RTTNews | Oct 1, 2021 01:23AM EDT

01:22 Friday, October 1, 2021 (RTTNews.com) - ING Group (ING) announced Friday a share buyback programme with total value of 1.74 billion euros. The company plans to repurchase a number of shares not exceeding the authority granted by the general meeting of shareholders, i.e., 10% of the issued shares.

The share buyback program will commence on October 5 and is expected to end no later than May 5, 2022. The company aims to reduce the share capital of ING.

ING Group's CET1 ratio was 15.7% at the end of the second quarter of 2021. The company said the announced share buyback program will be done from capital reserved outside of regulatory capital and will not impact CET1 ratio.

Read the original article on RTTNews ( https://www.rttnews.com/3229698/ing-to-buy-back-1-74-bln-shares-quick-facts.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved