The supervisory board of ING Bank Śląski SA unit ING Bank Hipoteczny approved the lender's international mortgage-backed bond program valued at up to €5 billion.

The issuance will be denominated in Polish zlotys and other currencies, with maximum maturity not exceeding 20 years.

ING Bank Śląski launched its mortgage unit in January 2019 in order to diversify the structure of financing.

ING Groep NV is the ultimate parent of ING Bank Śląski and ING Bank Hipoteczny.