ING completes share buyback programme
ING completes share buyback programme
ING announced today that it has completed the share buyback
programme which was announced on 2 May 2024. The total number of
ordinary shares repurchased under the programme is 155,990,753 at
an average price of €15.94 for a total consideration of
€2,486,329,696.95.
During the last week of the programme, from 7 October 2024 up to
and including 11 October 2024, 11,348,429 shares were purchased.
These shares were repurchased at an average price of €15.78 for a
total amount of €179,022,796.36.
As previously announced, we will give an update on our capital
planning with the presentation of our third quarter 2024 results,
which is scheduled for 31 October 2024.
For detailed information on the daily repurchased shares,
individual share purchase transactions and weekly reports, see the
ING website
at https://www.ing.com/Investor-relations/Share-information/Share-buyback-programme.htm
.
Note for editors
For more on ING, please visit www.ing.com. Frequent news updates
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Press
enquiries |
|
Investor
enquiries |
Christoph
Linke |
|
ING Group
Investor Relations |
+31 20 576
5000 |
|
+31 20 576
6396 |
Christoph.Linke@ing.com |
|
Investor.Relations@ing.com |
|
|
|
ING PROFILE
ING 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 60,000 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).
ING aims to put sustainability at the heart of what we do. ING’s
sustainability efforts have been recognised externally by
environmental, social and governance (ESG) rating agencies and
other benchmarks. In 2023, Sustainalytics assessed our management
of ESG material risk as ‘strong’. In August 2024, ING's ESG rating
by MSCI was reconfirmed as 'AA'. ING’s shares are included in the
sustainability indices of Euronext, STOXX, FTSE Russell and
Morningstar. Society is transitioning to a low-carbon economy. So
are our clients, and so is ING. We finance a lot of sustainable
activities, but we still finance more that’s not. Follow our
progress on ing.com/climate.
Important legal information
Elements 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
(‘Market Abuse Regulation’).
ING Group’s annual accounts are prepared in accordance with
International Financial Reporting Standards as adopted by the
European Union (‘IFRS- EU’). In preparing the financial information
in this document, except as described otherwise, the same
accounting principles are applied as in the 2023 ING Group
consolidated annual accounts. All figures in this document are
unaudited. Small differences are possible in the tables due to
rounding.
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) changes
affecting interest rate levels (3) any default of a major market
participant and related market disruption (4) changes in
performance of financial markets, including in Europe and
developing markets (5) fiscal uncertainty in Europe and the United
States (6) discontinuation of or changes in ‘benchmark’ indices (7)
inflation and deflation in our principal markets (8) changes in
conditions in the credit and capital markets generally, including
changes in borrower and counterparty creditworthiness (9) failures
of banks falling under the scope of state compensation schemes (10)
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 (11)
geopolitical risks, political instabilities and policies and
actions of governmental and regulatory authorities, including in
connection with the invasion of Russia into Ukraine and the related
international response measures (12) legal and regulatory risks in
certain countries with less developed legal and regulatory
frameworks (13) prudential supervision and regulations, including
in relation to stress tests and regulatory restrictions on
dividends and distributions (also among members of the group) (14)
ING’s ability to meet minimum capital and other prudential
regulatory requirements (15) changes in regulation of US
commodities and derivatives businesses of ING and its customers
(16) application of bank recovery and resolution regimes, including
write down and conversion powers in relation to our securities (17)
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 (18) changes in tax laws and regulations and
risks of non-compliance or investigation in connection with tax
laws, including FATCA (19) 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 and
including any risks as a result of incomplete, inaccurate, or
otherwise flawed outputs from the algorithms and data sets utilized
in artificial intelligence (20) risks and challenges related to
cybercrime including the effects of cyberattacks and changes in
legislation and regulation related to cybersecurity and data
privacy, including such risks and challenges as a consequence of
the use of emerging technologies, such as advanced forms of
artificial intelligence and quantum computing (21) changes in
general competitive factors, including ability to increase or
maintain market share (22) inability to protect our intellectual
property and infringement claims by third parties (23) inability of
counterparties to meet financial obligations or ability to enforce
rights against such counterparties (24) changes in credit ratings
(25) business, operational, regulatory, reputation, transition and
other risks and challenges in connection with climate change and
ESG-related matters, including data gathering and reporting (26)
inability to attract and retain key personnel (27) future
liabilities under defined benefit retirement plans (28) failure to
manage business risks, including in connection with use of models,
use of derivatives, or maintaining appropriate policies and
guidelines (29) 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 (30) 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 ESG-related material that has been
prepared by ING on the basis of publicly available information,
internally developed data and other third-party sources believed to
be reliable. ING has not sought to independently verify information
obtained from public and third-party sources and makes no
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reasonableness or reliability of such information.
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and should not be confused with, such term as defined in the Market
Abuse Regulation or as defined for Securities and Exchange
Commission (‘SEC’) reporting purposes. Any issues identified as
material for purposes of ESG in this document are therefore not
necessarily material as defined in the Market Abuse Regulation or
for SEC reporting purposes. In addition, there is currently no
single, globally recognized set of accepted definitions in
assessing whether activities are “green” or “sustainable.” Without
limiting any of the statements contained herein, we make no
representation or warranty as to whether any of our securities
constitutes a green or sustainable security or conforms to present
or future investor expectations or objectives for green or
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as a result of new information or for any other reason.
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solicitation of an offer to purchase, any securities in the United
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- ING completes share buyback programme
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