Share buyback programme
ING provides weekly updates on the progress of the programme via a press release and reports in this section of the website.
Announced in October 2024
ING announced in October 2024 an additional shareholder distribution of up to €2.5 billion. The distribution consists of a share buyback programme for a maximum total amount of €2 billion and a cash dividend payment of €500 million. The purpose of the additional distribution is to converge our CET1 ratio towards our target of around 12.5%.
ING Group’s CET1 ratio was 14.3% at the end of the third quarter of 2024, which is well above the prevailing CET1 ratio requirement of 10.71%. The additional distribution will have an expected pro-forma impact of approximately 76 bps on our CET1 ratio. The share buyback programme has started on 31 October 2024 and is expected to end no later than 30 April 2025.
The ECB has approved the distribution, and the share buyback programme 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 2024. ING has entered 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 on the investors section of the ING website.
Completed in October 2024
“On 2 May 2024, ING announced a share buyback programme for a maximum total amount of €2.5 billion. The share buyback programme was completed on 11 October 2024 for a total consideration of €2,486,329,696.95. The total number of ordinary shares repurchased under the programme is 155,990,753 at an average price of €15.94. The purpose of the programme was to converge our CET1 ratio towards our target of around 12.5%.
The ECB has approved the programme, which has been 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 2024.
ING has provided weekly updates on the progress of the programme via a press release and reports in this section of the website.”
Completed in March 2024
On 4 March 2024, ING announced a share buyback programme for a maximum total amount of EUR 50 million. The share buyback programme was completed on 5 March 2024 for a total consideration of EUR 43 million. The purpose of the share repurchase programme was to meet obligations under the share-based compensation plans.
The ECB has approved the repurchase, 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.
Completed in February 2024
ING announced today that it has completed the share buyback programme which was announced on 2 November 2023. The total number of shares repurchased under the programme is 194,812,543 ordinary shares at an average price of €12.87 for a total consideration of €2,508,135,596.18.
During the last week of the programme, up to and including 5 February 2024, 2,977,217 shares were purchased. These shares were repurchased at an average price of €12.14 for a total amount of €36,140,139.44. In total 100.33% of the announced total value of the programme of €2.5 billion was purchased.
The purchases exceeded 100% due to performance arrangements, including the average price per share, with our executing broker for the programme. The broker repurchased shares until the performance arrangements were fulfilled. The total consideration for ING was limited to €2.5 billion. The excess purchases above this amount were funded by the executing broker. Based on the total programme period, the effective average price for ING was €12.83.
As previously announced, we will give an update on our capital planning with the presentation of our first quarter 2024 results, which is scheduled for 2 May 2024.
Detailed information on the daily repurchased shares, individual share purchase transactions and weekly reports, are in this section of the website.
Completed in October 2023
On 11 May 2023, ING announced a share buyback programme for €1.5 billion. The share buyback programme was completed on 13 October 2023 for a total consideration of €1,566 million.
In total 104.41% of the announced total value of the programme of €1.5 billion was purchased. The purchases exceeded 100% due to performance arrangements, including the average price per share, with our executing broker for the programme. The broker repurchased shares until the performance arrangements were fulfilled. The total consideration for ING was limited to €1.5 billion. The excess purchases above this amount were funded by the executing broker. Based on the total programme period, the effective average price for ING was €12.36.
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 24 April 2023 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.
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.
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.
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.
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.