Recent Developments in ING's Share Buyback Efforts

Insights into ING's Share Buyback Programme

ING has been actively progressing with its €2.5 billion share buyback initiative, a significant move announced earlier this year. Recently, they disclosed that a total of 3,282,664 shares were repurchased during the week of 9 September 2024 through 13 September 2024. This decision reflects a strategic effort to enhance shareholder value and indicates strong market confidence in the company's growth prospects.

Repurchase Details and Financial Impact

The shares were acquired at an average price of €16.20, amounting to a total expenditure of approximately €53.17 million. This buyback is part of ING's broader strategy to reduce its share capital, making their operations more attractive to existing and potential investors. Notably, with 134,313,322 ordinary shares bought back at an average price of €15.92, the programme has successfully utilized around 85.55% of its approved budget.

Understanding ING's Business Objectives

The share buyback not only emphasizes ING's financial strength but also reflects the company’s commitment to delivering value to its stakeholders. By concentrating on share repurchases, ING aims to signal its robust financial position, which bodes well for investor relationships and market perception. Additionally, it aligns with their core mission to empower people in managing their finances effectively.

Focus on Sustainability and Corporate Responsibility

In today's market, sustainability stands as a transformative pillar for businesses, and ING is no exception. The bank has emphasized putting sustainability at the heart of its operations. Their efforts have garnered recognition from numerous environmental, social, and governance (ESG) rating agencies. In the recent assessment by Sustainalytics, ING's management of ESG-related risks received a strong rating, reflecting their dedication to sustainable practices.

ESG Ratings and Recognition

ING’s environmental commitments have not only been acknowledged by various agencies but also include a reaffirmation of their ESG rating as 'AA' by MSCI in July 2023. Their inclusion in several sustainability indices such as Euronext and FTSE Russell further highlights their position as a responsible and forward-thinking financial institution.

Contacting ING: Press and Investor Relations

For those interested in learning more or needing further information regarding ING’s corporate strategies or financial results, they have designated contact points for media and investor inquiries. Christoph Linke leads press inquiries, while the ING Group Investor Relations team is available to discuss financial matters and investments.

Potential investors and media representatives can reach Christoph at +31 20 576 5000 or via email at Christoph.Linke@ing.com. Investor relations can be contacted at +31 20 576 6396 or through Investor.Relations@ing.com.

Frequently Asked Questions

What is the purpose of ING's share buyback programme?

The primary goal of the share buyback programme is to enhance shareholder value by reducing the outstanding share capital.

How much has ING spent on its share buyback initiative?

ING has executed a total of approximately €2.14 billion in share repurchases as part of its ongoing buyback programme.

What sustainability ratings has ING received recently?

ING has been rated 'AA' by MSCI and has received a 'strong' rating from Sustainalytics for its ESG risk management.

Where can I find more information about ING?

Additional details regarding ING can be found on their official website, which provides insights into their financial performance and corporate responsibility initiatives.

Who can I contact for investor inquiries at ING?

For investor relations, you can contact ING Group Investor Relations via email at Investor.Relations@ing.com or by phone at +31 20 576 6396.

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