ING today announced a strategic investment in its Private Banking capabilities by acquiring a stake of approximately 40% in leading Spanish wealth manager Singular Bank. The transaction allows us to accelerate our growth in Private Banking and Wealth Management in the attractive Spanish market. This fits into our ‘Growing the difference’ strategy to increase impact in the markets we operate in, expanding in product offerings and business segments and becoming more relevant for specific client groups.Singular Bank is a leading independent Spanish private bank with around €19 billion of client’s invested assets, offering a complete range of products and services to high-net-worth individuals. ING acquires the stake from Warburg Pincus, a leading global, growth-focused private equity firm, which currently holds 93% of the shares. Singular Bank will continue to be led by Javier Marín who together with management will also hold part of the shares, as will a number of financial institutions and Spanish investors.ING in Spain has been serving retail customers for over 25 years, currently offering payments, savings, investments, mortgages and other lending products to 4.6 million customers. ING Wholesale Banking has been present in Spain since 1982, supporting the growth of large corporates and institutions with tailored and innovative services. The investment in Singular Bank complements the earlier announced launch of ING’s own Private Banking proposition in Spain, which will offer a differentiating model combining digital scale with personal human advice.After the transaction, Singular Bank will continue to operate as an independent entity in the Spanish private banking market, with a product offering that is complementary to that of ING, specifically designed for clients needing a more sophisticated range of products, financing alternatives, and other value-added services. Both parties will work on further commercial cooperation in already identified, tangible opportunities for growth in client base and assets under management, access to new business prospects, and strategic insights.“The investment in Singular Bank is a natural next step in our strategy aimed at becoming the best European bank by accelerating growth, increasing impact and delivering value,” said ING CEO Steven van Rijswijk. “It is an attractive opportunity for us to enhance our ability to help clients with their varied needs across different points in their lives, while further diversifying our income. We have been impressed with what Javier and his team have built over the past years, and we look forward to working together on the further growth and scaling of Singular Bank, reinforcing our commitment to the exciting Spanish market.”Javier Marín, CEO of Singular Bank stated: “Since our inception, our goal has been to establish Singular Bank as a leader in private banking and asset management, recognized for excellence, innovation, and service tailored to each of our clients. Today we begin a new phase, with a group of new partners and the same ambition. With the continued support and commitment of our team and the trust of our clients, we will expand our presence and our value proposition, with the goal of accelerating our growth and positioning the bank as the leader in private banking in Spain.”ING’s non-controlling stake in Singular Bank following completion of the transaction is expected to be 40%, depending on a planned additional investment by Singular Bank management. Parties have agreed on arrangements for a re-assessment of the ownership structure, with a possibility of ING increasing its stake, at a future moment. The transaction is expected to have a minimal impact on ING’s CET1 ratio. Closing of the transaction is expected in the first quarter of 2027, subject to customary regulatory approvals. ING Corporate Finance acted as exclusive financial advisor to ING Group on this transaction.NoYesFundraising NewsInvestment06 Jul, 2026