Share buyback programme
Share buyback programme – announced in May 2023
On 11 May 2023, ING announced a share buyback programme for a maximum total amount of EUR 1.5 billion. The share buyback programme commences on 12 May 2023 and is expected to end no later than 18 October 2023.
The purpose of the share buyback programme is to reduce the share capital of ING. It is a next step in converging our CET1 ratio towards our target of around 12.5% by 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 10% of the issued shares as granted by the general meeting of shareholders on 24 April 2023. ING entered into a non-discretionary arrangement with a financial intermediary to conduct the buyback.
ING will provide weekly updates on the progress of the programme via a press release and reports in this section of the website.
Share buyback programme – completed in March 2023
On 1 March 2023, ING announced a share buyback programme for a maximum total amount of EUR 50 million. The share buyback programme was completed on 2 March 2023 for a total consideration of EUR 42 million.
The purpose of the share repurchase programme was to meet obligations under the share-based compensation plans. After fulfilling delivery obligations under the employee share-based compensation scheme, the buyback programme had negligible impact on our CET1 ratio.
The ECB had approved the repurchase, which was executed in compliance with the Market Abuse Regulation and within the limitations of the existing authority to acquire a maximum of 10% of the issued shares as granted by the general meeting of shareholders on 25 April 2022.
Share buyback programme – completed in December 2022
On 3 November 2022, ING announced a share buyback programme for a maximum total amount of EUR 1.5 billion. The program was completed on 28 December 2022 for a total consideration of EUR 1,204 million. The remainder of the total amount of EUR 1.5 billion, amounting to EUR 297 million or EUR 0.082 per share, will be paid to shareholders in cash on 16 January 2023.
The share buyback programme had been approved by the ECB and was executed within the limitations of the existing authority of a maximum of 10% of the issued shares as granted by the general meeting of shareholders on 25 April 2022 and in compliance with the Market Abuse Regulation. ING entered into a non-discretionary arrangement with a financial intermediary to conduct the buyback.
ING has provided weekly updates on the progress of the programme via a press release and reports in this section of the website.
Share buyback programme – completed in July 2022
On 6 May 2022, ING announced a share buyback programme for EUR 380 million. The programme was completed on 14 July 2022.
The share buyback programme had been approved by the ECB and was executed within the limitations of the existing authority of a maximum of 10% of the issued shares as granted by the general meeting of shareholders on 25 April 2022 and in compliance with the Market Abuse Regulation. ING entered into a non-discretionary arrangement with a financial intermediary to conduct the buyback.
ING has provided weekly updates on the progress of the programme via a press release and reports in this section of the website.
Share buyback programme – completed in February 2022
On 1 October 2021, ING announced a share buyback programme for EUR 1,744 million. The programme was completed on 25 February 2022.
The share buyback programme had been approved by the ECB and was executed within the limitations of the existing authority granted by the general meeting of shareholders on 26 April 2021 and in compliance with the Market Abuse Regulation. ING entered into a non-discretionary arrangement with a financial intermediary to conduct the buyback.
ING has provided weekly updates on the progress of the program via weekly press releases and reports in this section of the website.