ING Groep N.V. (ING), a Dutch banking and financial services firm, on Friday announced a new share buyback programme worth up to 2.0 billion euros to repurchase its ordinary shares.
The share buyback programme will start on May 2 and run through October 27.
The programme aims to bring the company's CET1 ratio closer to its target level. It is expected to reduce the CET1 ratio by around 59 basis points.
The company has completed its previous share buyback programme, which was announced on October 31, 2024.
The total number of ordinary shares repurchased under the programme is 125.85 million at an average price of 15.84 euros, for a total consideration of around 1.99 billion euros.
On Thursday, ING had closed 0.41% lesser at $19.29 on the New York Stock Exchange.
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