Latest news with #INGGroup
Bloomberg
4 days ago
- Business
- Bloomberg
JP Morgan, Commerzbank and ING to Support European Defense Bank
JP Morgan Chase & Co, Commerzbank AG and ING Group NV have given their backing to a new Europe-wide bank designed to boost security spending across the region, according to the development group guiding its creation. The banking heavyweights are among the largest finance firms to endorse the Defense, Security and Resilience Bank (DSRB), which is hoping to raise £100 billion ($132.9 billion) to turbocharge rearmament and counter threats, development group chief executive Rob Murray said Thursday.
Economy ME
24-07-2025
- Business
- Economy ME
European Central Bank to hold interest rates amid U.S.-EU trade talks
The European Central Bank is expected to hold interest rates steady on Thursday after seven consecutive rate cuts as it assesses ongoing uncertainty around Europe's trade relationship with the United States. Analysts anticipate the central bank will resume cutting rates in either September or December. Concerns over U.S. tariffs and their impact on the eurozone economy are seen as key reasons behind the central bank 's decision to adopt a cautious, wait-and-see stance for now. Tariff risks prompt wait-and-see approach Over the past year, the European Central Bank has cut its policy rate in half from 4 to 2 percent after successfully bringing inflation under control following the post-COVID-19 surge and the economic fallout from Russia's invasion of Ukraine. With inflation now at the bank's 2 percent target , policymakers are expected to hold interest rates steady this week as they monitor potential trade actions by President Donald Trump's administration, particularly any tariffs that may be imposed on the European Union after the August 1 deadline. Peter Vanden Houte, chief economist at the ING Group, said the ECB's monetary policy is 'in a good place now' and is not restrictive anymore. 'However, the latest economic developments seem to suggest some deflationary pressure: the euro has seen a substantial appreciation since the beginning of the year; at the same time, higher than expected U.S. import tariffs on European goods might kill the timid recovery in the European manufacturing sector — this would plead for some additional stimulus,' he said. Houte also noted that the European Central Bank considered medium-term inflation risks, as inflation may rise again in Germany next year with significant fiscal stimulus measures. Read: UAE, EU free trade talks essential in navigating 'evolving global trade landscape,' says Al Zeyoudi EU-U.S. trade deal in focus The tense and uncertain trade negotiations between Washington and Brussels have complicated policy decisions. President Trump's threat to impose a 30 percent tariff on EU exports to the United States—significantly higher than the European Central Bank's worst-case scenario from last month—has led President Christine Lagarde and the Governing Council to consider more pessimistic forecasts for growth and inflation. However, two diplomats indicated on Wednesday that the EU and U.S. are moving toward an agreement that would set a more moderate, broad tariff of 15 percent on European goods. 'All things considered, a wait-and-see approach remains the most probable course of action for the European Central Bank. With the next potential tariff escalation not expected until Aug. 1, there's little reason for a preemptive rate cut now. At the same time, the strengthening of the euro since the last meeting has not been strong enough to justify a rate cut,' Houte added. Meanwhile, Hadrien Camatte, senior economist for France, Belgium and the eurozone at Natixis, said that the European Central Bank is 'well positioned' to assess the current environment and the risks in the uncertain atmosphere. 'Given the upcoming data by September, we believe that the ECB will have enough information to proceed with a new and final rate cut in next September — we attach a probability of 20 percent to the adverse scenario, paving the way to another 25 basis point policy rate cut at the December meeting should the 30 percent US tariffs be applied, and the European retaliatory measures be not proportioned,' he said.
Yahoo
13-05-2025
- Business
- Yahoo
Progress on share buyback programme
Progress on share buyback programme ING announced today that, as part of our €2.0 billion share buyback programme announced on 2 May 2025, in total 6,750,294 shares were repurchased during the week of 5 May 2025 up to and including 9 May 2025. The shares were repurchased at an average price of €17.97 or a total amount of €121,321,670.87. For detailed information on the daily repurchased shares, individual share purchase transactions and weekly reports, see the ING website at In line with the purpose of the programme to reduce the share capital of ING, the total number of shares repurchased under this programme to date is 7,950,294 at an average price of €17.99 for a total consideration of €143,015,150.87. To date approximately 7.15% of the maximum total value of the share buyback programme has been completed. Note for editorsFor further information on ING, please visit Frequent news updates can be found in the Newsroom. Photos of ING operations, buildings and its executives are available for download at Flickr. Press enquiries Investor enquiries Christoph Linke ING Group Investor Relations +31 20 576 5000 +31 20 576 6396 ING PROFILE ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank's more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries. ING Group shares are listed on the exchanges of Amsterdam (INGA NA, Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N). ING aims to put sustainability at the heart of what we do. Our policies and actions are assessed by independent research and ratings providers, which give updates on them annually. ING's ESG rating by MSCI was reconfirmed by MSCI as 'AA' in August 2024 for the fifth year. As of December 2023, in Sustainalytics' view, ING's management of ESG material risk is 'Strong'. Our current ESG Risk Rating, is 17.2 (Low Risk). ING Group shares are also included in major sustainability and ESG index products of leading providers. Here are some examples: Euronext, STOXX, Morningstar and FTSE Russell. Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that's not. Follow our progress on IMPORTANT LEGAL INFORMATION Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014 ('Market Abuse Regulation'). ING Group's annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union ('IFRS- EU'). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2024 ING Group consolidated annual accounts. All figures in this document are unaudited. Small differences are possible in the tables due to rounding. Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING's core markets, including changes affecting currency exchange rates and the regional and global economic impact of the invasion of Russia into Ukraine and related international response measures (2) changes affecting interest rate levels (3) any default of a major market participant and related market disruption (4) changes in performance of financial markets, including in Europe and developing markets (5) fiscal uncertainty in Europe and the United States (6) discontinuation of or changes in 'benchmark' indices (7) inflation and deflation in our principal markets (8) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness (9) failures of banks falling under the scope of state compensation schemes (10) non- compliance with or changes in laws and regulations, including those concerning financial services, financial economic crimes and tax laws, and the interpretation and application thereof (11) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of Russia into Ukraine and the related international response measures (12) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks (13) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions (also among members of the group) (14) ING's ability to meet minimum capital and other prudential regulatory requirements (15) changes in regulation of US commodities and derivatives businesses of ING and its customers (16) application of bank recovery and resolution regimes, including write down and conversion powers in relation to our securities (17) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders who feel misled or treated unfairly, and other conduct issues (18) changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA (19) operational and IT risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence (20) risks and challenges related to cybercrime including the effects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing (21) changes in general competitive factors, including ability to increase or maintain market share (22) inability to protect our intellectual property and infringement claims by third parties (23) inability of counterparties to meet financial obligations or ability to enforce rights against such counterparties (24) changes in credit ratings (25) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change, diversity, equity and inclusion and other ESG-related matters, including data gathering and reporting and also including managing the conflicting laws and requirements of governments, regulators and authorities with respect to these topics (26) inability to attract and retain key personnel (27) future liabilities under defined benefit retirement plans (28) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (29) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (30) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING's more recent disclosures, including press releases, which are available on This document may contain ESG-related material that has been prepared by ING on the basis of publicly available information, internally developed data and other third-party sources believed to be reliable. ING has not sought to independently verify information obtained from public and third-party sources and makes no representations or warranties as to accuracy, completeness, reasonableness or reliability of such information. Materiality, as used in the context of ESG, is distinct from, and should not be confused with, such term as defined in the Market Abuse Regulation or as defined for Securities and Exchange Commission ('SEC') reporting purposes. Any issues identified as material for purposes of ESG in this document are therefore not necessarily material as defined in the Market Abuse Regulation or for SEC reporting purposes. In addition, there is currently no single, globally recognized set of accepted definitions in assessing whether activities are 'green' or 'sustainable.' Without limiting any of the statements contained herein, we make no representation or warranty as to whether any of our securities constitutes a green or sustainable security or conforms to present or future investor expectations or objectives for green or sustainable investing. For information on characteristics of a security, use of proceeds, a description of applicable project(s) and/or any other relevant information, please reference the offering documents for such security. This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING specifically disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the filing of this document. Many of those factors are beyond ING's control. Any forward-looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason. This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States or any other jurisdiction. Attachment Progress on share buyback programme
Yahoo
02-05-2025
- Business
- Yahoo
ING completes share buyback and announces new programme of up to €2.0 billion
ING completes share buyback and announces new programme of up to €2.0 billion ING announced today that it has completed the share buyback programme announced on 31 October 2024. The total number of ordinary shares repurchased under the programme is 125,848,305 at an average price of €15.84 for a total consideration of €1,993,571,438.95. During the last week of the programme, from 28 April 2025 up to and including 30 April 2025, in total 6,872,040 shares were purchased. These shares were repurchased at an average price of €17.12 for a total amount of €117,683,132.31. Today ING announced a new share buyback programme under which it plans to repurchase ordinary shares of ING Groep N.V. for a maximum total amount of € 2.0 billion. The purpose of the programme is to converge our CET1 ratio towards our target. ING Group's CET1 ratio was 13.6% at the end of the first quarter of 2025, which is well above the prevailing CET1 ratio requirement of 10.76%. The share buyback programme will have an impact of approximately 59 bps on our CET1 ratio. The programme will commence on 2 May 2025 and is expected to end no later than 27 October 2025. The ECB has approved the programme, which will be executed in compliance with the Market Abuse Regulation and within the limitations of the existing authority to acquire a maximum of 20% of the issued shares, as granted by the general meeting of shareholders on 22 April 2025. ING has entered into a non-discretionary arrangement with a financial intermediary to conduct the buyback. For detailed information on the daily repurchased shares, individual share purchase transactions and weekly reports, see the ING website at Note for editorsFor further information on ING, please visit Frequent news updates can be found in the Newsroom. Photos of ING operations, buildings and its executives are available for download at Flickr. Press enquiries Investor enquiries Raymond VermeulenING Group Investor Relations +31 20 576 5000+31 20 576 6396 ING PROFILE ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank's more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries. ING Group shares are listed on the exchanges of Amsterdam (INGA NA, Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N). ING aims to put sustainability at the heart of what we do. Our policies and actions are assessed by independent research and ratings providers, which give updates on them annually. ING's ESG rating by MSCI was reconfirmed by MSCI as 'AA' in August 2024 for the fifth year. As of December 2023, in Sustainalytics' view, ING's management of ESG material risk is 'Strong'. Our current ESG Risk Rating, is 17.2 (Low Risk). ING Group shares are also included in major sustainability and ESG index products of leading providers. Here are some examples: Euronext, STOXX, Morningstar and FTSE Russell. Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that's not. Follow our progress on IMPORTANT LEGAL INFORMATION Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014 ('Market Abuse Regulation'). ING Group's annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union ('IFRS- EU'). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2024 ING Group consolidated annual accounts. All figures in this document are unaudited. Small differences are possible in the tables due to rounding. Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING's core markets, including changes affecting currency exchange rates and the regional and global economic impact of the invasion of Russia into Ukraine and related international response measures (2) changes affecting interest rate levels (3) any default of a major market participant and related market disruption (4) changes in performance of financial markets, including in Europe and developing markets (5) fiscal uncertainty in Europe and the United States (6) discontinuation of or changes in 'benchmark' indices (7) inflation and deflation in our principal markets (8) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness (9) failures of banks falling under the scope of state compensation schemes (10) non- compliance with or changes in laws and regulations, including those concerning financial services, financial economic crimes and tax laws, and the interpretation and application thereof (11) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of Russia into Ukraine and the related international response measures (12) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks (13) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions (also among members of the group) (14) ING's ability to meet minimum capital and other prudential regulatory requirements (15) changes in regulation of US commodities and derivatives businesses of ING and its customers (16) application of bank recovery and resolution regimes, including write down and conversion powers in relation to our securities (17) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders who feel misled or treated unfairly, and other conduct issues (18) changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA (19) operational and IT risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence (20) risks and challenges related to cybercrime including the effects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing (21) changes in general competitive factors, including ability to increase or maintain market share (22) inability to protect our intellectual property and infringement claims by third parties (23) inability of counterparties to meet financial obligations or ability to enforce rights against such counterparties (24) changes in credit ratings (25) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change, diversity, equity and inclusion and other ESG-related matters, including data gathering and reporting and also including managing the conflicting laws and requirements of governments, regulators and authorities with respect to these topics (26) inability to attract and retain key personnel (27) future liabilities under defined benefit retirement plans (28) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (29) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (30) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING's more recent disclosures, including press releases, which are available on This document may contain ESG-related material that has been prepared by ING on the basis of publicly available information, internally developed data and other third-party sources believed to be reliable. ING has not sought to independently verify information obtained from public and third-party sources and makes no representations or warranties as to accuracy, completeness, reasonableness or reliability of such information. Materiality, as used in the context of ESG, is distinct from, and should not be confused with, such term as defined in the Market Abuse Regulation or as defined for Securities and Exchange Commission ('SEC') reporting purposes. Any issues identified as material for purposes of ESG in this document are therefore not necessarily material as defined in the Market Abuse Regulation or for SEC reporting purposes. In addition, there is currently no single, globally recognized set of accepted definitions in assessing whether activities are 'green' or 'sustainable.' Without limiting any of the statements contained herein, we make no representation or warranty as to whether any of our securities constitutes a green or sustainable security or conforms to present or future investor expectations or objectives for green or sustainable investing. For information on characteristics of a security, use of proceeds, a description of applicable project(s) and/or any other relevant information, please reference the offering documents for such security. This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING specifically disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the filing of this document. Many of those factors are beyond ING's control. Any forward-looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason. This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States or any other jurisdiction. Attachment ING completes share buyback and announces new programme of up to €2.0 billionSign in to access your portfolio
Euronews
30-04-2025
- Business
- Euronews
China's manufacturing activity drops to a 16-month low as Trump's tariffs bite
ADVERTISEMENT China's factory activity contracted in April to its lowest level since December 2023, despite ongoing government stimulus efforts, according to official data released by the National Bureau of Statistics on Wednesday. The manufacturing purchasing managers' index (PMI) — a leading economic gauge of business conditions — fell to 49.0 for the month, well below the 49.8 forecast by analysts. A reading below 50.0 indicates contraction. This marks the first monthly decline in China's manufacturing sector in 2025. In March, the PMI stood at 50.5, the highest reading this year, driven by businesses accelerating orders and shipments in anticipation of reciprocal tariffs imposed by US President Donald Trump. 'We expect that April's trade will show the biggest decline in terms of China's exports to the US. This is because importers have been in wait-and-see mode, hoping trade talks might lead to lower tariffs,' analysts at ING Group wrote in a report. Business conditions deteriorate across the board The latest PMI data showed that several key components weakened sharply in April. Both output and new orders recorded significant declines compared with the previous month, with foreign orders tumbling to 44.7 — the lowest level in eleven months. Employment contracted at a faster pace, while buying activity declined for the first time in three months. Furthermore, both input costs and selling prices fell at the fastest rate in seven months. Business confidence also dropped to a seven-month low. Related Trump claims meeting with China after Beijing denies any trade negotiations EU won't decouple from China as condition for reaching trade deal with Trump By contrast, China's non-manufacturing PMI appeared more resilient, registering 50.4 in April — a slight decline from 50.8 in March. Nonetheless, the data marked the 28th consecutive month of expansion in the services sector. Signs of US-China trade de-escalation President Trump implemented sweeping reciprocal tariffs of up to 145% on all Chinese goods in April. In retaliation, Beijing imposed 125% import levies on US goods and pledged to 'fight to the end'. Chinese officials have repeatedly insisted that no trade negotiations are taking place, despite Trump's claims that talks are ongoing. However, there are emerging signs of a potential de-escalation in the trade war. Last week, Trump vowed to 'substantially' reduce tariffs on Chinese goods. US Treasury Secretary Scott Bessent acknowledged that high tariffs on both sides were unsustainable, telling reporters that while 'de-escalation is up to China', the US will not reduce tariffs 'unilaterally'. The Wall Street Journal reported that the Trump administration was considering lowering tariffs on Chinese goods to a range between 50% and 65%. A tiered approach may be introduced, with tariffs of 35% applied to goods not deemed critical to national security, while tariffs of at least 100% would be retained on essential imports from China. Nevertheless, Beijing has shown no signs of readiness to engage in tariff negotiations. Last week, China's Ministry of Commerce stated: 'Any claims about progress in China-US trade talks are purely speculative and have no factual basis.' It urged Washington to 'completely remove all unilateral tariff measures against China, and seek to resolve differences through equal dialogue'.
