ING completed a €1.1 billion share buyback program, repurchasing 1,902,307 shares during the week of November 3‑7, 2025 at an average price of €22.03, totaling €41.9 million. The buyback, launched on October 30, is the latest tranche of a €1.6 billion capital‑return package that also includes a €0.5 billion special dividend.
The repurchase follows a strong third‑quarter earnings report in which ING posted net income of €1.787 billion and basic earnings per share of €0.60, up from €1.880 billion and €0.59 a year earlier. The earnings beat analysts’ consensus of €1.660 billion and a basic EPS estimate of €0.57, reflecting disciplined cost management and robust fee income growth of 12 % year‑over‑year.
Revenue growth was driven by solid performance in both Retail Banking and Wholesale Banking. Retail lending expanded as consumer demand for mortgages and personal loans remained resilient, while Wholesale Banking benefited from increased corporate borrowing and fee‑based services. The mix shift toward higher‑margin fee income helped offset modest pressure on interest‑rate margins.
CEO Steven van Rijswijk said the quarter demonstrated the bank’s ability to accelerate growth, increase impact, and deliver customer value, and that ING is on track to reach its 2027 financial targets. He highlighted the strong capital position, noting a CET1 ratio of 13.4 % at the end of Q3, well above regulatory requirements, and emphasized the importance of the capital‑return package in maintaining shareholder value.
Investors welcomed the buyback and earnings beat, viewing the €1.6 billion distribution as a signal of confidence in the bank’s capital generation and future growth prospects. The program is part of ING’s broader strategy to converge its CET1 ratio toward the target of approximately 13 % while continuing to invest in digital and fee‑income initiatives.
By reducing the share count, the buyback is expected to lift earnings per share and enhance shareholder returns. The €1.1 billion tranche is separate from the earlier €2 billion buyback completed in October, underscoring ING’s commitment to returning value to shareholders while preserving a robust capital base.
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