ING announced on August 18, 2026 the reduction of its stake in TMBThanachart Bank (TTB) through a private placement of shares with institutional investors.
Following settlement, the transaction is expected to reduce the group's stake in TTB from 19.5% to 11.6%, excluding shares held by TTB itself. The gross proceeds to ING are estimated at approximately 475 million euros, based on current exchange rates.
This stake originates from ING's historical involvement in TMB Bank, which announced in 2019 a merger with Thanachart Bank to form TTB.
Settlement expected on August 21, 2026
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Settlement of the transaction is expected on August 21, 2026. BofA Securities and J.P. Morgan are acting as placement agents, while ING Corporate Finance Asia is serving as financial adviser to ING Group.
According to the group, the transaction reflects its active capital management and its investment portfolio optimization approach.
Limited positive impact on earnings and CET1 ratio
ING indicates that the transaction should have a slightly positive impact on its income statement and its CET1 ratio.
The statement clarifies that the figures presented are not audited.
Another strong quarter, with continued commercial momentum, in line with our strategy to accelerate growth
Forte dynamique commerciale : croissance des prêts, progression structurelle des commissions, génération de capital solide permettant distributions additionnelles (annonce €1,6 bln dont €1,1 bln de rachats et €500 mln en cash). Résultats resilient avec NII commercial soutenu et fees en forte hausse.
Risks mentioned
Augmentation attendue des exigences réglementaires de fonds propres (CCyB, P2R, buffers sectoriels)
Impact attendu négatif d'environ €0,8 billion post tax lié à la cession prévue de l’activité en Russie
Risque macroéconomique et de marché (taux d’intérêt, change)
Risques opérationnels et réglementaires décrits dans la section 'Important legal information'
Opportunities identified
Poursuite de la croissance des commissions et des clients mobiles (objectif +1 mln mobile primary en 2025)
Repricing des dépôts et réduction des coûts de dépôt (impact 2025 estimé ~€1,1 bln pour zone euro retail)
Déploiement de capital excédentaire dans la croissance profitable et rachats d’actions
M&A sélectif basé sur critères stricts
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
