ING Groep N.V. (ENXTAM:INGA) commences share repurchases on October 5, 2021, under the program mandated by the shareholders in the Annual General Meeting held on April 26, 2021. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital. The repurchase price will not be lower than €0.01 and not higher than the highest price at which the company’s ordinary shares are traded on Euronext Amsterdam on the date on which the purchase contract is concluded or on the preceding day of stock market trading. The program will be valid till October 26, 2022 or the date of renewal of this authorization, whichever is earlier. On October 1, 2021, the company initiated a Market Repurchase. Under the program, the company will repurchase up to €1,744 million worth of its shares. The purpose of the share buyback program is to reduce the share capital of the company. The repurchases will commence on October 5, 2021 and will run till May 5, 2022.