Update on Share Buyback Programme
ING has made significant strides in its €2.5 billion share buyback programme. Recently, the company successfully repurchased 11,078,000 shares in just one week, underscoring its dedication to enhancing shareholder value. This initiative is part of ING's ongoing strategy to return capital to its shareholders while effectively managing its share capital.
Overview of Repurchased Shares
The shares were bought back at an average price of €15.85 each, resulting in a total expenditure of around €175.6 million. This notable buyback aligns with ING's strategic goals and reinforces its reputation as a dependable investment opportunity. To date, approximately 124,136,837 ordinary shares have been repurchased under this programme at an average price of €15.90, totaling over €1.97 billion.
Current Progress of the Buyback Programme
So far, about 78.95% of the total value of the share buyback programme has been executed. This progress reflects ING's strong financial health and proactive approach to optimizing returns for shareholders. The buyback programme not only showcases ING's solid capital position but also highlights its commitment to maintaining strong relationships with investors.
Further Information Available
For detailed information on daily repurchased shares and various purchase transactions, shareholders and interested parties can visit the dedicated investor relations section on ING's corporate website.
ING's Commitment to Stakeholders
ING is portrayed as a global financial institution with a strong European foundation, primarily operating through ING Bank. The bank aims to empower customers in managing both personal and business finances, serving clients in over 40 countries with a workforce of more than 60,000. This commitment goes beyond financial transactions, emphasizing a dedication to building lasting relationships with stakeholders.
Sustainability and ESG Efforts
Moreover, ING places sustainability at the core of its operations. The company has received external recognition for its environmental, social, and governance (ESG) initiatives from various rating agencies and benchmarks. For example, Sustainalytics recently assessed ING's management of ESG material risks as 'strong', and the company maintained an 'AA' rating from MSCI in mid-2023. This commitment to sustainability reflects ING's vision of integrating responsible business practices into its core operations, ensuring long-term value for its investors.
Looking Ahead for ING
As we look to the future, ING is well-equipped to navigate changing market conditions and capital challenges, supported by its robust risk management practices. The company plans to continue its growth trajectory while fulfilling its commitments to all stakeholders, including shareholders, customers, and the environment.
Contact Information for Inquiries
For any press-related inquiries or additional investor information, Christoph Linke from ING Group Investor Relations can be reached at +31 20 576 5000 or via email at Christoph.Linke@ing.com. For investor relations questions, interested parties can contact +31 20 576 6396 or Investor.Relations@ing.com.
Frequently Asked Questions
What is the purpose of ING's share buyback programme?
The share buyback programme aims to reduce ING's share capital and return value to its shareholders.
How many shares has ING repurchased so far?
As of now, ING has repurchased approximately 124,136,837 ordinary shares under the programme.
What has been the average price for shares repurchased?
The average price for shares repurchased under the programme is €15.90.
What percentage of the buyback programme has been completed?
Approximately 78.95% of the total value of the share buyback programme has been executed.
How can investors obtain further details about the buyback transactions?
Investors can find detailed information about daily repurchased shares and individual transactions on ING's corporate website.
