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How Investors May Respond To ING Groep (ENXTAM:INGA) Accelerating Its €1.10 Billion Capital-Reducing Share Buyback

Simply Wall St · 2d ago
  • ING Groep recently reported that, as part of its previously announced €1.10 billion share buyback programme, it repurchased 2,017,765 shares between 8 and 12 December 2025, bringing total repurchases to 13,399,920 shares, or about 27.13% of the programme’s maximum value.
  • The buyback, aimed at reducing ING’s share capital, highlights the bank’s ongoing focus on returning excess capital to shareholders alongside its broader digital and sustainable finance initiatives.
  • We’ll now examine how progress on this capital-reducing buyback programme could influence ING Groep’s investment narrative and future capital return expectations.

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ING Groep Investment Narrative Recap

To own ING Groep, you need to believe in its ability to convert a strong digital and sustainable banking franchise into consistent earnings, despite macro and regulatory headwinds. The current €1.10 billion buyback progress looks incremental rather than a material near term catalyst, while the biggest immediate risk remains margin and revenue pressure from subdued wholesale loan demand and FX driven swings in net interest income.

The most relevant recent announcement here is ING’s Q3 2025 result, which showed modest year on year net income movement despite revenue and FX pressures. Against that backdrop, the ongoing buyback and earlier €738 million repurchase completion in mid 2025 underline how capital returns are being maintained even as the bank balances investment in digitalisation with an uncertain operating backdrop.

Yet, while capital is being returned, investors should still pay close attention to ING’s exposure to weaker wholesale loan demand and FX driven income volatility...

Read the full narrative on ING Groep (it's free!)

ING Groep’s narrative projects €24.9 billion revenue and €6.6 billion earnings by 2028. This requires 8.3% yearly revenue growth and about €1.8 billion earnings increase from €4.8 billion today.

Uncover how ING Groep's forecasts yield a €23.30 fair value, in line with its current price.

Exploring Other Perspectives

ENXTAM:INGA 1-Year Stock Price Chart
ENXTAM:INGA 1-Year Stock Price Chart

Ten fair value estimates from the Simply Wall St Community span roughly €21 to €46 per share, showing how widely individual views can differ. You can weigh these against the risk that prolonged macro uncertainty and FX headwinds keep a lid on ING’s revenue momentum and return on equity, and then explore how your own expectations compare.

Explore 10 other fair value estimates on ING Groep - why the stock might be worth as much as 98% more than the current price!

Build Your Own ING Groep Narrative

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.