Will cut CET1 by 77 basis points (Il Sole 24 Ore Radiocor) - Amsterdam, 02 May - The Dutch financial services group ING announced a 2.5 billion euro share buyback programme to reduce its common equity tier one (CET1) ratio towards its target of around 12.5%.

ING 's CET1 ratio was 14.8% at the end of the first quarter of 2024 compared with a prevailing CET1 ratio requirement of 10.94%.

The share buyback programme will have an impact of approximately 77 basis points on its CET1 ratio. The programme commences on May 2 and is expected to end no later than October 29.

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(RADIOCOR) 02-05-24 19:17:00 (0625) 5 NNNN