ING Expands Its Share Buyback Programme
ING has made significant progress in its €2.5 billion share buyback programme, which aims to enhance shareholder value by decreasing the number of outstanding shares. The latest report reveals that the company repurchased more than 3 million shares in the week leading up to the end of August 2024. This initiative underscores ING's dedication to returning capital to its shareholders.
Details of the Recent Share Repurchase
From 26 August 2024 to 30 August 2024, ING repurchased a total of 3,268,026 shares at an average price of €16.21 per share. This resulted in an impressive expenditure of approximately €52.96 million on share repurchases. This action is part of ING's comprehensive strategy to maintain financial strength while effectively managing its share capital.
Overall Progress of the Programme
As part of its ongoing buyback programme, ING has now acquired a cumulative total of 127,404,863 ordinary shares. These shares were purchased at an average price of €15.91, totaling around €2.03 billion to date. So far, approximately 81.07% of the maximum planned value for this share buyback programme has been executed, highlighting the company’s proactive approach to managing its capital structure.
ING’s Commitment to Shareholders
ING's share buyback programme is aimed not only at improving returns for shareholders but also at showcasing the company's strong financial performance. With over 60,000 employees dedicated to delivering exceptional retail and wholesale banking services worldwide, ING strives to empower both individuals and businesses in their financial journeys.
Profile of ING Group
ING Group is a prominent global financial institution based in Europe. Operating through ING Bank, the company is committed to sustainability, integrating responsible practices across all areas of its business. In recent ESG assessments, ING received an 'AA' rating from MSCI, reflecting its commitment to environmental, social, and governance principles.
Contact Information for Enquiries
For more information regarding press or investor inquiries, please reach out to the following contacts:
- Press Enquiries: Christoph Linke - +31 20 576 5000
- Email: Christoph.Linke@ing.com
- Investor Relations: ING Group Investor Relations - +31 20 576 6396
- Email: Investor.Relations@ing.com
Frequently Asked Questions
What is the purpose of ING's share buyback programme?
The main goal of the programme is to return capital to shareholders by reducing the total number of outstanding shares, thereby enhancing shareholder value.
How many shares has ING repurchased to date?
According to the latest report, ING has repurchased a total of 127,404,863 ordinary shares as part of its buyback programme.
What was the average price of shares repurchased recently?
Recently, ING repurchased shares at an average price of €16.21, which totaled approximately €52.96 million during that week.
Who can I contact for more information about ING?
For press inquiries, you can reach Christoph Linke at +31 20 576 5000. For investor-related questions, please contact ING Group Investor Relations at +31 20 576 6396.
How does ING ensure its commitment to sustainability?
ING prioritizes sustainability by incorporating ESG principles into its operations and has received high ratings from various benchmarks to validate its commitment.
