ING announced on Friday the partial sale of its stake in TMBThanachart Bank (TTB), reducing its share from 23.1% to 19.5%. This transaction, carried out through the Thai bank's share buyback program, generated a gross revenue of approximately €243M for the Dutch group.
Reduction Through the Thai Partner's Share Buyback
ING has partially divested its stake in TMBThanachart Bank by participating in the share buyback program initiated by the Thai institution. This transaction reduces ING's stake (excluding treasury shares) from 23.1% to 19.5%.
The gross revenue from this operation amounts to approximately €243M, calculated based on the exchange rates at the time of the announcement. According to the Dutch group, this reduction reflects active capital management and a disciplined approach to optimizing its investment portfolio.
No Material Impact Expected on ING's Financial Results
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ING indicates that this transaction is not expected to have a material impact on its income statement, equity, or capital ratios. The group emphasizes that it remains a significant shareholder of TTB and continues to value its longstanding partnership with the institution.
A Historical Asset in Thailand
ING acquired its stake in TTB following its historical involvement in TMB Bank, which later merged with Thanachart Bank to form TMBThanachart Bank. Through this transaction, the group has supported the development of TTB as one of the major financial institutions in Thailand.
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.
