ING announces €380 million share buyback programme
06 Mai 2022 - 07:05AM
GlobeNewswire Inc.
ING announces
€380
million share
buyback programme
ING announced today the start of a share buyback programme under
which it plans to repurchase ordinary shares of ING Groep, with a
maximum total value of €380 million. The share buyback is part of a
€ 1.25 billion programme to return capital to our shareholders.
Next to the share buyback it consists of a €870 million cash
dividend payment.
The share buyback programme will commence on 12 May 2022 and is
expected to end no later than 2 November. The purpose of the
share buyback programme is to reduce the share capital of ING.
The programme is a next step in converging our CET1 ratio
towards our ambition level and follows the €1,744 million share
buyback programme, which was completed on 28 February 2022.
ING Group’s CET1 ratio was 14.9% at the end of the first quarter
of 2022 which is well above the prevailing CET1 ratio requirement
of 10.51%. Together with the additional cash dividend of €0.232 per
share, which will be paid on 18 May 2022, the announced share
buyback programme will have an expected impact of roughly 37 bps on
our CET1 ratio.
The ECB has approved the share buyback programme, which will be
executed in compliance with the Market Abuse Regulation and 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. ING has 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 on the Investor Relations section of the
ING website: http://www.ing.com/share-buyback-programme.
Note for editors
For further information on ING, please visit www.ing.com.
Frequent news updates can be found in the Newsroom or via the
@ING_news Twitter feed. Photos of ING operations, buildings and its
executives are available for download at Flickr. ING presentations
are available at SlideShare.
| Press
enquiries |
|
Investor
enquiries |
| Christoph
Linke |
|
ING Group
Investor Relations |
| +31 20 576
4315 |
|
Investor.Relations@ing.com |
|
Christoph.Linke@ing.com |
|
|
| |
|
|
|
ING PROFILEING is a global financial institution
with a strong European base, offering banking services through its
operating company ING Bank. The purpose of ING Bank is empowering
people to stay a step ahead in life and in business. ING Bank’s
more than 57,000 employees offer retail and wholesale banking
services to customers in over 40 countries.ING Group shares are
listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels
and on the New York Stock Exchange (ADRs: ING US,
ING.N).Sustainability forms an integral part of ING’s strategy,
evidenced by ING’s leading position in sector benchmarks by
Sustainalytics and MSCI and our ‘A-list’ rating by CDP. ING Group
shares are included in major sustainability and Environmental,
Social and Governance (ESG) index products of leading providers
STOXX, Morningstar and FTSE Russell. In January 2021, ING received
an ESG evaluation score of 83 ('strong') from S&P Global
Ratings. IMPORTANT LEGAL INFORMATIONElements
of this press release contain or may contain information about ING
Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1)
to (4) of EU Regulation No 596/2014.Certain of the statements
contained herein are not historical facts, including, without
limitation, certain statements made of future expectations and
other forward-looking statements that are based on management’s
current views and assumptions and involve known and unknown risks
and uncertainties that could cause actual results, performance or
events to differ materially from those expressed or implied in such
statements. Actual results, performance or events may differ
materially from those in such statements due to a number of
factors, including, without limitation: (1) changes in general
economic conditions and customer behaviour, in particular economic
conditions in ING’s core markets, including changes affecting
currency exchange rates and the regional and global economic impact
of the invasion of Russia into Ukraine and related international
response measures (2) effects of the Covid-19 pandemic and related
response measures, including lockdowns and travel restrictions, on
economic conditions in countries in which ING operates, on ING’s
business and operations and on ING’s employees, customers and
counterparties (3) changes affecting interest rate levels (4) any
default of a major market participant and related market disruption
(5) changes in performance of financial markets, including in
Europe and developing markets (6) fiscal uncertainty in Europe and
the United States (7) discontinuation of or changes in ‘benchmark’
indices (8) inflation and deflation in our principal
markets (9) changes in conditions in the credit and capital markets
generally, including changes in borrower and counterparty
creditworthiness (10) failures of banks falling under the scope of
state compensation schemes (11) non-compliance with or changes in
laws and regulations, including those concerning financial
services, financial economic crimes and tax laws, and the
interpretation and application thereof (12) geopolitical risks,
political instabilities and policies and actions of governmental
and regulatory authorities, including in connection with the
invasion of Russia into Ukraine and related international response
measures (13) legal and regulatory risks in certain countries with
less developed legal and regulatory frameworks (14) prudential
supervision and regulations, including in relation to stress tests
and regulatory restrictions on dividends and distributions (also
among members of the group) (15) regulatory consequences of the
United Kingdom’s withdrawal from the European Union, including
authorizations and equivalence decisions (16) ING’s ability to meet
minimum capital and other prudential regulatory requirements (17)
changes in regulation of US commodities and derivatives businesses
of ING and its customers (18) application of bank recovery and
resolution regimes, including write down and conversion powers in
relation to our securities (19) outcome of current and future
litigation, enforcement proceedings, investigations or other
regulatory actions, including claims by customers or stakeholders
who feel misled or treated unfairly, and other conduct issues (20)
changes in tax laws and regulations and risks of non-compliance or
investigation in connection with tax laws, including FATCA (21)
operational and IT risks, such as system disruptions or failures,
breaches of security, cyber-attacks, human error, changes in
operational practices or inadequate controls including in respect
of third parties with which we do business (22) risks and
challenges related to cybercrime including the effects of
cyberattacks and changes in legislation and regulation related to
cybersecurity and data privacy (23) changes in general competitive
factors, including ability to increase or maintain market share
(24) inability to protect our intellectual property and
infringement claims by third parties (25) inability of
counterparties to meet financial obligations or ability to enforce
rights against such counterparties (26) changes in credit ratings
(27) business, operational, regulatory, reputation, transition and
other risks and challenges in connection with climate change and
ESG-related matters (28) inability to attract and retain key
personnel (29) future liabilities under defi ned benefit retirement
plans (30) failure to manage business risks, including in
connection with use of models, use of derivatives, or maintaining
appropriate policies and guidelines (31) changes in capital and
credit markets, including interbank funding, as well as customer
deposits, which provide the liquidity and capital required to fund
our operations, and (32) the other risks and uncertainties detailed
in the most recent annual report of ING Groep N.V. (including the
Risk Factors contained therein) and ING’s more recent disclosures,
including press releases, which are available on www.ING.com.This
document may contain inactive textual addresses to internet
websites operated by us and third parties. Reference to such
websites is made for information purposes only, and information
found at such websites is not incorporated by reference into this
document. ING does not make any representation or warranty with
respect to the accuracy or completeness of, or take any
responsibility for, any information found at any websites operated
by third parties. ING specifically disclaims any liability with
respect to any information found at websites operated by third
parties. ING cannot guarantee that websites operated by third
parties remain available following the publication of this
document, or that any information found at such websites will not
change following the filing of this document. Many of those factors
are beyond ING’s control.Any forward looking statements made by or
on behalf of ING speak only as of the date they are made, and ING
assumes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information
or for any other reason.This document does not constitute an offer
to sell, or a solicitation of an offer to purchase, any securities
in the United States or any other jurisdiction. |
- ING announces €380 million share buyback programme
ING Groep NV (EU:INGA)
Historical Stock Chart
Von Feb 2023 bis Mär 2023
ING Groep NV (EU:INGA)
Historical Stock Chart
Von Mär 2022 bis Mär 2023
