ING Reports Significant Progress in Share Buyback Programme, Repurchasing Nearly 3 Million Shares

ING has shared an update regarding its ongoing share buyback programme, which was announced earlier this month. From July 15 to July 19, 2024, the bank repurchased nearly 3 million shares, totaling 2,996,684 shares. The average price for these purchases was €16.84. In total, this week’s repurchase amounted to approximately €50.5 million, contributing to ING’s broader plan to return value to its shareholders.

To date, the overall share buyback programme is focused on a total of €2.5 billion. As of now, ING has repurchased a total of around 72 million ordinary shares since the launch of the initiative, which represents approximately 46.64% of the maximum total value set for the buyback. The average price for all shares repurchased so far is €16.16, which brings the total spending to over €1.16 billion.

ING’s share buyback effort is part of a strategy to reduce its share capital. The bank encourages interested parties to visit their investor relations section online for detailed reports on daily transactions and overall progress. This initiative highlights ING’s commitment to enhancing shareholder value while maintaining a focus on its broader business objectives.