ING Groep N.V. Advances Share Buyback Programme

ING's Share Buyback Programme Gains Momentum

ING Groep N.V., the Dutch multinational banking and financial services corporation, has made substantial progress in its ongoing share buyback programme. The company announced significant developments for the week of 1 July 2024 to 5 July 2024, demonstrating its commitment to enhancing shareholder value 1

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Weekly Repurchase Details

During the specified week, ING repurchased a total of 2,845,154 shares. The average purchase price per share was €14.11, resulting in a total investment of €40,125,025.72 for the week 2

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. This move is part of the company's larger €1.5 billion share buyback programme, which was announced on 11 May 2024 and commenced on 15 May 2024.

Cumulative Progress

Since the inception of the buyback programme, ING has made substantial headway. As of 5 July 2024, the company has repurchased a cumulative total of 24,960,154 shares. The total consideration for these shares amounts to €349,125,025.72, representing approximately 23.28% of the maximum total value of the share buyback programme 1

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Transparency and Regulatory Compliance

In line with regulatory requirements and to maintain transparency, ING has been providing weekly updates on the progress of its share buyback programme. The company has been reporting the aggregate of repurchased shares per day, the average purchase price, the total amount of repurchases, and the total number and capital amount of shares repurchased so far 2

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Market Reaction and Future Outlook

The share buyback programme is often viewed positively by investors as it can lead to increased earnings per share and potentially boost the stock price. As ING continues to execute this programme, market analysts and shareholders will be closely monitoring its impact on the company's stock performance and overall financial health.

Regulatory Framework

It's worth noting that the share buyback programme is being executed within the limitations of the Market Abuse Regulation and the conditions of the authorisation granted by the European Central Bank. This ensures that the buyback adheres to all relevant financial regulations and maintains the stability of the banking institution 1

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