Will ING (ENXTAM:INGA) Share Buybacks and CFO Transition Reshape Its Long-Term Growth Narrative?

• ING Groep recently announced substantial progress in its €2.0 billion share buyback programme, confirming 4,270,000 shares repurchased between 29 September and 3 October 2025 and a total of 87,884,891 shares bought back to date, ahead of the planned reduction in share capital.
• Alongside the buyback update, ING also revealed that Chief Financial Officer Tanate Phutrakul will step down at the Annual General Meeting in April 2026, initiating a leadership transition at the company.
• We'll now examine how the ongoing capital return through share buybacks may influence ING's investment narrative and long-term growth outlook.

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ING Groep Investment Narrative Recap

To be invested in ING Groep today, you generally need to have confidence in its capacity to generate sustainable earnings despite margin pressures, regulatory demands, and ongoing macroeconomic uncertainty within the European banking sector. The recent update on ING's €2.0 billion share buyback program does not materially alter the primary short-term catalyst for the stock, which remains driven by deposit growth and revenue from its digital banking initiatives; however, it also does not mitigate the ongoing risk from margin compression and FX volatility on earnings.

The most relevant recent announcement is the buyback program progress, as it reinforces management’s commitment to capital return and shareholder value amidst a competitive environment for deposits and lending. This ongoing capital return may be supportive for shareholder confidence, but it does not directly address headwinds in lending growth or margin pressures, especially in key markets such as Germany.

By contrast, investors should be aware of persistent FX volatility, which continues to threaten ING’s net interest income and...

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 a €1.8 billion increase in earnings from €4.8 billion.

Uncover how ING Groep's forecasts yield a €22.48 fair value, a 7% upside to its current price.

Exploring Other Perspectives

Simply Wall St Community users estimate ING Groep's fair value in a wide band from €16 to €43.78, with 12 independent viewpoints represented. That breadth of opinion contrasts with the current focus on ING’s capital return program, a sign that market outcomes can significantly depend on which risks or catalysts take precedence.

Explore 12 other fair value estimates on ING Groep - why the stock might be worth over 2x more than the current price!

Build Your Own ING Groep Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your ING Groep research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.
• Our free ING Groep research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate ING Groep's overall financial health at a glance.

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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.

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