37.3 thousand. (+3.0% y/y).
Portfolio of liabilities to clients in the segment by product (PLN billion)
The funds deposited by our corporate clients as at 2024 yearend amounted to PLN 92.5 billion and were by 2.6% higher than at the end of the previous year.
Current account balances continue to account for the most significant proportion of liabilities to this group of clients (65.9% compared to 67.3% a year earlier). Funds held in current accounts increased by 0.5% y/y to PLN 60.9 billion, with the strongest growth in entrepreneurs’ current accounts (+11.8% y/y) and, to a lesser extent, current accounts of medium-sized and large companies (+2.8% y/y), with strategic clients’ current accounts falling by 10.9%. Funds held in savings accounts increased by 2.9% y/y to PLN 20.0 billion, mainly due to an influx of funds held by entrepreneurs (+15.4% y/y). Term deposits increased by 14.8% y/y, mainly as a result of an increase in term deposits from medium-sized and large companies (+19.7% y/y).
Our market position
We are the fourth bank in Poland based on the size of assets, deposits and receivables from clients – on a consolidated basis at the end of Q4 2024. We were also the fourth largest bank in terms of market capitalisation (PLN 31.4 billion) as at 2024 yearend, with our Price to Book Value ratio being the highest at 1.8x.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Our competitive position
Measure
Nominal
Value date
Market position
Number of clients (million)
5.1
31 December 2024
4
Total assets (PLN billion)
260.4
31 December 2024
4
Client deposit portfolio (PLN billion)
218.1
31 December 2024
4
Gross receivables portfolio from clients (PLN billion)
167.4
31 December 2024
4
Commercial balance (PLN billion)
385.6
31 December 2024
4
Capitalization (PLN billion)
31.4
31 December 2024
4
C/WK ratio
1.8x
31 December 2024*
1
*Calculated as the sum of net profit for 2024 to the average equity (MCFH-adjusted) for the five consecutive quarters ending Q4 2024.
Awards and distinctions
Our daily efforts in offering attractive products and services to our clients, our attention to high quality service and transparent communication, our sustainability measures and practices, and our outstanding commercial and financial performance are recognised by the market. Below please find selected 2024 awards. Their full list is available here .
For overall performance
ING Bank Śląski was among the “Best Banks 2023”, in the 14th edition of the “Golden Banker” ranking, including being named the best bank in social media.
ING Lease (Poland) has received the “Financial Brand of the Year 2024” award. The report looks at companies that have demonstrated a stable market position in 2023, a good image in the financial world and have a range of comprehensive and diverse solutions on offer.
In the Awards for Excellence competition organised by the financial magazine Euromoney, ING Bank Śląski received two awards: Poland’s Best Bank and Poland’s Best Bank For ESG.
ING Lease (Poland) was awarded the Consumer Quality Leader award.
ING Bank Śląski has won two awards in The Best Annual Report 2023. The bank received The Best of the Best award for model financial reporting for the seventh year in a row, as well as a special award for the Best Sustainability Report in the financial sector.
ING Bank Śląski has been awarded the Mediation Friendly Financial Institution distinction.
Brunon Bartkiewicz, President of the Management Board of ING Bank Śląski, was honoured with the “Friend of the Foundation” award by the Professor Zbigniew Religa Foundation for Cardiac Surgery Development.
ING Bank Śląski was honoured by the National Securities Depository for its long-standing commitment to the development of the institution.
ING Lease (Poland) was recognised in the “Leaders of Sustainable Development” report by Gazeta Finansowa.
For quality client service and innovation
Brunon Bartkiewicz, President of the Management Board of ING Bank Śląski, was honoured with the Innovation Award at the Future of Payments competition in the category “Ahead of the Future. Visionary”. The award in this category aims to recognise an individual who has had a significant impact on shaping and developing the payments market through their vision, leadership and innovative approach.
ING Lease (Poland) has been awarded the Best Product label for SMEs. Gazeta Finansowa honoured “Leasing na start” with the title Turbines of the Polish Economy. “Leasing for start-up” is an offer aimed at micro, small and medium-sized companies.
SAIO, for the third consecutive year, has been recognised in the global ranking of leading industry suppliers – Everest Group’s “South African Products PEAK Matrix® Assessment 2024”. SAIO is the only company from Poland to be included in this prestigious list. This year, SAIO was classified in the “Major Contender” category and, in addition, was awarded “Star Performer” for the second year in a row.
ING Bank Śląski was awarded for the fastest and smoothest remote onboarding for companies in the CEE region.
ING Bank Śląski won first place and the title of Best Technology Lending Bank in the Innovation Finance Leaders Award ranking, prepared by the Polish Bank Association and Bank Gospodarstwa Krajowego on the occasion of Poland’s 20th anniversary in the European Union. The bank was included in the Top Five Banks of the 20th anniversary of Technology Credit.
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ING Bank Śląski S.A.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
For ESG activities and practices
ING Bank Śląski was awarded, in addition to the title of Poland’s Best Bank awarded for the sixth time, the title of Poland’s Best Bank for ESG in the Awards for Excellence competition, which is organised by the financial magazine Euromoney.
ING Bank Śląski received the Eagles of the Rzeczpospolita for its ESG-related activities. The judging panel assessed companies’ commitment to sustainability and green transformation, taking into account climate issues, wages, employee and environmental safety and respect for consumer rights.
ING Bank Śląski was awarded the Green and Silver ESG Letter by Polityka. For the 13th time, the Polityka weekly, Deloitte and the Responsible Business Forum have honoured Polish leaders committed to sustainable development.
ING Bank Śląski has been awarded a triple distinction in the ESG Ranking. Responsible Management. This is the 18th edition of the Ranking (until now the Ranking of Responsible Companies), organised by the Kozminski Business Hub at Kozminski University. The Bank won first place in the “Governance” area and third place overall and in the “Banking, financial and insurance sector” industry ranking.
ING Bank Śląski received an award in the ESG Innovator competition in the “S” category for its role as a person of trust.
ING Lease (Poland) received the “ESG Company of the Year 2024” award. The company was recognised for its contribution to sustainability and social responsibility, as well as for its effective ESG strategy and activities.
ING Bank Śląski was awarded the top prize in the 2024 Sustainability Reports competition for the best sustainability report and integrated report in the financial sector.
ING Bank Śląski has been shortlisted for the Diversity IN Check, a list of employers most advanced in diversity management and inclusion in Poland.
ING Bank Śląski has scored the maximum 100 points out of a possible 100 in the 4th edition of a ranking of financial institutions that care about professional and social equality for LGBT+ people. The ranking is organised by cashless.pl.
A report by the Responsible Business Forum singled out 5 good practices of ING Bank Śląski. The annually published report “Responsible Business in Poland. Good Practices” is the largest overview of CSR and sustainability
initiatives in Poland. The launch took place on 16 April 2024 at the ESG Idea Fair conference, during which the 5- year partnership anniversary with our bank was recognised.
For communication with clients, the market and employees
ING Bank Śląski took first place in the Banks and Financial Services category and is in the TOP 10 of all companies included in Poland’s Best Employers 2024 ranking. The compilation compiled by Forbes Poland and Statista is a list of 300 companies operating in Poland whose outstanding HR achievements have been honoured with the title of best employer.
ING Bank Śląski received a number of awards for its “ING City” project at the MIXX Awards Europe. The bank was recognised in the categories: Gold in the “In-Gaming Campaign” category; Silver in the “Influencer Marketing Campaign” category; Silver in the “Virtual Augmented Reality or New Technologies Campaign” category.
ING Bank Śląski was awarded a silver sword in Poland’s biggest creativity competition, KTR, for its song “Nie daj się wkręcić w sieci”, recorded in ING City in Roblox.
ING Bank Śląski came first in the Effie 25th Anniversary Company Ranking in Poland. For the effectiveness of its marketing activities, it has been awarded 39 times over the years in the competition.
ING Bank Śląski won four awards in this year’s IAB MIXX Awards. The bank received awards in all categories in which it received nominations.
ING Bank Śląski received two silver awards in the “Golden Clips” competition.
ING Bank Śląski received two awards in the Polish Project Excellence Award and the Polish PMO Award competitions.
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ING Bank Śląski S.A.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Technological development
SDG 9
For ING, 2024 was a period of dynamic technological transformation that underpinned our operations and growth strategy. Continuing with our mission, we have focused on building a modern technological architecture that not only supports clients, but above all provides them with an excellent user experience and reduces the time to market for products and improvements.
We are continuing to move our applications, solutions and data to the cloud. This investment in state-of-the-art solutions is not only to bring IT environments in line with changing technology standards, but also to maintain performance and availability at the level our clients expect. Far-reaching digitalisation requires not only changes in how we function as a company, but also responsibility for our clients, their data and their security. Therefore, we strive to support our clients and employees by offering them safe and tailor-made solutions.
Digital transformation and the public cloud are a priority for our activities
Our transformation is defined by the use of modern technology and the cloud first principle. With this approach, we migrated the entire integration layer to the Google Cloud Platform (GCP) public cloud. The public cloud has significantly improved our flexibility and operational scalability.
The technological transformation that we started in previous years not only allows us to rebuild the entire architecture of the bank, but above all allows us to build a data-driven culture. This, in turn, is essential to meet the next challenges such as the development of artificial intelligence algorithms. With its holistic approach to technology, ING Bank Śląski can be a pioneer and a role model for other banks. The redesign of the architecture is being carried out in a way that is completely transparent to our clients, so that they can use banking when they need it.
The consistent implementation of our strategy already allows us to build products that provide full personalisation. This approach allows our clients to tailor products to their individual needs and preferences. An additional advantage associated with technological transformation is the ability to implement new business ideas more quickly, which in turn leads to greater satisfaction for our clients.
Supporting business needs
We are working on new processes and solutions to speed up the processes of offering products such as a loan or a mortgage loan to clients.
Bearing in mind the specific needs of clients affected by this year’s flooding, we have adapted the applications and processes associated with the products they use.
Looking to the future, in turn, we have implemented a new onboarding process and are expanding Moje ING functionality for the youngest.
In the business client area, we implemented an integration to improve communication via chat or video connection. Upgrades to the main financial markets applications have also been completed.
We modernise technology and share knowledge
In 2024, we were active on many levels:
Cloud computing – while working on expanding the catalogue of cloud services and the new operating model, we moved more applications to the cloud in a way that was not noticeable to clients (an example of which is the ING Business application). Migration to the GCP public cloud of applications (including an integration layer for the central system) built in a microservice architecture enable dynamic scaling as required. With the public cloud, applications use the minimum amount of resources needed to function properly.
Infrastructure modernisation – being aware of the process ahead of us, we also take care of the infrastructure we already have by updating solutions such as the virtual machine management system or the file transfer application, among others.
Regulatory changes – changing regulations (DORA 1 , WCAG 2 ) have reinforced our conviction that ongoing and planned activities related to improving accessibility or adapting applications to the needs of people with disabilities are right and necessary. Due to the DORA regulation, which took effect at the beginning of 2025, we have been adapting the processes in place and the way we operate. And with an eye on the CBPR+ (Cross-border Payments and Reporting Plus ) specification and how ISO 20022 3 will affect transaction payment and cash reporting issues, we have made changes and refactored the applications that support these processes.
1 DORA - Digital Operational Resilience Act, Regulations on the operational digital resilience of the financial sector.
2 WCAG - Web Content Accessibility Guidelines
3 ISO 20022 - is an ISO standard (International Standards Organization) regarding electronic data exchange between financial institutions.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
AI – with a view to the AI ACT, which was under development on the side of the European institutions and published in the second half of 2024, we were active in the area of AI and Machine Learning. We have conducted communication campaigns to share knowledge about this topic, not only among employees but also in the surrounding banking and academic community. We met students at several universities and polytechnics, as well as through the “Exempt from Theory” programme. Our specialists have given several lectures at industry events, for external institutions and business partners. In turn, several events (such as “AI Trek”, “Spark the Future” and “Power of Data”) were held for employees, where they could not only hear about news from the world of AI, but also discuss and work together on ideas for applying these technologies to bank products and processes. In addition to this, we organised in-house training programmes (“AI Academy”) with as many as 331 participants from different areas of our organisation. Thanks to these actions, we have collectively implemented almost 30 AI&DS (Data Solutions) initiatives with recipients in 5 different divisions of the bank.
Our plans for 2025
In 2025, in terms of technology and IT infrastructure management activities, we plan:
activities around SRE (Site Reliability Engineering ) and further work to keep the application as available as possible,
further migration of applications to the cloud and further development of services to support the operation of products delivered and developed using cloud technology, as part of the implementation of the bank’s digital and technology transformation strategy,
activities to democratise data access, migrate data warehouses and implement further solutions and models using AI and ML,
further architectural transformation towards the use of events, micro-services and APIs ,
paradigm shifts in the assessment of IT risks,
further automation of after-sales processes in the STP (Straight-through processing ) model, using AI tools and the cloud.
Moje ING
The Moje ING mobile app is the main channel for our clients to interact with the bank. It is already used by more than 2.9 million clients. In 2024, clients logged into Moje ING more than one billion times (88% on the mobile app)
and made around 651 million transfers. We care about the performance and reliability of our systems. Moje ING’s availability as at 2024 yearend was 99.94% (99.95% a year earlier).
Moje ING for children
For children under 6 years of age, a parent/guardian can open an Open Savings Account in PLN or a foreign currency (EUR, USD, GBP). The process for the parent/guardian is available from the Offer in Moje ING.
For children aged 6 and over, we have made the Moje ING app available in an age-appropriate version with a limited range of functions. The functionalities available for a child aged 6-12 years are primarily:
view balances and details of products held,
access to transaction history,
contactless payments with a prepaid card on an Android phone,
requests for money, standard transfers and BLIK phone transfers (the child will not complete the transfer himself/herself, he/she sends a request for such transfers to the parent, who accepts or rejects it),
practising savings skills with the Mobi Account or using savings targets linked to the Open Savings Account for your child.
Once a child reaches the age of 13, they will automatically gain access to additional functionality and products in the app.
In addition, for children aged 13 to 17, a parent/guardian can set up a Smart Saver without leaving home. As part of the process, the parent/guardian selects the method of saving on behalf of the child: rounding up the transaction amount or a percentage of the transaction amount, and indicates the account (Savings and Settlement Account) from which the money will be deposited into the Smart Saver.
The Mobi account with the Moje ING app extends our offer to young people, supports financial education and enables the first steps in learning to spend and save. Through the app, children gain practical mobile bank account skills and learn money management in a safe way. And all of this under the watchful eye of a parent who, from the Parent Panel in their app, has control over their child’s spending and watches over their safety.
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ING Bank Śląski S.A.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
ING phone verification
We have launched a service called “Phone Verification with ING”, which allows you to check during a call whether a bank employee is calling. The tool shows the ING employee’s details or a warning that the phone is suspicious. This allows the client to make sure they are talking to the right person and to rule out fraud (so-called spoofing). If the client uses the mobile app, when contacted by phone from the bank, they receive a PUSH notification that a bank employee has just called. When the client clicks on the PUSH message, they are redirected to the app, where they will find information about the ING employee calling. In this way, the client can confirm the authenticity of the call from the bank during the call. In addition, in the Security and Help and Contact sections, the client can check at any time if the bank is calling him or her, or trigger a check by using a button on the page before logging into the Moje ING mobile app.
BIK sectoral behavioural verification
We have connected Moje ING to BIK’s behavioural verification service, which is a sector-specific solution that allows us to build client behavioural models based on data collected from different banks – where the client has consented. The solution provides additional security against fraud and will help verify that it is definitely the client using their banking.
Video with a specialist on a loan offer
For our clients, we have launched a Video Click to Call service, enabling an instant connection on Video with a specialist to discuss a loan offer. The solution is an alternative option for clients to meet with a specialist at the Meeting Place. It allows clients to find out more quickly about the offer. The video call is in the form of an assist in Moje ING and consists of supporting the client in the purchase process. The client can connect immediately by video with a specialist or make an appointment at a time of their choosing.
Renewed mobile onboarding process
We have simplified the way in which an account is set up on the mobile app so that the whole process is even quicker and easier from the client’s perspective. We have introduced a new UX standard that avoids extensive and complicated screens in the process. Such a process is clearer and quicker to click through. Thanks to the simplified Face&ID method, the client will confirm his or her identity in a friendly manner. If we need additional information from clients, we ask follow-up questions so that most can open an account without visiting a bank branch. Finally, once the application is submitted, clients immediately receive a login so they can activate the app and start using Moje ING.
New presentation of client products in Moje ING
Our clients have gained a new view of the details of the funds and investment portfolios – among other things, we have added a risk chart of the funds included in the portfolio, for the IKE and IKZE investment portfolio we have detailed the limits available within the pension product, we have also added a Q&A section and provided clients with new investment profile information for the investment funds and brokerage account (so clients will be able to check at any time what investment profile they have and what it is).
Our clients have gained a new IKZE savings IKZE details view – we have added, inter alia, a chart showing the total of contributions made by the client in a given calendar year and the possibility to submit a “Declaration of non- agricultural activity” (after submitting such a declaration, the client will see in the IKZE savings IKZE details the increased IKZE contribution limit for a given year).
Our clients have gained a new view of the Active Account details – among other things, we have drawn clients’ attention to the conditions that allow free use of the Active Account, such as having assets of min. PLN 200,000 or PLN 100,000 of investment or total receipts above PLN 10,000.
Our clients have gained a new view of their credit card details, allowing them to manage both their credit card and supplementary card independently, e.g. in terms of changing transaction limits or temporarily blocking cards, and we have also provided the client with all the necessary information about card repayment deadlines and related fees.
Changes in tools for managing day-to-day finances
In 2024, we continued to develop the area of daily financial management.
In the Expense Analysis and in the area of scheduling and managing recurring payments, we have added several usability improvements, making the use more intuitive, and we have also added icons to the list of Upcoming Payments and Subscriptions that refer to the logos of service providers, making it easier to recognise automatic card payments for services and subscriptions.
In the BLIK area, we have rebuilt the processes to meet the requirements for people with impairments (EAA/WCAG) and raised the maximum available limits for BLIK phone transfers and transfers at someone else’s request for adult clients.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
We have streamlined the process of communicating tax settlements from investments on the stock exchange. Now, our clients get a PUSH message as soon as the year ends, informing them whether they will receive their personal income tax information. Once the tax return is available, the client receives a PUSH message plus a message in Moje ING with a link directly to their document. This keeps clients informed and allows them to easily control their stock market tax returns.
We have implemented a process to waive protection insurance for cash loans and mortgage loans. In addition, in the cash loan application process, we have implemented the functionality of naming a primary and secondary beneficiary to pay any excess.
The needs and expectations of our clients inspired the implementation of a new tool called “Financial Month”. From October 2024, we have provided clients with a single place in Moje ING where they can manage their finances in a monthly rhythm that is natural to them. We show clients, inter alia, how much money they have in their chosen accounts, how much the pending charges will be and how much money they will have left after making these payments. In addition, clients have access to a summary of their receipts and expenditure and the categories in which they spend the most.
Development of INGa’s voicebot competence
In 2024, we have implemented new ING competences from the subject areas most frequently raised by clients during phone calls. These included cards, BLIK, Moje ING, credit products or savings. We also actively reacted to current events – we prepared information on: forms of support for flood victims, the possibility of reserving the Polish National Identification Number (PESEL), news in the Moje ING offer for minor clients, or the next editions of government programmes (300+ and 800+).
We have also provided automatic verification of the caller before switching to a contact centre specialist. The result of INGa’s verification is transferred to the specialist’s application. In doing so, we are influencing greater accessibility to our specialists and improving the experience of clients, who can go straight to dealing with the issue they are calling about, which they have not dealt with in a self-service manner with Inga.
In part of its self-service competence, INGa offers the possibility to send a PUSH notification to the client with a link to a place in the Moje ING mobile app, so that the client can complete the issue he or she wanted to deal with on his or her own in the app by calling the bank. This solution helps to increase awareness of the possibilities offered by the mobile app and reduces the time it takes for the client to complete their instruction.
Enhanced features for entrepreneurs in Moje ING
We have made further processes available to sole trader clients in Moje ING. The client can change the loan repayment account or the instalment payment day himself or herself online, and shorten the loan period if he or she has previously overpaid the loan (in this case, the process is for the time being only available to clients with a product not secured by a BGK guarantee). In addition, we have redesigned the loan repayment and overpayment process to make it more transparent for the client. As part of the new visualisation, we have also added a lot of useful information for the client about the product and related services. The client can contextually navigate from one place to the process of interest. He or she will also see important credit events, such as the need to deliver a document to the bank or a reminder of a loan default. The information presented is personalised for each product and client situation.
Multi-currency cards
In Moje ING for entrepreneurs for cards issued to company accounts in PLN (Visa Business contactless and MasterCard Business contactless), we have introduced the possibility of using a multi-currency feature. This allows entrepreneurs to pay with these cards abroad in EUR, GBP and USD without additional currency conversions and commissions. Once currency accounts in EUR, GBP or USD have been ’linked’ to the cards, payments will be processed directly from the currency accounts.
Cards without plastic
For entrepreneurs in Moje ING (and corporate clients in ING Business), we have made it possible to order cards without plastic. It is a digital version of the traditional account payment card. The plastic-free card is available for activation immediately after ordering, without waiting for delivery of the physical card. Clients can add the card to Apple Pay or Google Pay immediately after activation. It works like any traditional card, allowing payments online, in stationary shops and withdrawals from contactless ATMs. Clients can exchange the plastic-free card for a physical card at any time. Until the physical card is activated, the digital version remains active.
ING Business
The online banking platform for corporate clients ING Business includes: a browser-based version, native smartphone apps and an H2H channel – ING WebService. We are successively working on further improvements and updates and making new solutions available to clients. ING Business availability was 99.89% as at 2024 yearend (99.91% a year earlier).
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Changes to the app
In 2024, we focused on changes in several areas of the mobile app such as:
New loans module – clients can view their loans in the app. In the brand-new “Loans” tab, they will now find all the information they need: a list of their loan accounts, a repayment schedule, the ability to download statements, an overview of debits and credits on the account. With this facility, decision-makers will have an even easier view of the company’s finances.
New view for cards – on the main card view, we have made card details such as limits or balance available to clients. Additionally, in June 2024, we implemented the ability to add cards directly from the app to the Apple Pay wallet.
New section “My Data” – the “My Profile” tab has been expanded to include a new “My Data” function. From the new screen, the user will be able to manage the data that the bank has registered in the user’s individual file (KKI). The data update processes concern: address data, mother’s family name and identity document. In addition, in this section we have made it possible to change the telephone number for authorisation and the email address for password reset.
LiveBank – we implemented LiveBank at ING Business in early 2024. It is a communication tool that allows users to interact with the bank via chat, audio and video. The tool makes it significantly easier to get the information clients need and shortens the conversation time. Anyone connecting to us via LiveBank is authorised by the system so that they do not have to answer a large number of questions to verify their identity.
Integration of the companies’ product platforms – we released the ING Financing Invoices application and the ING Lease client portal. This means that our clients can easily, without additional authorisation, switch from the online banking system to these applications. With this integration, clients can handle all their products in ING Business after one login.
Antispoofing – on 15 November 2024, we made phone verification with ING available in ING Business. In this way, we have consistently improved the safety and comfort of our clients during phone calls. This solution has been in place for quite some time in Moje ING for retail clients and one-person businesses. Now such a solution is also available to business clients. Phone verification from ING allows the client to confirm the identity of the person claiming to be a bank employee during the call. The client will see a notification in online banking or in the app with the employee’s name.
Safety zone – we have made the zone familiar from the browser-based version of the ING Business system available in the mobile app. Here, clients will find the most important and up-to-date information and advice on safe banking. As part of the work on the navigation and design of the app, we have redesigned the app’s start screen to make it simpler and easier to read, shown the funds available on the account and recent operations, and allowed the client to choose which account they want to see on the dashboard.
Mobile authorisation of applications via PUSH – we have made it possible for our clients to authorise applications made in online banking directly in the mobile app. This means fewer text messages and even more convenience in managing company matters.
Notifications – we have provided clients with a new version of PUSH account event information notifications. These have replaced the existing short text message and email and other banking notifications. Currently, PUSH notifications are the only and free form of notification available to clients. To take advantage of the new notifications, it is necessary to update the mobile app to the latest version 4.9.0. With our clients’ needs in mind, we have included the following notifications in PUSH form:
transfer information: debits/credits and rejected transfers,
selected cantor transactions,
card transaction information, set up from within the ING Business Cards module,
statuses of completed and rejected requests,
information on documents signed electronically.
We improve develop and support
Retail segment
Mortgage loan for energy-efficient real estate modernisation
In Q3 2024, we offered clients a special offer for a mortgage for energy-efficient real estate modernisation. It aims to support the fight against climate change by funding energy-efficient solutions. In order to take advantage of the offer, an energy performance certificate must be attached to the loan application. The initial (input) value of non- renewable primary energy (EP) is recorded in the loan agreement. The client then produces a further certificate after an agreed construction period (after the specified refurbishment/modernisation works have been carried out). It
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
should specify that the real estate’s EP demand has improved by a minimum of 30% from the original value and does not exceed 76 kWh/m 2 /year.
Loan for better
We developed the promotional offer “Loan for Better”, supporting clients in their efforts to tackle climate change by financing energy-efficient solutions. If the loan amount is at least PLN 100,000 and a minimum of 70% of this amount is spent by the client on the purchase of an electric car, then the client can gain up to PLN 2,000 in rewards. All they need to do is to submit an invoice confirming the purchase of an electric car up to three months after the conclusion of the loan agreement and repay the loan on time for six months without making any overpayments or full repayments before the prize disbursement date, and fulfil the additional conditions indicated in the terms and conditions.
Assistance tools for those affected by floods
From 15 October until the end of December 2024, clients who met the eligibility criteria, i.e. suffered property damage to the real estate securing the loan or lost their job (main source of income) as a result of the flood or its immediate aftermath, could apply at Moje ING for deferred repayment of loans. During the deferral period, interest was charged for the deferral period and the repayment schedule was extended (even beyond the suspension period). The client could choose the type of deferral: only the capital part of the instalment or the entire capital- interest instalment for a period of 1 to 3 months.
BIK credit disclaimer
Biuro Informacji Kredytowej S.A. (BIK) offers a credit reservation service for individual clients (Credit Freeze ). Clients who have an active credit disclaimer will not sign a loan agreement with a bank that has partnered with the BIK for this service. Our bank is one such bank. Before signing a loan agreement in the consumer loan process, we verify the client’s details. If the client has Credit Freeze active, we will not sign an agreement with them. We implemented Credit Freeze before the Polish National Identification Number verification in the reservations database was even implemented. As clients continue to actively use the BIK credit disclaimer service, we continue to verify data in the BIK disclaimer database as part of our credit process. By doing so, we strengthen the anti-fraud protection of our clients.
Withholding of the Polish National Identification Number
In the credit processes for individual clients, we have implemented the verification of the Polish National Identification Number in the government reservation database. In accordance with statutory requirements from 1 June 2024, the Polish National Identification Number of each client is verified in the reservations database before signing a loan agreement or increasing the amount of an existing commitment. If the client’s Polish National Identification Number is reserved at the time of signing, the contract will not be signed. By doing so, we are fulfilling a statutory obligation and protecting the client from being defrauded and our bank from losses resulting from these defrauds.
Multi-currency card for teenagers
From July 2024, our teenage clients can use the Visa multi-currency card. It allows young people to pay conveniently and without additional currency conversion fees with the card in foreign currencies such as EUR, GBP and USD. We have enabled the service for clients between the ages of 13 and 17, simply by having a parent set up a currency account for their child on their app. Since the launch of the feature for teenagers, up to 66% have enabled the multi-currency function for their card.
Promotion in partnership with Medicover Sport
We have prepared a promotion dedicated to Young clients, aged 18-26. New Mobi account holders who open a Mobi account on the Moje ING app using the selfie method can benefit from a Medicover sports pass at an attractive price of PLN 20 per month after meeting the conditions of the promotion. Young people can gain as much as PLN 828 in rewards per year. Offering a sports pass for a personal account is an innovative solution that goes beyond classic banking.
Change in special offers: Open Savings Account in “Bonus na start”, Open Savings Account in “Bonus” and Open Savings Account in “Bonus MAX”
The aim of the change in special offers: Open Savings Account in “Bonus na start”, Open Savings Account in Bonus and “Open Savings Account” in Bonus MAX were to make special offers more attractive to clients actively banking with ING. The change consisted of implementing additional conditions into the special offer, necessary for the client to meet in order to receive the bonus interest rate. The new additional terms and conditions promote clients actively banking with ING – clients for whom ING is the primary bank.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Deposit with Start-up Fund
We have introduced a new version of the Deposit with Fund. A new variant, the Start Fund Deposit, is a solution for those who are just entering the world of investments. The principles of the solution are the same as for a regular Fund Deposit, and what differs is the proportion of the amounts that are invested. Under the Start Fund Deposit, the client pays 70% into the deposit and 30% is invested in a fund of their choice.
Promotion of Deposit with Model Portfolio
As part of our investment advisory service, we offered a Model Portfolio Deposit promotion to Private Banking clients. The offer is dedicated to clients looking to diversify their funds. Under the product, the client deposits 30% of the funds on deposit and invests 70% in a model portfolio, which includes investment funds selected by the experts of the Investment Competence Centre. The selection of an appropriate model portfolio is a reflection of the client’s objectives, needs and financial situation.
Corporate segment
EU technology loans and green loan
In 2024, ING Bank Śląski S.A. supported entrepreneurs applying for EU subsidies under further competitions launched from aid programmes. ING Bank Śląski S.A. signed a total of 53 EU loan agreements or issued promises of EU loans to finance projects with a total volume of over PLN 462 million.
The bank also holds a leading position in terms of promises issued for a green loan. In 2024, as part of the next call for proposals, we issued 145 promises and concluded conditional loan agreements for a total of nearly PLN 614 million. The green loan finances projects that aim to improve energy efficiency by upgrading a company’s existing infrastructure. The support provided will thus facilitate the energy transformation of companies.
ESG-linked financing
Acting in line with our organisation’s strategic objectives, we support the economy in its transformation towards more sustainable, sustainable and efficient business models. We make it easier for companies to invest in sustainability by offering them financing under:
“Sustainability Loan” at preferential pricing conditions – no margin for the first 13 months of financing. Among other things, the loan covers investments in renewable energy sources;
the special offer “Leasing to support sustainable development – 2 instalments for 0 PLN “, which is dedicated to investments in the financing of fixed assets for the achievement of sustainable development goals;
and funding:
electric and hydrogen cars and vans, as well as electric motorbikes and scooters. A particular benefit of this offer is the 0% commission and PLN 0 for the registration of such vehicles;
photovoltaic panels.
Assistance tools for those affected by floods
After the floods, our clients found themselves in a very difficult situation, which is why we decided that clients with a Direct Account for Business who are based in an area affected by a natural disaster will not be charged for account maintenance and online transfers in PLN domestically and for foreign currency transfers in EUR to SEPA countries online from September to November 2024.
In addition, we have prepared the possibility of requesting a loan repayment grace period under the terms agreed in the Non-Statutory Moratorium on Flood Situations, and we have temporarily suspended the debt collection activities carried out against clients with delayed loan repayments from flooded areas.
New BGK guarantees
In 2024, we continued the De Minimis Guarantee programme, which was very popular with clients. Guarantee sales in 2024 exceeded PLN 6.2 billion (vs. PLN 9.5 billion in 2023) and thus, with total sales of these guarantees of PLN 41.7 billion (from 2013 onwards), we are ranked 2nd in the ranking of all banks with this in their offering.
We have also implemented new guarantee instruments such as:
Biznesmax Plus Guarantee – an instrument to support the development of innovative companies and to increase the global innovation potential of the sector. In total, we have provided PLN 213.2 million of this guarantee in 2024.
Ekomax Guarantee – supporting energy efficiency improvements for companies and scaling up the energy transition. The volume of transactions granted, since the implementation of the product in April 2024, has amounted to almost PLN 6 million.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Investmax guarantee – the aim of this facility is to support micro-entrepreneurs and SMEs. Investmax with the European Investment Fund’s counter-guarantee was implemented in the second half of 2024 and by the end of the year its volume exceeded PLN 36.8 million. The guarantee is an alternative for clients who have exhausted the de minimis aid limit.
We have also started cooperation with BGK in the area of projects related to the defence of our country.
Start-up solutions for ING clients
The rising cost of running your own business, especially in the first year, is challenging. ING makes it easy for people who decide to start their own business to get started and supports them with solutions that enable them to successfully grow without unnecessary start-up costs. To make our offer competitive, we support it with additional benefits for clients:
every new client who opens a Direct Business Account will receive free account maintenance and transfers (domestic and SEPA) for 24 months,
for card payments on the phone, clients will receive a PLN 1,000 bonus (10% cashback in the “Profit with Mastercard on the phone” promotion),
for funds up to PLN 10 million, clients will receive an account interest rate of 6%.
Housing trust account
We have provided developers in the ING Business system with an electronic application to settle funds from the virtual account. With this application, clients can:
send to the bank the notarial deed of the agreement transferring ownership rights to the purchaser in order to settle the final stage of the investment or
submit an instruction to transfer erroneous transactions from the virtual account.
The online application is the primary means of sending notarial deeds for the withdrawal of funds from the virtual account from the final stage of the investment, as well as submitting any instructions for the reallocation of funds from the virtual account. In doing so, we have simplified the handling of development accounts and streamlined their handling on the operational side of the bank.
Offer for housing communities
From July 2024, communities already served by a bank, as well as those that have not previously had a relationship with a bank, can apply for a loan online. For existing clients – housing associations – the investment loan application is available at ING Business, and for the rest of the group, it is available on the bank’s website, in the section for housing associations. An initial credit decision is made automatically on the basis of the data entered by the client, and we issue the final credit decision after verification of the documents provided by the community.
In addition, we have provided an online loan calculator for housing associations. The community itself can calculate the instalment and check creditworthiness and choose the most favourable loan offer for itself, even before completing the loan application.
Clients sign the loan agreement at ING Business. The signing of an agreement by a new client is possible after undergoing the onboarding process and opening a settlement account and online banking system. At the same time as implementing the new process, we have made changes to the offer for housing associations by increasing the maximum amount of financing to PLN 4 million and extending the loan period to 20 years. No own contribution is required for a loan of up to PLN 2 million, and above this amount it is required at 10% of the investment. From the end of August 2024, communities can also apply for a loan on the mobile app.
Development of the imoje payment gateway
In 2024, we actively worked on the development of the imoje payment gateway. Among other things, we have standardised and refined the presentation of transaction reject codes on our screen (in cases where, for example, the amount limit has been exceeded or the card has expired), we have introduced the possibility to handle settlement for new currencies – the Swedish krona and the Bulgarian lev, and we have implemented a new payment method – BLIK I Pay Later – which allows for deferring payment for online purchases by up to 30 days.
Product innovations linked to e-commerce
In 2024, we have provided the opportunity to integrate with the largest platforms serving the e-commerce sector: Allegro, Shoper, Baselinker, Magento2, PrestaShop or WooCommerce. We have given clients with international sales the option to invoice foreign clients under the VAT OSS procedure. A special document type will make it easier for them to account for sales.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
New features and improvements to the eTerminal app
The eTerminal app, allows payments to be accepted on mobile devices such as phones and tablets. It is offered on a “pay as you use” pricing model. With no fees for activation and use of the app, the only cost is the commission on transactions made. In addition, the app is available as part of the Cashless Poland programme and, in addition, ING provides two months of free use.
Among other things, users of the application can: log in using biometric data – a fingerprint, change the interface language to English, integrate eTerminal with the Virtual Fiscal Cash Register and sales systems, describe the transaction with additional data. In 2024, we have also introduced a new method of registering for the eTerminal app using a QR code and a simplified payment process thanks to the abandonment of the Pinpad app. These changes have significantly simplified the processes involved in using the eTerminal app.
Client experience
Client experience management
Invariably, our clients’ experience when banking is very important to us. We make sure that every moment spent with us is special and effortless for our clients. That is why we focus our efforts on ensuring that the products and services we provide are characterised by our differentiators – easy, personal, relevant, instant . By doing so, we also support the bank’s strategy.
We learn about all that is important to our clients from client voices, findings from research with clients and various Service Design tools. Key for us are the journey maps for the various products, of which we already have more than 180. It is from these that we read what problems and needs our clients have and what emotions they experience when using our products. In this way, we look broadly and react, i.e. change, improve and redesign.
We actively involve employees from different areas in designing solutions for our clients at the annual CX Day.
Retail client
In 2024, we have streamlined the way our employees work on designing solutions for clients. When designing them, we pay attention to the preparation stage of solution proposals, which are developed in a creative way but preceded by in-depth business and client analyses. This creates solutions respond to the needs of both clients and the bank. The last CX Day also focused on preparing a variety of proposals for our clients. This event was attended by more
than 650 employees who conducted more than 174 tests/interviews with our clients. As a result, the teams came up with 29 ideas.
Business clients
We invariably simplify processes and design solutions and products with the aim of providing the best possible experience for our business clients. We monitor satisfaction with our services through an extensive NPS survey programme. Thanks to the digitalisation of many processes, clients can complete most matters completely remotely. We design and use effective tools for personalised communication with clients. They allow us to develop remote sales. We take advantage of the opportunities created by millions of user visits to our systems. For entrepreneurs and those looking to start their own business, we continuously develop Firmove.pl , a platform that
provides expert knowledge and useful tools to help successfully establish and run a business. Issues ranging from vetting a business idea to financing and accounting to business solutions to support sustainability are available. More than 750 articles, videos, podcasts and document templates await clients on Firmove.pl, as well as useful tools (e.g. calculators, e-books and an entrepreneur’s calendar) to support strategic decision-making or the introduction of ESG in the company. As at 2024 yearend, the platform had more than 600,000 unique visitors.
We are constantly improving the process of opening the first account for corporate clients. Our priority is to create a positive client experience during onboarding. Although the process involves a comprehensive AML/ KYC analysis of the client, it is highly automated. The client can remotely apply for an account, make a remote identification (video verification) and sign the account agreement. Thanks to the measures taken, 70% of accounts for sole traders are opened in less than an hour. The remote process is also available for partnerships and limited liability companies and housing associations. The process is positively evaluated by clients and was rated as the best onboarding process for SME entities in Southern and Eastern Europe in November 2024 (the Best Digital Solutions for SMEs in the CEE region ranking).
At this year’s CX Day in the area of corporate banking, the focus was on finding solutions to increase the bank’s chances of attracting new business clients. More than 80 ideas were generated in this thematic area.
Net Promoter Score
We consistently develop our products and services to best meet client expectations and dynamic market developments. Clients are a key resource for us – their feedback helps us see both strengths and areas for improvement.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
The NPS (Net Promoter Score) is one of the basic tools that allows us to measure client satisfaction and their willingness to recommend our bank. By regularly monitoring this indicator, we can assess the effectiveness of our actions, compare ourselves with other banks and set directions for development. To ensure that the results are reliable, we rely on a consistent methodology across industry surveys.
We enrich the NPS surveys with open-ended questions that allow clients to indicate specific reasons for their ratings.
We combine the extracted data with other sources, including client voice analysis, using artificial intelligence tools. We analyse this information by client relationship, contact channels and products, allowing us to better understand the context and take effective action.
As part of our activities, we are also reinforcing a client-focused attitude throughout the organisation. We organise initiatives such as CX Day to engage employees and help build a client-focused culture. Through such activities, we develop a shared awareness of the importance of client experience in every aspect of our business.
Retail segment
In 2024, we have seen an increase in NPS among retail clients. The annual average value reached 31 points, compared to 29 points in 2023.
Relational NPS in the retail client area
This result allowed us to maintain our position as the leader in the statements and maintain a 17-point lead over the market average and an eight-point lead over the next bank.
Relational NPS in the retail client area (main relationship)
The data comes from the independently syndicated NPS relational benchmark survey (Bermuda project), conducted by research agency Minds & Roses. The survey was conducted using the CATI method and covers a representative group of Polish bank clients aged 15 and over.
We are constantly developing our research by analysing more and more points of contact between clients and the bank. We are systematically increasing the number of surveys, enabling clients to evaluate completed processes. We aim to cover all key processes with research, which will allow us to identify areas for improvement even more precisely and make the necessary improvements.
We are also innovating in satisfaction surveys – engaging our voicebot (INGa) to conduct surveys during client conversations. This allows us to gather feedback in real time and better understand client needs.
Digital client experience remains a key area of our work. We are focusing on the development of the Moje ING system, while maintaining a high standard of service in stationary outlets. We prioritise digital interaction research in our development strategy, but nurturing direct contact with clients remains equally important.
In 2024, we also conducted Mystery Shopper surveys to verify the level of service standards in our meeting points – stationary outlets and ING Express outlets. The results provided valuable information to support our efforts to further improve service quality.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Constant analysis of the results of the bank rankings shows that our activities are highly rated by clients. Leading positions in market rankings reinforce our conviction that the chosen strategy for development and service quality is yielding tangible results.
Corporate segment
In 2024, we have maintained our position as a leader in the ranking for serving entrepreneurs and medium-sized companies. The NPS ratios we achieved in all Business Banking segments were well above the market average.
In the group of entrepreneurs – as in 2023 and 2022 – the NPS index was 42 points. The result achieved was 17 points higher than the market benchmark and determined the bank’s first place in this segment.
In the area of medium-sized companies, the NPS index was 46 points (up by 7 points on 2023) and 26 points higher than the average market value, which puts ING firmly at the top of the list.
In the sector of large companies, the bank achieved second place with an NPS score of 44 points. Despite an adjustment of 8 points compared to 2023, its level was still 10 points above the market benchmark.
Relational NPS in the area of entrepreneurs, medium-sized and large companies
The reported indicator values are based on the results of the NPS benchmark survey, which is part of an international research project carried out by the research institute IPSOS on behalf of ING Group N.V. in the Business Banking markets. Measurements are mainly carried out using the CATI method.
Satisfaction and CX surveys are an important part of our strategy to grow and build lasting client relationships. In 2024, we sent out more than half a million surveys, which allowed us to gather extensive material for analysis. The information gathered from them has become the foundation for implementing improvements and proposing solutions better tailored to market expectations.
We focus not only on key processes and contact channels. In the past year, we have included new interaction channels and products in our research. Among other things, we carry out satisfaction surveys after video calls and chats with our consultants, which allows us to gather feedback in real time and better understand the needs of clients in real time.
Leading places in the rankings are confirmation that clients appreciate the changes that are being made, which motivates us to further improve our processes, quality and service standards.
In the Wholesale Banking strategic client area, the relational NPS stood at 85.1 points (down 4.5 points compared to 2023). The research in this area is also part of an international research project carried out by the ING Group N.V.
Relational NPS in the area of strategic clients
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Customer service at meeting points
Retail segment
In accordance with the Bank Organisational Bylaw , we serve individual clients at banking branches, which we divide into:
meeting places: we will arrange a convenient day and time with the client to discuss their needs. Specialists will help you take care of your financial future, live better, as well as in everyday banking,
private Banking meeting places – Private Banking clients will meet their advisor here,
cash service points – here we take care of the comfort of withdrawing and depositing cash at the cash desk; a specialist will help to make the transaction smooth and safe,
ING Express sales outlets – operate in shopping malls; our clients can open an account there along with access to online banking.
As at 2024 yearend we had:
175 meeting places;
56 ING Express outlets, located in major shopping centres across Poland. The ING Express network of points of sale is a response to the expectations of clients who are looking for a bank that is available anywhere at any time.
5 Private Banking centres and
55 cash service points dedicated to cash deposits and withdrawals at the counter.
We are consistently in the process of modernising our bank outlets, which involves changing equipment and décor and introducing new functional solutions.
Number of our meeting places and cash points
Geographical structure of meeting place locations as at 2024 yearend
We continue optimization activities by relocating and consolidating outlets to the most attractive business locations in individual cities and regions.
Corporate segment
The bank serviced corporate clients in the segment of medium-sized and large companies through:
9 Business Development Centres,
29 Business Banking Centres,
14 Corporate Banking Centres.
Almost all of them operated in the same locations as the venues.
Strategic clients were serviced by the Strategic Clients Department in Warsaw and a regional office in Katowice.
Development of the video channel at venues
In 2023, we implemented the possibility for clients to meet on video and talk to our experts about their new mortgage. Observing the high client interest in this form of contact (more than half of self-appointed clients choose video vs. in-office appointments), we have been developing this functionality in 2024 and increasing the availability of experts in this channel. In addition, we have implemented the following solution – in addition to being able to
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make a dedicated appointment, the client also has the option to connect with a specialist “here and now” (click to video ). Without making an appointment, he or she can immediately discuss a mortgage offer and even apply for a loan. In addition, we have implemented the possibility of a click to video call after p.m. and on Saturdays, which is proving quite popular with clients. The client can make an appointment, use the click call option, via our bank website, Moje ING and e-commerce. Private Banking clients can also meet with their adviser by video and discuss the current savings and investment offer.
Automatic teller machines (ATMs) and cash dispensers
An accessible and developed ATM network is an important channel for clients to access cash. As at 2024 yearend, our clients will have more than 5,200 commission-free ATMs at their disposal. This represents an increase of 10% on the end of the previous year. The increase is mainly due to the addition of Santander Bank Polska S.A.’s off-branch facilities to its preferred network, with which Planet Cash has established a partnership. At the moment, the commission-free network mainly consists of machines with the ING logo (all with deposit facilities) and Planet Cash and Planet Cash in cobrand with banks: BNP Paribas Bank Polska S.A., mBank S.A., Credit Agricole Bank Polska S.A., VeloBank S.A. and selected Co-operative Banks. Most of these devices also allow deposits.
In the area of the ING logo device network, our activities in 2024 focused on:
continuing to educate clients on cyber security – screens displayed on devices,
increasing the number of devices with an active voice guide function – adaptation for blind and partially sighted people (+60 devices y/y, meaning that at the end of 2024, 70% of devices had this feature),
preparing to modify the transaction scenario – adding a screen to make clients aware that the money they deposit is immediately in their account,
the introduction of a new standard in Cash Service Points – dual-currency devices at each location.
At the end of the year, clients could withdraw EUR from 89 Orange ATMs (up by 12% compared to the end of 2023).
We attach particular importance to activities in the area of financial education, which we have been targeting a wide range of audiences for many years. The implementation of these activities flows from the need to share the expertise we have as a financial institution. That is why, as part of their cooperation with partners in many projects,
ING Bank Śląski Group employees participate as experts or mentors. In order to carry out social activities effectively, we establish partnerships with organisations with a broad, nationwide reach that declare high standards of action. Together with partners, we set targets and metrics to determine the effectiveness and social impact of the programme. This way, we know what social change we are achieving as a result of our joint activities. In addition to regular programmes and partnerships, we also implement activities that respond to humanitarian need. An example is the fundraising for those affected by the floods that hit south-western Poland in September 2024.
ING Bank Śląski conducts social and charity activities in priority areas in line with its business strategy for sustainable development. We carry out activities both independently and in cooperation with community partners and with the support of two corporate foundations – the ING for Children Foundation and the ING Polish Art Foundation.
We attach great importance to the transparency of our activities. We work with organisations that declare their compliance with anti-corruption, ethical and environmental standards. We ensure due diligence in the process of establishing cooperation. Financial charitable donations are made on the basis of ING Bank Śląski S.A.’s Donations Policy in place at the bank, with the Donations Committee participating in the process each time. Sponsorship and partnership activities are also covered in our bank by the ING Bank Śląski Sponsorship Policy and the ING Bank Śląski Social Partnerships Policy , respectively. For more on this topic, see Donations sponsorships and partnerships .
Assistance to flood victims
A collection to help flood victims (which took place in southwestern Poland in September 2024), launched by ING Bank Śląski together with the ING for Children Foundation, raised more than PLN 5.6 million, of which PLN 1 million was donated by the bank and PLN 200,000 by ING Hubs Poland. The money was earmarked for humanitarian aid organised by the Polish Red Cross. It reached those affected, especially children and their families. It will help provide safe shelter, food and care for those living in devastated areas. In addition, ING Bank Śląski made a donation to the “Kompas” Association for the Promotion of Physical Culture to organise a school trip for children from flood-affected areas.
Continuing to support those affected by the war in Ukraine
ING Bank Śląski continued its support for employees of Ukrainian origin in terms of medical care and housing rental, and for employees supporting people from Ukraine in terms of Easter and Santa Claus benefits for children. Following the attack on the Okhmatyd Children’s Hospital in Kyiv, ING Bank Śląski made a donation of PLN 50,000 to UNICEF Poland to help children and their families, particularly those affected by the shelling. ING Bank Śląski, together with the ING for Children Foundation, immediately after the rocket attack on Kyiv’s children’s hospital
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launched an internal collection among employees; the amount collected, more than PLN 22,000, was donated to UNICEF Poland.
Actions for financial education, climate education, entrepreneurial development and sustainable development
We Will Save the World – eco-programme for primary school students
“We Will Save the World” is an educational programme aimed at students at all levels of primary school, which combines the expansion of children and young people’s environmental knowledge with the enhancement of digital competence. The programme is part of ING Bank Śląski’s work on climate education for primary school children. The We Save the World Programme is organised by the “ABCXXI – All of Poland Reads to Kids” Foundation, with the WWF Polska Foundation as the content partner. ING Bank Śląski is a Strategic Partner. The Ministry of Climate and Environment and the National Library have assumed Honorary Patronage of the Programme. Nearly 17,000 male and female students from 219 institutions in 172 locations across the country were enrolled in the second edition of the programme, which ended in June 2024. The finale of the programme was for the students to carry out their own environmental projects for the benefit of the local community and to submit presentations of their implementation to the organiser for a competition. You can read more about the EIA Programme on the website: We Will Save the
World – All of Poland Reads to Kids .
Warsaw Banking Institute – Bakcyl, Security in Cyberspace (BwC) and #EduSmartGrowth
As part of the industry’s financial education programme Bakcyl and the Cyber security programme for primary and secondary school students, lessons on finance and cyber security were taught by volunteers – employees of participating banks. In addition, a new programme was implemented in 2024 to address the need for education in the area of sustainability in secondary schools – #EduSmartGrowth.
ING Group N.V.’s global grant fund. - ING Community Investment Global Fund
The ING Group N.V.’s grant fund is dedicated to projects and programmes in individual countries for Community Investments – in the areas of financial health, supporting labour market resilient professional skills and supporting entrepreneurship. The projects, prepared by local NGOs in each country, are evaluated by a grant fund jury of international CSR experts. Grants for projects are provided through ING Bank Śląski on the basis of the ING Bank Śląski’s Donations Policy. In 2024, ING Bank Śląski provided social partners with funds from the fund to implement 5 projects (Already Job Ready / You A(nd)I, Exempt from Theory, ABC of Economics – Czepczynski Family Foundation,
WWF Poland Foundation, National Foundation for Environmental Protection). This was over PLN 1 million from the Community Investment Fund.
Exempt from the Theory –Competition of Social Projects
In 2024, ING Bank Śląski continued, together with the ING for Children Foundation, to implement the ING Challenge – A Step Ahead, in partnership with the Exempt from Theory Foundation. Once again, as part of the largest Social Projects Olympics in Poland, secondary school students organised their own social projects, responding to community-, cultural-, technological- or environmental needs. In the implementation of the projects, 72 youth teams benefited from the support of 70 expert mentors from the bank and foundations. A total of 466 participants completed our challenge. The most important Golden Wolf award for the implementation of the best social projects in Poland was won by as many as 19 projects. You can read more about the event here . The bank additionally
engaged in a new programme aimed at building awareness and knowledge about the use of AI tools – You A(nd)I. Selected participants of the competition of social projects, who implemented their ideas based on AI tools, took part in a webinar and classroom workshops led by bank experts.
Lesław Paga Foundation
In 2024, ING Bank Śląski was a partner of the 19th edition of the Capital Market Leaders It is an educational leadership programme for talented university students and graduates up to the age of 27 who want to develop professionally in the areas of capital markets, M&A, strategy and strategic projects, corporate governance, analysis and controlling, and process optimisation. Participants in the programme took part in an intensive two-week Summer School, during which they attended workshops on leadership, managerial and hard skills led by experienced managers and market practitioners. Experts from ING held a workshop on how banks operate in an inflationary environment and links to the capital market. You can read more about the event here .
Responsible Business Forum
ING Bank Śląski continued its partnership in the Responsible Business Forum as an institution that is committed to social responsibility and sustainability as well as diversity and inclusion initiatives as a signatory of the Diversity Charter. In the Responsible Business Forum’s annual report “Responsible Business in Poland. Good practices” featured 10 good practices in the area of sustainable development from ING Bank Śląski. The practices highlighted in the report are: Organisational Governance – managing the ESG area of the organisation; Human Rights – #Help Ukraine; Labour Practices – My Environment – a joint programme with the ING for Children Foundation; Mocodajnia;
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Mental Health Programme for Bank Employees; Environment – Save the World; OFF Culture; Consumer Issues – Online Safety; Social Involvement and Community Development Step forward – a joint project with the ING for Children Foundation and the Exempt from Theory Foundation; and the Grant Programme for Start-ups and Young Scientists.
United Nations Global Compact Network Poland (UNGC)
As part of its continued cooperation with the UN Global Compact Network Poland, ING Bank Śląski was a partner in the ’Business & Human Rights’ programme, which aims to implement the UN Guiding Principles on Business and Human Rights and their practical application in ethical programmes and company strategies. The bank was also a partner in the Climate Positive programme, which included initiatives related to the European Green Deal, green finance, promotion of clean energy technologies (e.g. hydrogen), energy efficiency, electrification of transport, among others. Representatives of ING Bank Śląski regularly and actively participated in the Steering Committee of this programme and spoke within the reports published by the UNGC.
In 2023, ING Bank Śląski joined the UN Global Compact as a direct member at country level (ING Group N.V. is a long- standing member of the UN Global Compact at global level).
Run Warsaw
We have been taking part in “Run Warsaw” event since 2013. The Orange Team is made up of employees and their accompanying persons and families. Every year we run and march for the ING for Children Foundation. In 2024, during the “Run Warsaw” and “I’m Marching and Cheering” events, the Orange Team numbered as many as 6,000 people, and ING employees ran and marched for a record amount for the foundation – PLN 166,300, which the foundation will donate to the organisation of the Orange Force programme in 2025.
ING Charity Football Tournament
On 22 June 2024, the ING Charity Football Tournament took place at the MORIS pitches in Chorzów. 21 teams from ING and 197 players and footballers took part. Teams made up of bank employees and group companies from across the country competed. As well as promoting healthy lifestyles, the aim of the tournament was to support charities that provide sporting activities for people with disabilities. In 2024, support for activation activities for children and adults with disabilities (PLN 15,000 each) was received: Hope for the World Cup Foundation, the Amp Football Poland Association and the Avalon Foundation.
Donations sponsorships and partnerships
In 2024, ING Bank Śląski made charitable donations of a financial and in-kind nature. Donations were made on the basis of ING Bank Śląski’s Donations Policy . The policy sets out, inter alia, the areas of the bank’s involvement in charitable activities. The bank’s chosen areas for social investment are:
education and activities for children and young people, including leisure for children and young people, as well as support for social and subsistence needs,
education, science, schooling and education – especially in the area of financial and climate education,
health protection and prevention,
actions to promote diversity, build openness and equal opportunities,
environmental protection, combating climate change,
education and promotion of contemporary art by Polish artists,
financial support in case of special events in which a worker or a member(s) of his or her family is affected.
In this policy, we also clarify which donations the bank does not make:
for political purposes, for the benefit of political parties, election committees, for candidacy purposes, for election campaigns,
those that may be considered as an attempt to influence decisions taken by persons exercising public functions,
which have a business purpose and serve to establish or maintain a business relationship with a client or third party,
that can be considered as trading in proceeds, in order to obtain preferential decisions for the bank,
when there are circumstances indicating that the beneficiary has engaged in corruption, bribery or other unethical or illegal activities,
if the donation could be judged as an attempt at corruption or bribery,
individuals, with the exception of donations as defined in ING Bank Śląski’s Donations Policy (Article 2(2) and (3)),
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for organisations that discriminate against people on the basis of age, race, colour, religious belief, gender, disability, sexual orientation or country of origin,
for organisations suspected of acting contrary to the bank’s values in line with the ING Orange Code,
for organisations that do not operate under the act of 24 April 2003 on the activity of public benefit institutions and voluntary work,
for projects, programmes aimed at supporting religious worship, faith-based organisations,
for student organisations if the purpose is to finance trips and/or student events,
to cover the running costs of social organisations, e.g. office operation, service charges, salaries.
The Donations Policy sets out the roles of the Donations Committee, the Bank Management Board Bureau and the Management Board in the process, the due diligence requirements and the decision-making process. Each time a charitable donation is made, the Centre of Expertise – Compliance and the Donations Committee (made up of 5 representatives of the bank) are involved, as well as, depending on the amount, two members of the Bank Management Board or the bank management board. In 2024, ING Bank Śląski made charitable donations from its own funds totalling around PLN 4.1 million.
The bank also made donations to the activities of two corporate foundations:
for the ING for Children Foundation in the amount of PLN 3.6 million,
for the ING Polish Art Foundation in the amount of PLN 1.1 million.
Objectives that the bank supported through donations, in selected areas of community investment in 2024:
aid to children and their families affected by the floods – PLN 1.052 million,
support and assistance to Ukraine – PLN 97,000,
science, education, education and upbringing – particularly in the area of financial and climate education – the bank made donations totalling around PLN 1.032 million,
health care and prevention – the bank made donations totalling PLN 268,000,
environmental protection, counteracting climate change – PLN 2.25 million (including a donation of PLN 2 million to the WWF Poland Foundation and a donation of PLN 250,000 to UNEP/GRID-Warszawa for the Upper Biebrza Wetland Ecosystems project).
In total, ING Bank Śląski donated PLN 10.194 million to social- and charitable activities (the amount of charitable donations and donations to corporate foundations).
In 2024, the bank also made in-kind donations of end-of-life IT equipment (in good working order) and office furniture mostly to schools, kindergartens, care facilities and charities. The value of IT equipment donated to foundations, associations and care facilities amounted to PLN 127,500.
Donations in kind were made on the basis of the Procedure for the Resale / Donation / Deprocessing of Fixed Assets at ING Bank Śląski S.A.
Continuing with its sponsorship strategy, ING Bank Śląski engaged in 2024:
aimed at young people by supporting them in being resourceful and entrepreneurial in their finances and personal lives;
related to ESG and sustainability – these activities are permanently embedded in our bank’s business strategy as one of its priorities. The bank sees it as an arena for building a long-term competitive advantage – both its own and that of its clients;
aimed at entrepreneurs, owners and managers of medium and large-sized companies. The bank inspires, supports, promotes innovative approaches to doing business.
As part of its work with community organisations (partners), the bank was actively involved in:
financial education,
climate,
entrepreneurial development,
sustainable development.
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The collaboration also covered aspects such as cyber security, building the competences of the future and promoting diversity and equal opportunities. It also served to share expertise and experiences and design solutions for the bank’s internal and external stakeholders.
The area of sponsorship is governed by the ING Bank Śląski S.A. Sponsorship Policy , while the area of partnerships is governed by the Policy for Entering into Partnership Agreements with Social Organisations in ING Bank Śląski S.A. Both policies clearly set out the rules for selecting bids and working with bidders and partners.
In 2024, ING Bank Śląski spent just over PLN 6 million on all sponsorships and partnerships, specifically:
Breakdown of sponsorship expenditure and partnership activities
PLN thousand
2021
2022
2023
2024
Activities targeting entrepreneurs*
972
1,370
2,272
2,815
Activities targeting young people*
659
730
540
1,464
Activities related to social responsibility, ecology and environmental protection*
1,056
245
1,125
2,021
Total
2,690
2,345
3,937
6,300
*including congresses, conferences, building and maintaining good business relationships
Highlights of the bank’s involvement in 2024
European Economic Congress and EEC Trends
ING Bank Śląski as the bank for Entrepreneurs, has been supporting the European Economic Congress in Katowice and EEC Trends, the conference that constitutes the programme prologue of the European Economic Congress, for many years. This time in the role of EEC Trends Partner and Main Sponsor and the ECG Online Broadcast Main Sponsor.
The EEC Trends conference took place on 08 February 2024 in Warsaw. The most important phenomena in the economy came under discussion: the effects of the complex geopolitical situation, with the war in Europe and the energy crisis at the forefront, the transformation of the energy sector and the processes of adapting the economy to the climate challenge, as well as phenomena related to the economic slowdown and the determinants and effects of digitalisation.
The 16th edition of the European Economic Congress took place on 7-9 May 2024 at the International Congress Centre in Katowice. An important context for this edition of the congress was the 20th anniversary of Poland’s accession to the European Union, and the keynote, guiding the debates, transformation for the future. ING experts, among politicians and decision-makers, as well as numerous investors and representatives of major businesses who came to Silesia, discussed, inter alia, the impact of technology and the regulatory environment on modern banking in Poland, digitalisation, or climate policy and the sustainable economy.
European Financial Congress
In 2024, ING Bank Śląski was one of the sponsors of the European Financial Congress (EFC) in Sopot. The congress discussed the topics of the stability of the European and Polish financial system, measures to increase Poland’s economic credibility, stimulating the growth of long-term savings and investment, and financing the sustainable development of the real estate market. They also discussed the challenges of financing major investment projects (energy transition, including nuclear power, arms expenditure, participation of Polish companies in the reconstruction of Ukraine). Much attention was paid to the topics of cyber security, secure data flows and the further digitalisation of the commercial and public spheres, including AI issues. The outcome of the EFC is recommendations on Poland’s financial stability and economic development. Representatives of the Management Board and experts from ING Bank Śląski took part in discussions during the Congress.
Open Eyes Economy Summit
The 9th edition of the congress took place in Krakow on 19-20 November 2024. ING Bank Śląski, as a partner, has since the first edition of the Open Eyes Economy Summit supported this unique event that brings together business, science and culture, promoting the ideas of sustainable development and social responsibility.
In 2024, the bank’s activity was extremely varied. We prepared a zone inspired by ING City in Roblox, where the youngest could learn the principles of cyber security and develop their interests through creative workshops. For adults, we created a conversation space where participants could exchange ideas and inspirations over aromatic coffee. In addition, everyone could take part in a unique activity – the joint creation of a 3D map of Europe, highlighting the Sustainable Development Goals and the values that define the future of our continent.
Music festivals
ING Bank Śląski has committed to sponsoring two music festivals during the 2024 holiday season: Sun Festival in Kołobrzeg and the Olsztyn Green Festival (OGF). The Olsztyn Green Festival has played a significant role in the
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cultural and social landscape of Olsztyn for a decade. Since 2014, the festival has been attracting music and ecology lovers, creating a unique place to meet and celebrate together. The OGF is the only music event of its kind in Poland that strongly emphasises a commitment to ecology and sustainability.
The Sun Festival in Kołobrzeg is a relatively fresh music event, but one with great potential, which in just two years has clearly marked its place on the festival map of Poland, becoming the first choice among the 18-25 year-old target group.
Chillout-style ING zones were set up for participants at both festivals, where they could charge their phones and mobile devices during the event.
Our corporate foundations
The ING for Children Foundation
The ING for Children Foundation is one of the oldest corporate foundations in Poland. Its mission – We help children to be one step ahead. ING volunteering our strength! – implements in three areas: supporting development and education, nurturing health and equal opportunities. Each of these includes a number of original programmes (e.g. Bibliotherapy, Orange Power, Good Idea Fund or My Environment) as well as those implemented in partnership with local and national organisations (e.g. the Exempt from Theory Competition, ABC of Economics, ABC of Empathy). The Foundation is developing the ING Volunteer Programme, engaging ING employees in various climate education activities for the benefit of local communities. It helps children affected by social and economic problems, supports physical activity for children with disabilities, or assists refugee children and those in crisis situations.
2024 was a special year for the Foundation due to:
the end of the Smile Turnout for the children of the Zaporizhia Children’s Home, whom the Foundation looked after for almost 2.5 years. In June, by a decision of the authorities, the children were returned to Ukraine;
Year of Economic Education, during which the Foundation engaged in a number of initiatives, including continuing cooperation with the Czepczynski Family Foundation on the ABC of Economics programme, taking part in the National Forum for Economic Education and presenting its original educational materials for the youngest, which it prepared together with employees of the CFO Division of ING Bank Śląski;
flooding that has affected south-western Poland in September 2024. As part of a relief campaign for flood victims, ING Bank Śląski and the Foundation have launched a special collection among ING employees and clients. We write more about this here .
Employee volunteering
ING Bank Śląski and the other ING Bank Śląski Group companies provide all employees with the opportunity to use 8 hours per year for volunteering, in accordance with the ING Bank Śląski Work Bylaw and the work bylaws of the other Group companies. Every employee who takes advantage of this opportunity records their volunteering time in an internal system. Employees who volunteer for the ING for Children Foundation are covered by insurance.
Time spent on employee volunteering
2020
2021
2022
2023
2024
Number of hours used for volunteering by employees
1,072
1,099
5,867
8,360
42,890*
*In presenting the number of hours used for volunteering in 2024, ING for Children Foundation has changed its methodology for counting hours. In addition to the hours recorded by employees in the internal system (8,460 hours in 2024), hours dedicated to volunteering activities carried out as part of ING’s Volunteer Programme after working hours and at weekends have been added. The involvement of ING employees in major sporting charity events for the ING for Children Foundation and its beneficiaries was also taken into account.
For more information on the ING for Children Foundation’s activities in 2024, see the report at: https://www.ingdzieciom.pl/co-robimy/dokumenty.
ING Polish Art Foundation
The ING Polish Art Foundation was established to support Polish male and female artists and to present the most current phenomena in art. The foundation is building a collection of contemporary art and carrying out a range of artistic and educational projects. At the same time, it carries out statutory activities related to the work of developing the collection and promoting the artists associated with it. In 2024, the Foundation implemented its projects in accordance with the action plan adopted and approved by the Management Board and the Foundation Council. In 2024, the initiatives of the Foundation were funded by ING Bank Śląski and ING Hubs Poland, aligning with the global art patronage program of the ING N.V. Group, which plays a significant role in shaping the organization’s culture.
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Collection
The Foundation’s collection consists of works created after 1990 by Polish living artists. The collection currently comprises almost 300 works – 93 paintings, 81 photographs, 42 works on paper, 52 objects (sculptures, ceramics, textiles, etc.), 15 videos and 16 installations. The collection includes works by 50 female and 78 male artists. The collection of the Foundation remains one of the few corporate collections in Poland.
Galeria 1 Piętro (1st Floor Gallery)
the 120 works from the Foundation’s collection are presented permanently in the open space of Galeria 1 Piętro in the Plac Unii building, at 2 Puławska Street in Warsaw. The exhibition is located on the first floor of the shopping centre and is one of the few in the capital, a permanent presentation of the most interesting phenomena in Polish art after the 1990s, with access for the public. It is also the only office and conference space of its kind for bank employees, with a permanent exhibition of contemporary art, meeting rooms and a café.
The Foundation also shows its collection online. Images of works from the collection are made available free of charge on the Foundation’s website (https://ingart.pl/pl/main) under Creative Commons licences (Attribution, Non-
commercial use, No derivative works).
Exhibitions, presentations and events
As part of the Foundation’s permanent activities, presentations and projects have been carried out in the Preview gallery, located in the bank’s head office at 2 Puławska Street in Warsaw. Thanks to its location, the content presented can be accessed by all passers-by, 24 hours a day. In 2024, the gallery had eight exhibitions showcasing works from the Foundation’s collection, as well as one special project, the result of collaboration between invited curators from the "Turnus" gallery and those participating in the portfolio reviews of the Artist – Professional programme.
In the Foundation’s headquarters building, a shopping centre space, a large-format Screen was launched as at 2023 yearend, accessible to all visitors, on which video works are presented. In 2024, films from the Foundation’s collection were screened at monthly intervals, as well as external projects, including one linked to participants in the Artist – Professional programme. The Foundation also continued its public programme of guided tours of the collection and meetings with artists in Galeria 1 Piętro space. In 2024, there were 10 open tours, six meetings for organised groups and four for schoolchildren and students, gathering a total of around 500 people.
As part of the provision and loan of works from the Foundation’s collection, works have been exhibited at 12 exhibitions and events in Poland and abroad.
2024, also marks the eighth edition of the Foundation Award during Warsaw Gallery Weekend (WGW). Through the award, the Foundation supports Polish artists, as well as galleries affiliated to the WGW, who are building the position of the Polish art scene on the international art market. This year, the Foundation’s collaboration with WGW has expanded to include new activities. The Foundation funded 13 initiatives, selected through a competition, which took place in autumn in Warsaw galleries and institutions as a performative and educational programme accompanying Warsaw Gallery Weekend and attracted over 700 audiences.
Artist – Professional
The Artist – Professional project, aimed at students and budding artists, was held for the eighth time in 2024. The aim of the project is to prepare for the moment of graduation and the professionalisation of artistic activity, to level the playing field and support in professional development. During the classes, you can learn about tools and practices helpful in functioning in the artist’s profession. Lectures, workshops and portfolio consultations are given by curators, artists and activists, exhibition producers and art market specialists, among others. The 2024 edition features eight online lectures for more than 3,000 registered participants and 230 portfolio consultations led by 16 specialists and subject matter experts, as well as a trip to the Summer School in Burdag. All lectures were interpreted into Polish Sign Language (PJM). The recordings from this edition, as from previous editions, along with additional supplementary material, have gone into the Knowledge Base and are available to everyone on the Foundation’s website.
Educational offer for bank employees
Traditionally, the Foundation started the year with a series of online meetings with ING employees. In the fourth edition of the “Lunch Course on Art”, the starting point for each of the seven meetings were works that had recently been added to the Foundation’s collection, presented in the context of interesting social phenomena or events in the lives of artists.
More than 20 guided tours of the Foundation’s collection took place in Galeria 1 Piętro for the bank’s employees and clients. As every year, there were also joint walks and visits to exhibitions as part of Warsaw Gallery Weekend. In addition, the Foundation communicated its activities to bank employees through a monthly newsletter.
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The environment in which we operate
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The environment in which we operate is very complex. As a capital group, we interact with a wide range of stakeholders. It is therefore very important for us to manage these relationships. In this chapter you will find information on how we approach this, our presence in the capital market, what characterises the current economic situation, what our economists expect in this respect and what other trends have or may have an impact on our business.
Our presence on the capital market
Investor relations
ING Bank Śląski S.A. strives after the highest standards of capital market communications. We pay particular attention to reliable and transparent information and to equal treatment of all stakeholders as well as observe all the laws regarding disclosure duties of listed companies. We carry out these tasks on the basis of, inter alia, the principles of corporate governance and the Information Policy (described in more detail in the chapter on Corporate
Governance ).
Important financial and business information in the form of financial reports, current reports, investor presentations and editable files with key bank data are presented to the broad capital market. Communication with investors, analysts and rating agencies (both credit and ESG ratings) is handled by a dedicated unit, the Investors Relations, ESG Reporting and Market Research Bureau.
In 2024, representatives of the Management Board and the Investors Relations, ESG Reporting and Market Research Bureau participated in individual and group meetings with investors and also attended key investor conferences.
As a rule, open meetings for investors, analysts and journalists are organised by the Investors Relations, ESG Reporting and Market Research Bureau once a quarter, at the quarterly report publication date. In 2024, we organised conferences in a hybrid mode, i.e. as meetings at the bank’s premises, which we simultaneously broadcast over the Internet. Remote participants of the conference were still able to ask questions via the broadcast
page or by contacting the Investors Relations, ESG Reporting and Market Research Bureau directly by email. Recordings of our conference broadcasts are available for viewing on the website in the Investor Relations tab.
We pay a lot of attention to the quality of communication with stakeholders through our website . The website
offers up-to-date information such as shares quotations on the WSE, company shareholding structure, General Meetings, dividend payout track or credit and ESG ratings. Current, interim and annual reports, results presentations, excel sheets with key financial and business information are also published on the website. The website has been designed in the RWD technology, so it is adjusted to mobile devices – tablets and smartphones.
Employees of the Investors Relations, ESG Reporting and Market Research Bureau also engage in educational activities. In 2024, they shared their knowledge and experience, inter alia, as speakers for internal training courses for bank employees and as conference panellists.
Our bank is among the companies subject to market observation and analysis. As at 2024 yearend, analysts representing 10 domestic and foreign financial institutions published reports and recommendations for the ING Bank Śląski’s shares.
On the bank’s Investor Relations website and in the separate Analysts and Market Consensus tab (located at this
address ), a summary of recommendations issued by analysts is updated on a monthly basis, together with the
average target price and the market consensus based on the average of expectations.
Contact details: Investors Relations, ESG Reporting and Market Research Bureau e-mail: investor@ing.pl
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ING Bank Śląski S.A.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Structure of share recommendations for ING Bank Śląski S.A. as at 31 December 2024
4x Buy / Accumulate
5x Hold / Neutral
0x Reduce / Sell
Average target price for ING Bank Śląski S.A.’s shares as at 31 December 2024
PLN 296.63
Structure of share recommendations and average target price over 2024
Analysts’ expectations of the bank’s 2024 result changed gradually over the course of the year, and the average target price for ING Bank Śląski shares as at 2024 yearend was 23% higher than the corresponding price at the beginning of the year. However, the market price of the bank’s shares had been in a downward trend since mid- 2024 and at the end of the year it was 18.6% below the average target price.
Analysts’ expectations regarding the consolidated result of ING Bank Śląski in 2024 (PLN million)
Change in analysts’ earnings per share (EPS) expectations for the 2024-2026 result (PLN per share)
The Investors Relations, ESG Reporting and Market Research Bureau also prepares a consensus of quarterly results based on the expectations of analysts covering our company. Looking ahead to the last four quarters (2024 results), the differences between the reported and expected results are shown in the table below. The highest divergence (relating to Q4 2024) was +21.7% and was driven by a lower cost of risk than the market had expected.
Reported net profit versus quarterly market expectations (PLN million)
Q1 2024
Q2 2024
Q3 2024
Q4 2024*
Reported net result
993
965
1,102
1,309
Consensus of expectations
1,091
973
1,122
1,076
Difference
-8.9%
-0.8%
-1.8%
+21.7%
*Consensus and net profit for preliminary, unaudited data
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ING Bank Śląski S.A.
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Management Board Report on Operations of the ING Bank Śląski S.A. Group in 2024
Share price
In 2024, the price of ING Bank Śląski shares on the WSE fluctuated from PLN 223.5 to PLN 357.5. On 30 December 2024, our bank’s share price was PLN 241.5 at the close of trading, 5.7% lower than on the last trading day of 2023. For comparison, the WIG-banks sector index grew by 11.6% at that time.
As at 2024 yearend, the market value of our bank was PLN 31.4 billion, while the book value of the bank’s capital group was PLN 17.2 billion.
Our bank has been part of the WIG and mWIG40 indices since their inception.
Participation in the main stock indices of ING Bank Śląski SA (based on the last revision in a given year)
2020
2021
2022
2023
2024
WIG
1.8181%
2.3694%
1.8698%
2.065%
1.9371%
mWIG40
9.7038%
9.9999%
8.6946%
9.995%
9.1380%
ING Bank Śląski S.A. share quotations in 2024 versus comparable selected WSE indexes
ING Bank Śląski S.A. shares data
2020
2021
2022
2023
2024
Share price as at the yearend (PLN)
171.0
267.0
164.8
256.0
241.5
Top share price (PLN)
207.0
282.0
287.0
275.5
357.5
Bottom share price (PLN)
102.6
167.2
130.0
151.6
223.5
Turnover weighted average spread (basis points)
43
43
50
41
39
Yearend capitalization (PLN billion)
21.8
34.7
21.4
33.3
31.4
Number of shares (thousands)
130,100
130,100
130,100
130,100
130,100
Total number of transactions
88,567
60,865
63,709
68,759
119,544
Number of block trades
0
2
1
0
18
Average number of transactions per session
351
242
254
275
480
Trading volume
3,799,640
2,404,219
2 203 660
2,840,678
3,354,489
Average trading volume per session
17,078
9,579
8,780
11,363
13,472
Market makers’ share in turnover
12.41%
8.78%
8.39%
9.23%
7.58%
Dealers’ share in turnover
3.50%
2.50%
0.61%
0.99%
1.83%
Earnings per share in PLN
10.3
17.7
13.2
34.1
33.6
Share book value (PLN)
143.1
104.0
71.8
128.6
132.0
Dividend per share* (PLN)
0.00
5.10
5.30
0.00
33.35
P/E ratio**
16.6
15.0
12.5
7.5
7.2
C/WK** ratio
1.2
2.6
2.3
2.0
1.8
*Paid in the year; **index calculated based on the share price at the end of the year in question.
Our Bank’s shares are under the number ISIN PLBSK0000017. The ticker on the WSE market is “ING”, and information about our bank on Bloomberg and Reuters is available under “ING PW” and “INGP.WA”, respectively.