ING has emerged as the lead investor in a consortium acquiring a 40% stake in Singular Bank, the Spanish private bank founded by former Santander CEO Javier Marín.
The Dutch lender heads a new shareholder group that includes ProA Capital, Actinver, a group of family offices, and the bank’s management team.
This move solidifies ING’s footprint in the Iberian private banking sector, leveraging Singular’s established client base and Marín’s industry network.
The acquisition structure allows the existing management to retain significant influence while bringing in institutional backing from major European and Latin American financial players.
For ING, the investment represents a targeted expansion into wealth management without the regulatory and operational complexities of a full merger.
The deal underscores the ongoing consolidation in the European private banking space, where larger institutions are seeking niche players to enhance their high-net-worth offerings.