ING Successfully Completes Major Share Buyback Initiative

ING Completes Share Buyback Programme

ING has officially finalized its share buyback programme, a strategic initiative that showcases the company's commitment to enhancing shareholder value. The buyback, first unveiled on May 2, has seen a substantial number of ordinary shares repurchased, indicating a robust financial position and a proactive approach to capital management.

Details of the Share Buyback

Throughout the course of the programme, ING has successfully repurchased an impressive total of 155,990,753 ordinary shares. The shares were acquired at an average price of €15.94, amounting to a considerable total investment of €2,486,329,696.95. This buyback effort not only reflects ING's efforts to return value to its shareholders but also its confidence in future growth and stability.

Recent Week Activity

In the final week of this buyback initiative, which ran from October 7 to October 11, a significant number of 11,348,429 shares were purchased. These shares were bought at an average price of €15.78, leading to a total spending of €179,022,796.36. Such substantial activity in share repurchases demonstrates the ongoing commitment ING has to optimally manage capital.

Future Capital Planning Insights

Looking ahead, ING plans to inform stakeholders and the market about its future capital plans during the announcement of its third-quarter results, expected at the end of October. This transparency in communication is vital for aligning stakeholder expectations and demonstrating the bank's strategic foresight.

Importance of Share Buybacks

Share buyback programmes often signal strong company performance and a management committed to increasing shareholder value. By repurchasing shares, ING reduces the number of shares outstanding in the market, potentially elevating the earnings per share and boosting stock prices in the long run.

ING's Commitment to Sustainability

Beyond financial transactions, ING is deeply committed to sustainability, aiming to integrate it into its core operational strategies. The bank strives to empower individuals and businesses to stay ahead in a rapidly changing financial landscape while fostering an environment that supports sustainable initiatives.

Recognitions and Ratings

ING has received positive recognition for its sustainability efforts, with a recent 'AA' ESG rating from MSCI. This endorsement highlights the bank’s dedication to environmental, social, and governance (ESG) practices, aligning its operations with the global shift toward sustainable finance.

Contact Information

For any press enquiries, please reach out to Christoph Linke at +31 20 576 5000 or via email at Christoph.Linke@ing.com. For investor enquiries, you can contact the ING Group Investor Relations team at +31 20 576 6396 or via email at Investor.Relations@ing.com.

Frequently Asked Questions

What was the reason behind ING's share buyback programme?

ING initiated the share buyback programme to enhance shareholder value, demonstrating confidence in the bank's financial health and future growth prospects.

How many shares were repurchased during the programme?

A total of 155,990,753 ordinary shares were repurchased under the programme, emphasizing ING's substantial investment in its shareholders.

What is the significance of share buybacks for a company?

Share buybacks can lead to an increase in earnings per share and potentially a rise in stock prices, making it an appealing strategy to reward shareholders.

When will ING discuss its future capital planning?

ING plans to provide insights into its future capital planning during the presentation of its third-quarter results at the end of October.

How does ING approach sustainability?

ING integrates sustainability into its business practices and aims to support the transition to a low-carbon economy through various financial initiatives.

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