ING announced the start of a share repurchase program under which it plans to repurchase ordinary shares of ING Groep N.V., for a maximum total amount of EUR 50M. The purpose of the share repurchase program 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 program has negligible impact on our CET1 ratio. The share repurchase will commence on March 1 and is expected to end no later than March 7.
Published first on TheFly
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