ING Groep N.V. reported significant progress in its ongoing €2.0 billion share buyback programme, with 3,075,000 shares repurchased during the week of May 19-23, 2025, at an average price of €19.04 per share for a total amount of €58,544,752.50.
The latest transaction brings the total number of shares repurchased under this programme to 17,066,183 at an average price of €18.45, representing a total consideration of €314,795,030.16. To date, approximately 15.74% of the maximum total value of the share buyback programme has been completed.
The current buyback programme, announced on May 2, 2025, follows the successful completion of a previous €2.0 billion share repurchase initiative that concluded on April 30, 2025. That programme saw ING repurchase 125,848,305 shares at an average price of €15.84.
The primary purpose of the current programme is to converge ING's CET1 ratio towards its target. At the end of the first quarter of 2025, ING Group's CET1 ratio stood at 13.6%, well above the prevailing requirement of 10.76%. The ongoing share buyback is expected to have an impact of approximately 59 basis points on the bank's CET1 ratio.
The programme, which commenced on May 2, 2025, is expected to run until October 27, 2025. It has received approval from the European Central Bank and is being executed in compliance with Market Abuse Regulation within the limitations of the existing authority to acquire a maximum of 20% of issued shares, as granted by ING's general meeting of shareholders on April 22, 2025.
This share buyback is part of ING's broader capital management strategy, which has seen the bank return over €28 billion to shareholders since 2021. For 2025, ING expects roughly stable total income, 5-10% growth in fee income, and a CET1 ratio target of 12.8-13.0%, reflecting its strong financial position despite ongoing macroeconomic uncertainties.