Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 218

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 16E
Chunk 218
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 exceeded 100% due to performance arrangements, including the average price per share, with the executing broker for the programme. The excess purchases were funded by the executing broker. The programme is executed by an intermediary to allow for purchases in the open market during both open and closed periods. The purpose of the share buyback programme is to reduce the share capital of ING. The shares have been cancelled in April 2024.
    On 4 March 2024, ING announced a share buyback programme for EUR 50 million. The programme was completed on 5 March 2024. The total number of shares repurchased under the programme is 3,318,806 ordinary shares at an average price of EUR 12.99 per share for a total consideration of EUR 43 million. The programme is executed by ING during a two day period. The purpose of the share buyback programme was to meet obligations under the employee share-based compensation plans. 
    On 2 May 2024, ING announced a share buyback programme for a maximum total amount of EUR 2,500 million. The programme was completed on 11 October 2024. The total number of shares repurchased under the programme is 155,990,753 ordinary shares at an average price of 15.94 per share for a total consideration of EUR 2,486 million. The programme is executed by an intermediary to allow for purchases in the open market during both open and closed periods. The purpose of the share buyback programme is to reduce the share capital of ING. The shares have been cancelled in November and December 2024.

    On 31 October 2024, ING announced an additional distribution for a maximum total amount of EUR 2,500 million. The distribution consists of a share buyback programme for a maximum total amount of EUR 2,000 million and a cash payment of EUR 500 million. The share buyback programme is expected to end no later than 30 April 2025. The total number of shares repurchased under the programme as per 31 December 2024 is 50,476,638 ordinary shares at an average price of EUR 14.97 per share for a total consideration of EUR 756 million with EUR 1,244 million remaining to be purchased in 2025. The programme is executed by an intermediary to allow for purchases in the open market during both open and closed periods. The purpose of the additional distribution is to converge our CET1 ratio towards our target