ING to Repurchase Shares for Employee Compensation

ING announced the start of a share repurchase programme under which it plans to repurchase ordinary shares of ING Groep N.V., for a maximum total amount of €50 million. The purpose of the share repurchase programme is to meet obligations under the share-based compensation plans.

ING Group’s CET1 ratio was 14.5% at the end of the fourth quarter of 2022, which is well above the prevailing CET1 ratio requirement of 10.58%. After fulfilling delivery obligations under the employee share-based compensation scheme, the buyback programme has negligible impact on our CET1 ratio.

The share repurchase will commence on 1 March 2023 and is expected to end no later than 7 March 2023.

The ECB has approved the repurchase, which will be executed in compliance with the Market Abuse Regulation and within the limitations of the existing authority to acquire a maximum of 10% of the issued shares as granted by the general meeting of shareholders on 25 April 2022.

ING will provide updates on the progress of the programme via a press release and on the Investor Relations section of the ING website: https://www.ing.com/Investor-relations/Share-information/Share-buyback-programme.htm.

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 58,000 employees off er 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).

Sustainability is an integral part of ING’s strategy, evidenced by ING’s leading position in sector benchmarks. ING’s Environmental, Social and Governance (ESG) rating by MSCI was affirmed ‘AA’ in September 2022. As of August 2022, Sustainalytics considers ING’s management of ESG material risk to be ‘strong’, and in June 2022 ING received an ESG rating of ‘strong’ from S&P Global Ratings. ING Group shares are also included in major sustainability and ESG index products of leading providers Euronext, STOXX, Morningstar and FTSE Russell.

Source – ING