BBVA will resume on Friday the execution of its share buyback program. Following the completion of €2.5 billion, it will now proceed with an additional maximum amount of €1 billion. With this, the bank will conclude the share buyback program, which will reach a maximum of €3.5 billion, or up to 10 percent of the share capital. This is one of the largest share buyback programs among European banks to date.
The maximum number of shares to be acquired in this tranche stands at 149,996,808. The execution will start on July 1, 2022 and will end no later than September 29, 2022.
The first tranche of the program, for €1.5 billion, started on November 22, 2021 and ended on March 3, 2022. The total number of shares acquired reached 281,218,710, representing 4.22 percent of the share capital as of that date. The second tranche, which amounted to €1 billion, started on March 16, 2022 and ended on May 16, 2022, following the purchase of 206,554,498 shares, equivalent to 3.1 percent of the share capital at that moment.