345 0 Kommentare ING announces share buyback programme of up to €2.5 billion

ING announces share buyback programme of up to €2.5 billion

ING announced today a share buyback programme under which it plans to repurchase ordinary shares of ING Groep N.V., for a maximum total amount of €2.5 billion. The purpose of the share buyback programme is to converge our CET1 ratio towards our target of around 12.5%.

ING Group’s CET1 ratio was 14.8% at the end of the first quarter of 2024, which is well above the prevailing CET1 ratio requirement of 10.94%. The share buyback programme will have an impact of approximately 77 bps on our CET1 ratio. The programme will commence on 2 May 2024 and is expected to end no later than 29 October 2024.

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The ECB has approved the programme, which will be executed in compliance with the Market Abuse Regulation and within the limitations of the existing authority to acquire a maximum of 20% of the issued shares as granted by the general meeting of shareholders on 22 April 2024. ING has entered a non-discretionary arrangement with a financial intermediary to conduct the buyback.

ING will provide weekly updates on the progress of the programme via a press release and on the Investor Relations section of the ING website: https://www.ing.com/Investor-relations/Share-information/Share-buyback-programme.htm.

Note for editors

For further information on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom or via the @ING_news Twitter feed. Photos of ING operations, buildings and its executives are available for download at Flickr. ING presentations are available at SlideShare.

Press enquiries			Investor enquiries
Christoph Linke			ING Group Investor Relations
+31 20 576 5000			+31 20 576 6396
Christoph.Linke@ing.com			Investor.Relations@ing.com

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ING PROFILE
ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank’s more than 60,000 employees offer retail and wholesale banking services to customers in over 40 countries.

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