Update on ING's Share Buyback Program
ING has made significant strides in its share buyback program, aimed at enhancing shareholder value. The initiative, valued at €2.0 billion, continues to make progress as the company focuses on acquiring its own shares.
Recent Purchases and Financial Impact
During a recent week, a total of 5,593,653 shares were repurchased, indicating a proactive approach to share reduction. These transactions occurred between mid-December, culminating in significant financial figures — the shares have an average price of €14.76, culminating in an impressive total of approximately €82.6 million spent.
Achievements to Date
With these recent repurchases, the program now accounts for 45,266,817 ordinary shares repurchased at an average price of €14.97, leading to a total commitment of around €677.8 million. This represents approximately 33.89% of the maximum total value aimed for through the buyback initiative, affirming ING's commitment to reducing its share capital.
Commitment to Sustainability
In addition to its financial strategies, ING is dedicated to sustainability, integrating environmental, social, and governance (ESG) principles deeply into its operations. With over 60,000 employees delivering banking services across more than 40 countries, ING positions itself not only as a financial leader but as a responsible corporate citizen.
Recognizing ESG Initiatives
ING's ongoing commitment to sustainability has earned it an 'AA' ESG rating from MSCI for the fifth consecutive year, reaffirming its robust management of ESG material risks. Moreover, the company's approach attracts attention from significant sustainability and ESG index products from leading providers like Euronext and FTSE Russell, showing an ongoing effort toward a low-carbon economy.
Open Channels for Communication
For any press-related inquiries, Christoph Linke is the point of contact, reachable at +31 20 576 5000 or via email at Christoph.Linke@ing.com. Investor-related questions should be directed to the ING Group Investor Relations team at +31 20 576 6396 or Investor.Relations@ing.com.
About ING Group
ING is a major global financial institution based in Europe. Offering an array of banking services through its operating company, ING Bank, the group's mission is to empower individuals and businesses. Its commitment to innovation and sustainability keeps it at the forefront of the banking industry.
Frequently Asked Questions
What is the purpose of ING's share buyback program?
ING's share buyback program aims to enhance shareholder value by reducing the number of outstanding shares.
How many shares has ING repurchased so far?
To date, ING has repurchased approximately 45.27 million shares under this buyback program.
What is the average price at which ING has bought back its shares?
The average price for the shares repurchased under the program is €14.97.
What does ING do for sustainability?
ING integrates sustainability into its core values and has achieved strong ESG ratings, reflecting its commitment to sustainable banking practices.
How can investors reach ING for inquiries?
Investors can reach ING's Investor Relations via email at Investor.Relations@ing.com or by calling +31 20 576 6396.
