ING Groep stock gains as buyback nears two-thirds completion

ING Groep stock is trading firmly in early September 2026, supported by strong second quarter figures and a share buyback that has already absorbed nearly two thirds of the planned volume, while analysts become more positive on the Dutch bank.

ING Groep stock (ISIN NL0011794037) is trading firmly around EUR 31.10 as of September 2, 2026 on the Tradegate platform, corresponding to a gain of 2.98 percent on the day and a year to date performance of 29.06 percent according to market data compiled by MarketScreener.

Buyback programme passes the 60 percent mark

A central driver for ING Groep in late August and early September 2026 is the ongoing share buyback programme, which is steadily reducing the free float and supporting earnings per share. According to a summary of ING filings compiled by StockTITAN, the bank repurchased 1,075,000 shares in the week from August 24 to August 28, 2026 at an average price of EUR 30.17, for a total consideration of EUR 32,437,592.50.

Over the course of the programme, the cumulative number of shares bought back reached 23,570,805 by the end of August 2026 at an average price of EUR 27.57, which corresponds to a total consideration of EUR 649,843,206.99 and represents 64.98 percent of the maximum planned programme value according to the same StockTITAN overview.

This progress was also reflected in an official notification of inside information. The Dutch regulator AFM lists a publication dated September 1, 2026 under the statutory name ING Groep N.V. with the title Progress on share buyback programme, confirming that the bank is communicating milestones of the buyback to the market in line with disclosure rules.

Second quarter 2026 figures support the valuation

In addition to capital management, ING Groep benefits from robust operating performance. According to recent coverage on MarketScreener, ING Group delivered a second quarter 2026 result that came in above expectations, prompting several target price revisions upwards.

The same MarketScreener data set indicates that ING Groep generated net income of around EUR 1.60 billion in one of its latest reported periods and a result before tax of approximately EUR 2.47 billion, figures that stand clearly above weaker quarters where net income was negative, such as a period with a loss of EUR 326 million. This swing from a loss of EUR 326 million to net income of EUR 1.60 billion illustrates how earnings momentum has improved markedly for the Dutch bank.

On a segment level, ING Groep shows a diversified revenue base across retail banking, wholesale banking and other activities, with results before tax of EUR 6.80 billion in a strong year compared with EUR 1.01 billion in a weaker period according to the MarketScreener breakdown. For investors, this spread underlines that the current profitability is not solely driven by one-off effects but by more broadly improved margins across the franchise.

In the equity market, this operating strength translates into higher valuation metrics. The Tradegate quotation of EUR 31.10 as of September 2, 2026 compares with a Deutsche Boerse price of EUR 30.20 on August 27, 2026 and EUR 29.80 on August 28, 2026, meaning that the stock has gained EUR 1.30 or 4.36 percent between August 28 and September 2, 2026 based on MarketScreener price history.

Analysts become more constructive on ING Groep stock

Analyst sentiment has also turned more constructive. According to the Newsquawk daily European equity opening news dated September 2, 2026, ING Groep has been upgraded to Overweight from Equal Weight by Morgan Stanley, signaling that the US investment bank now expects the stock to outperform its sector.

This rating change ties in with the recent price performance. With ING Groep up 29.06 percent since the start of 2026 on the Tradegate line according to MarketScreener, the shares have clearly outpaced many traditional European banking peers. For comparison, some diversified holding companies in the region show single digit year to date gains, highlighting that the market is rewarding ING Groep for its combination of profitability and capital return.

The Overweight rating also reflects the bank's progress on regulatory and strategic fronts. Governance remains in focus in the international banking sector, and the appointment of former ING chief executive Ralph Hamers to the board of Scotiabank, announced on September 1, 2026, underlines how experience gained at ING Groep is valued across the industry, even if this appointment concerns a different institution.

Retail banking and digital services as a revenue pillar

Beyond capital measures and analyst opinions, the core business of ING Groep remains an important anchor for the investment case. The bank is well known for its retail banking operations, including current accounts, savings products and mortgage lending in its home market and other European countries, complemented by increasingly digital services that are accessible via mobile apps and online platforms.

MarketScreener's segment overview of ING Groep indicates that retail banking contributes a significant portion of total income and results before tax, with multi billion euro figures in strong years. For example, results before tax across segments have reached EUR 6.80 billion in a strong cycle, compared with EUR 2.47 billion in more recent periods, underscoring how the group generates robust cash flows from its customer franchise.

Customers benefit from features such as instant payments, integrated budgeting tools and access to investment products, while the bank itself uses digital channels to lower its cost base and improve scalability. For investors, the key question is how far this digitalisation can push the cost income ratio down and thereby support a higher sustainable return on equity.

Stock trades actively on Tradegate with solid year to date gains

On the market side, ING Groep stock shows a clear upward trajectory in 2026. The Tradegate quotation of EUR 31.10 as of September 2, 2026 according to MarketScreener implies that the stock is near levels highlighted in other recent coverage, where prices around EUR 30.35 as of August 31, 2026 left ING shares only EUR 0.87 below a 52 week high of EUR 31.22 on Euronext Amsterdam.

This positioning means that even after a year to date gain of 26.20 percent on the Euronext Amsterdam line and 29.06 percent on the Tradegate line, the stock is still trading close to its yearly peak, which some investors interpret as a sign of continued confidence in the bank's outlook. At the same time, the proximity to the 52 week high naturally raises the question of how much further upside is priced in by analysts and whether the strong buyback support can offset potential macroeconomic headwinds.

Volume data from MarketScreener show that trading activity on Deutsche Boerse has at times been modest, with daily volumes in late August 2026 reported as low as two shares, but this is typical for secondary listings of large European blue chips, where the main liquidity pool remains the home exchange. On Euronext Amsterdam, ING Groep is a core component of the national equity index and trades with significantly higher daily volumes, reflecting its importance for institutional portfolios.

ING Groep stock key data

• Company: ING Groep N.V.
• ISIN: NL0011794037
• Ticker: INGA
• Trading venue: Euronext Amsterdam and Tradegate
• Price (as of September 2, 2026, 09:17): 31.10 EUR
• Market capitalization: 28,000,000,000 EUR (as of September 2, 2026)
• Sector / Industry: Financials / Banks
• Index membership: AEX