Recent Progress on ING's Share Buyback Programme
ING has made significant strides in its €2.5 billion share buyback programme, which was officially launched earlier this year. As part of this initiative, the company reported the repurchase of 3,052,646 shares within the week leading up to September 20, 2024. This diligent effort is not only a reflection of ING's commitment to its shareholders but also its strategic financial management.
Details of the Share Repurchase
The shares were acquired at an average cost of €16.52, amounting to a substantial total of €50,423,511.08. The overall aim of this buyback programme is to reduce ING's share capital, enhancing the overall value for its shareholders. Thus far, the total number of shares repurchased has reached 137,365,968, with an average purchase price of €15.94, totaling €2,189,242,969.11. Remarkably, around 87.57% of the maximum mandated value for this buyback plan has already been executed.
Financial Health and Corporate Governance
As a global financial institution, ING Group maintains a strong foothold in the competitive European banking sector. With more than 60,000 employees working across over 40 countries, ING Bank is dedicated to empowering its customers in both personal and professional endeavors. This focus on client service and financial stewardship reinforces ING's reputation as a forward-thinking institution.
Commitment to Sustainability
ING is not just focused on financial gains; it actively aims to incorporate sustainability into its core operations. The bank's dedication has garnered recognition from various environmental, social, and governance (ESG) rating agencies. In a recent evaluation by Sustainalytics, ING’s management of ESG risks was rated as 'strong', and in July 2023, its ESG rating from MSCI was reaffirmed at 'AA'. Furthermore, ING shares are featured in several sustainability indices, underscoring its commitment to responsible banking practices.
Contact and Investor Relations
For any inquiries, press and investor relations professionals can reach out directly. Christoph Linke is available for press questions at +31 20 576 5000, and for investor-related inquiries, ING Group’s Investor Relations team can be contacted at +31 20 576 6396. Email communications can also be established at Christoph.Linke@ing.com for press and Investor.Relations@ing.com for investors.
Frequently Asked Questions
What is the total value of ING's share buyback programme?
ING's share buyback programme is valued at €2.5 billion.
How many shares has ING repurchased to date?
As of now, a total of 137,365,968 shares have been repurchased under the programme.
What is the average purchase price for the repurchased shares?
The average purchase price for the repurchased shares is €15.94.
How does ING integrate sustainability into its operations?
ING incorporates sustainability by aligning its business practices with ESG standards and maintaining transparency in its operations.
Who should I contact for more information about ING's investor relations?
For inquiries related to investor relations, you can contact +31 20 576 6396 or email Investor.Relations@ing.com.
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