ING: start of share buyback program

(CercleFinance.com) - Coinciding with the publication of its quarterly results, ING announces a share buyback program for a maximum total amount of 2.
5 billion euros, aimed at bringing its CET1 ratio closer to its target of around 12.5%.

The Group specifies that this share buyback program will have an impact of around 77 basis points on its CET1 ratio, which stood at 14.8% at the end of the first quarter of 2024, a level well above the 10.94% requirement.

The program therefore begins on May 2 and is due to end on October 29 at the latest. The Dutch bank has entered into a non-discretionary agreement with a financial intermediary to carry out the buybacks.

Copyright (c) 2024 CercleFinance.com. All rights reserved.