ING Plans €2.5 Billion Buyback But Warns Rates Boost May Ebb (3)

ING Groep NV announced a bigger share buyback program than expected even as it warned that interest income may come under pressure.

The Netherlands’ largest bank said on Thursday that it plans to repurchase stock worth as much as €2.5 billion ($2.65 billion), its second big buyback this year. Analysts had expected ING to disclose a program of as much as €2 billion.

ING was able to announce the buyback thanks to its “strong capital generation,” Chief Financial Officer Tanate Phutrakul said in an interview with Bloomberg TV. Still, the ECB’s recent decision to hit pause on rate increases “means ...