ING launches private banking services in Spain

ING has officially launched its private banking division in Spain, targeting approximately 6,000 clients with assets exceeding 500,000 euros. The bank reports a current business volume of 6.5 billion euros, with an average client wealth surpassing one million euros.

To support this expansion, the bank has deployed a team of 35 specialized managers, with plans to reach 40 by the end of the year. The service aims to combine digital offerings with physical presence through specialized spaces in five offices located in Madrid, Barcelona, Sabadell, Valencia, and Sevilla.

ING has identified over 40,000 existing clients with assets of 250,000 euros or more who represent potential private banking customers. The bank noted that, on average, these clients hold two-thirds of their financial wealth in competing institutions. The group intends to double its business figures by 2029, aligning with its international strategic objectives.