ING Expands Share Buyback Initiative to Strengthen Capital Base
ING's Share Buyback Program Update
Recently, ING has made significant strides in its ongoing share buyback program, which was set at an impressive €2.5 billion. The company has repurchased approximately 3,625,795 shares as reported and aims to enhance shareholder value while reducing its share capital. This activity spans from early September and reflects ING's commitment to increasing shareholder returns.
Recent Repurchase Details
The shares acquired by ING amounted to a total expenditure of about €58.9 million, with an average purchase price of €16.24. This consistent buyback action indicates a strategic focus on enhancing market confidence and sending strong signals to investors about the company's robust financial health.
Total Buyback Progress Overview
To date, ING has successfully repurchased a total of 131,030,658 ordinary shares as part of this initiative. The endeavors so far have been conducted at an average price of €15.92, leading to a total investment of approximately €2.09 billion. This showcases that around 83.43% of the planned buyback amount has already been utilized, which further confirms the program's effectiveness in supporting the company's long-term strategy.
ING's Commitment to Shareholders
Investing back into their shares represents ING's dedication not only to boosting capital but also to fortifying its position in the ever-competitive banking sector. This program resonates with their core principle: to empower stakeholders and shareholders while progressing in the direction of sustainable business practices. The ongoing share buyback program is designed not just to give back to shareholders but also to solidify ING's market standing as a formidable player in the financial landscape.
Achievements in Sustainability
Alongside their financial initiatives, ING is equally committed to achieving significant sustainability goals. The firm has received accolades for its environmental practices, underlined by strong ratings from global agencies. These achievements are not only a testament to ING's dedication but also reflect the growing importance of sustainable finance in the banking industry. Their inclusion in various sustainability indices underscores their commitment to responsible banking and long-term value creation for all stakeholders.
Investor Relations
For more inquiries regarding ING, interested parties can reach out to:
Press Enquiries
Christoph Linke
Phone: +31 20 576 5000
Contact via Email
Investor Enquiries
ING Group Investor Relations
Phone: +31 20 576 6396
Contact via Email
Frequently Asked Questions
What is the goal of ING's share buyback program?
The share buyback program aims to reduce share capital and enhance shareholder value.
How many shares has ING repurchased so far?
ING has repurchased approximately 131 million shares under its current buyback program.
What is the average price of shares repurchased by ING?
The average purchase price for the repurchased shares is approximately €15.92 per share.
How has ING been recognized in terms of sustainability?
ING has received strong sustainability ratings from various agencies for its environmental and governance efforts.
Who can I contact for investor inquiries related to ING?
Investors can reach out to ING Group's Investor Relations using the provided contact information.
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