ING is ready to wait for the right acquisition to come along

Currently ING Bank Śląski (BSK) controls around 6% of the domestic banking market. "Our aim is to achieve a 10-15% share," stated Eli Leenaars, a member of the ING Group board, "We can gain 10% through organic growth during the next six years. A 15% share is only possible if we take over another bank. We are ready to consider such an option if a suitable occasion appears." He nevertheless added that currently none of the institutions in Poland that ING is interested in is for sale and explained that the company is not looking to take over any other institution at any cost. Leenaars also declared that Poland is a key market for the Dutch group and that no option of withdrawing from the market was ever considered. He refused to reveal what BSK's 2004 financial results might be, but he did not exclude the possibility that more than the traditional 20% of the 2004 net profit may be earmarked for dividend payouts. (Parkiet, p. 1) E.B.