Business · Companies · 3 hrs ago
ING targets wealthy international clients in Spain
ING is seeking wealthy international clients in Spain as it expands its private banking business there.
The bank says Spain has its greatest growth potential in wealth management among the countries where it operates.
It has launched the service with 6,000 clients, but says its immediate priority is bringing existing customers’ assets from other banks.
ING aims to double its wealth-management business by 2029 and announced plans to acquire a 40% stake in Spanish bank Singular Bank.
The bank points to Spain’s economic growth and the transfer of wealth between generations as reasons for its optimism.
ING plans an international private-banking event in Madrid in the first half of 2027 to introduce wealthy clients from several European countries to Spain.
ING has launched private banking in Spain and sees the country as its strongest growth opportunity for wealth management among the markets where it operates.
The bank is targeting wealthy international clients, while first seeking to attract assets held elsewhere by its existing customers.
ING launched its Spanish private-banking offer with 6,000 clients.
It is preparing an international private-banking event in Madrid for the first half of next year.
ING aims to double its wealth-management business by 2029.
- Who
- ING, led in private banking by global head Anneka Treon.
- What
- ING has launched private banking in Spain and is seeking to grow its wealth-management business, including among international clients.
- When
- The offer has just launched; the article was published on November 3, 2026.
- Where
- Spain, with Madrid highlighted as a destination for managing wealth.
- Why
- ING sees Spain as its strongest growth opportunity among its markets, citing economic growth and wealth creation.
This story does not have two clearly opposing sides.
ING rolled out its project to compete in European private banking.
ING announced the acquisition of a 40% stake in Spanish bank Singular Bank.
Expansión reported that ING had launched its private-banking offer in Spain.
ING is preparing to hold its first international private-banking client event in Madrid.
ING aims to double its wealth-management business, including in Spain.
- Initial private-banking clients
- 6,000
- Spanish bank stake
- 40% of Singular Bank
- Target year
- 2029
- Planned event location
- Madrid
- Planned event timing
- First half of next year
What people are saying
Spain, and particularly Madrid, is increasingly consolidating its position as a preferred destination to manage wealth, establish tax structures or even set a retirement residence, ahead of other international alternatives
We see a great opportunity to grow in Spain in the international client segment, although we will take it step by step
Our greatest immediate opportunity lies in our current client base, where there are thousands of users with potential to whom we had not yet offered private banking
Spain is at the brightest point in Europe in terms of GDP growth