ING Announces A €2.5B Share Buyback Program
Portfolio Pulse from Benzinga Newsdesk
ING has announced a €2.5 billion share buyback program, which is expected to bring its CET1 ratio closer to the target of 12.5%. The program will commence on 3 November 2023 and is expected to end no later than 19 April 2024.
November 02, 2023 | 7:45 am
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ING's share buyback program of €2.5 billion is expected to bring its CET1 ratio closer to the target of 12.5%. This could potentially increase shareholder value and boost the stock price in the short term.
Share buyback programs are generally seen as a positive signal by the market as they often lead to an increase in the stock's price. This is because the company is effectively investing in itself, indicating confidence in its own value. Additionally, buybacks reduce the number of shares outstanding, which can increase earnings per share and, consequently, the stock price.
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