ING Groep ADR Rep 1 Ord Shs ING

Buy back complete, new one announced

[prested]

ING completes share buyback and announces new programme of up to EUR2.0 billion

Friday, May 2, 2025, 1:05 AM ET

 

ING completes share buyback and announces new programme of up to EUR2.0 billion

ING completes share buyback and announces new programme of up to EUR2.0 billion

ING announced today that it has completed the share buyback programme announced on 31 October 2024. The total number of ordinary shares repurchased under the programme is 125,848,305 at an average price of EUR15.84 for a total consideration of EUR1,993,571,438.95.

During the last week of the programme, from 28 April 2025 up to and including 30 April 2025, in total 6,872,040 shares were purchased. These shares were repurchased at an average price of EUR17.12 for a total amount of EUR117,683,132.31.

Today ING announced a new share buyback programme under which it plans to repurchase ordinary shares of ING Groep N.V. for a maximum total amount of EUR 2.0 billion. The purpose of the programme is to converge our CET1 ratio towards our target.

ING Group's CET1 ratio was 13.6% at the end of the first quarter of 2025, which is well above the prevailing CET1 ratio requirement of 10.76%. The share buyback programme will have an impact of approximately 59 bps on our CET1 ratio. The programme will commence on 2 May 2025 and is expected to end no later than 27 October 2025.

The ECB has approved the programme, which will be executed in compliance with the Market Abuse Regulation and within the limitations of the existing authority to acquire a maximum of 20% of the issued shares, as granted by the general meeting of shareholders on 22 April 2025. ING has entered into a non-discretionary arrangement with a financial intermediary to conduct the buyback.