POLAND – Discussion over the merger between ING Bank Warsaw, a fully owned subsidiary of ING Group, and Katowice based Bank Slaski, 74.7% ING owned, have been postponed until the annual general meeting on June 28.
“This postponement allows discussion on how the interests of Bank Slaski will be optimally dealt with after the changes in ownership,” says the group.

The merger, which creates one of the largest banks in the country, will also offer life insurance and pension products to the Polish market through ING owned Nationale-Nederlanden.

Minority shareholders, controlling 16.4% will stay as long-term strategic investors and support the restructuring of Bank Slaski after the merger, says ING. Most of the remaining 8.9% of the Warsaw Stock Exchange listed bank’s shares are owned by tens of thousands of private shareholders.

The merger is supported by both the country’s banking supervisory commission, Komisja Nadzoru Bankowego, and the Polish government.

After the merger, the bank will be based in Katowice, and it will operate under the name ING Bank in the corporate sector and as ING Bank Slaski in the retail market.