ING has completed its share buyback program that was announced on October 31, 2024. The company repurchased a total of 125,848,305 ordinary shares at an average price of €15.84, amounting to €1,993,571,438.95.
During the last week of the programme, from April 28 to April 30, 2025, ING bought 6,872,040 shares at an average price of €17.12, totaling €117,683,132.31. Additionally, ING disclosed plans for a new share buyback scheme, aiming to repurchase shares up to a total of €2.0 billion.
The purpose is to adjust ING's CET1 ratio closer to its target. As of the end of the first quarter of 2025, the CET1 ratio stood at 13.6%, exceeding the requirement of 10.76%. The new buyback is expected to affect the CET1 ratio by approximately 59 basis points. The program starts on May 2, 2025, and will potentially continue until October 27, 2025.
Endorsement from the European Central Bank (ECB) has been received for the program. It will be carried out in accordance with the Market Abuse Regulation and within the 20% limit of issued shares, as authorized by the shareholders' meeting on April 22, 2025. ING has secured a non-discretionary agreement with a financial intermediary for implementing the buyback.
Details of daily repurchases, individual transactions, and weekly reports are available.