ING's Bold Move: Advancing €2 Billion Share Buyback Efforts

Overview of ING's Share Buyback Programme

Recently, ING announced significant progress in its ongoing share buyback programme, which is set at €2.0 billion. The company has successfully repurchased a remarkable 3,603,185 shares just within the week from December 30 to January 3. This initiative is not just a financial maneuver; it reflects ING's commitment to enhancing shareholder value and demonstrates the company's strategic approach to managing its stock capital.

Financial Impact of the Buyback

The repurchased shares were acquired at an average price of €15.10, amounting to an impressive total of €54,411,876.12. To provide further insight, since the inception of this buyback programme, ING has repurchased approximately 52,033,958 ordinary shares at an average price of €14.98. This substantial investment totals around €779,208,205.28, highlighting the company’s robust approach to maintaining financial health while reinforcing investor loyalty.

Goals of the Buyback Programme

The primary objective of ING’s share buyback programme is to reduce its share capital effectively. This is a strategic decision aimed at boosting shareholder equity by decreasing the number of outstanding shares. As of now, approximately 38.96% of the buyback's total value has been executed, signaling a strong commitment towards achieving financial targets and improving the overall market perception of ING.

Engagement with Investors

To keep stakeholders informed, ING has committed to transparency regarding the buyback's progress. Details on daily repurchase activities, individual transactions, and weekly reports are made accessible through ING's investor relations platform. This open communication serves to reinforce investor confidence and demonstrates the company's accountability in executing its strategies.

Contact Information for Inquiries

For media inquiries, Christoph Linke is the primary contact at ING, reachable at +31 20 576 5000 or via email at Christoph.Linke@ing.com. For investor relations, the team can be contacted at +31 20 576 6396 or through Investor.Relations@ing.com. This accessibility enhances stakeholder relations and provides clarity about the company's operations.

About ING Group

ING Group is a prominent global financial institution based primarily in Europe, offering a variety of banking services through ING Bank. With over 60,000 employees, the bank operates in more than 40 countries, striving to help individuals and businesses stay ahead in their financial lives. The dedication to sustainability is evident in ING’s operations, as the company integrates eco-friendly measures in its business model.

Sustainability Efforts

ING is at the forefront of incorporating sustainability into its business framework. The bank aims to lead in financing sustainable projects, reflecting its dedication to a low-carbon economy. Independent auditors affirm ING's efforts, as the bank has received an 'AA' ESG rating from MSCI. Their current ESG risk rating stands at 17.2, indicating strong management of environmental, social, and governance risks. Furthermore, ING is actively included in significant sustainability indices, demonstrating its commitment to responsible finance.

Conclusion

ING's proactive measures within its share buyback programme not only highlight the company's financial strength but also provide a reassuring signal to investors about its future outlook. As ING continues to navigate the challenges of the financial landscape, its focus on sustainability and shareholder value positions it well for continued success in the future.

Frequently Asked Questions

What is the total amount allocated for ING’s share buyback program?

ING has allocated €2.0 billion for its share buyback program, reflecting its strategic commitment to enhancing shareholder value.

How many shares has ING repurchased so far?

As of the recent update, ING has repurchased a total of approximately 52,033,958 ordinary shares under its buyback programme.

What is the average price at which ING shares have been repurchased?

The average price for the shares repurchased by ING is €14.98, showing an effective strategy in acquiring their own shares.

Why is ING executing a share buyback programme?

The primary goal of the share buyback is to reduce ING’s share capital, which ultimately can increase shareholder equity and boost market confidence.

How does ING address sustainability in its operations?

ING incorporates sustainability into its financial practices and has been recognized for its ESG efforts, receiving a commendable rating from MSCI, reflecting its commitment to responsible banking.

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