ING today announced a partial reduction of its stake in TMBThanachart Bank (TTB), through the participation in TTB’s most recent share buyback programme. The transaction reduces ING’s stake (excl. Treasury shares) in TTB from 23.1% to 19.5%. Gross proceeds to ING from the transaction amount to approximately €243 million (based on current exchange rate). The transaction reflects ING’s ongoing active capital management and disciplined approach to optimising its investment portfolio. ING remains a significant shareholder in TTB and continues to value its longstanding partnership with the bank. The transaction is not expected to have a material impact on ING’s profit and loss account, shareholders’ equity or capital ratios. ING acquired its stake in TTB following its historical involvement in TMB Bank, which subsequently merged with Thanachart Bank to form TMBThanachart Bank. Through this, ING has supported the development of TTB as one of Thailand’s leading financial institutions. Re-disseminated by The Asian Banker
