ING Groep N.V. (NASDAQ: ING) completed its share buyback program and announced a new repurchase initiative worth up to €1.0 billion, according to a company statement.

The Dutch bank repurchased 47,040,466 ordinary shares at an average price of €23.46 for total consideration of €1,103,554,715.12. The program, originally announced on October 30, 2025, exceeded its maximum target of €1.1 billion due to performance arrangements with the executing broker.

During the final week ending April 27, 2026, ING purchased 380,409 shares at an average price of €23.95 for €9,112,165.02. The effective average price for ING was €23.38 across the entire program period, with excess purchases above €1.1 billion funded by the executing broker.

The new €1.0 billion buyback program will commence April 30, 2026, and end no later than October 26, 2026. ING stated the purpose is to maintain its Common Equity Tier 1 (CET1) ratio in line with its target of approximately 13%.

ING's CET1 ratio stood at 13.0% at the end of the first quarter of 2026, above the prevailing requirement of 11.06%. The distribution will impact the CET1 ratio by 29 basis points, with 23 basis points already reflected in the reported first-quarter figure.

The European Central Bank has approved the distribution. The program operates under the existing shareholder authority to acquire up to 20% of issued shares, granted at the April 14, 2026 general meeting. ING will provide weekly progress updates through press releases and its website.