Driving shareholder returns

In April, shareholders and the European Central Bank (ECB) approved our share buyback programme for a maximum of €3.343 million.

The ECB’s approval was based on the significant strength of the Group’s capital levels and our best-in-class organic capital generation. Combined with the robustness of our liquidity position, these factors ensure we can weather stress scenarios from a position of strength.

The assessment took into account a capital trajectory under conservative assumptions and updated macroeconomic scenarios. It also considered the historical performance of the bank, which is operating at a new profitability floor; a new run-rate for earnings and distribution from which the business can grow further and continue to deliver strong results for all stakeholders.