Spanish lender BBVA said on Monday that it would begin a EUR 1 billion share buyback programme.
Up to 564.6 million outstanding shares will be bought on the stock market by September 2024, BBVA said in a stock market filing.
Yet, the programme may be suspended at any time, the bank said.
The share repurchase programme was initially announced in July as part of BBVA’s second-quarter results. Back then, the lender reported a net profit of EUR 2.03 billion.
The shares of Banco Bilbao Vizcaya Argentaria SA (BBVA) were last gaining 1.04% (EUR 0.080) to trade at EUR 7.790 in Madrid on Monday, while extending the gains from the previous three market sessions.
The Spanish bank’s total market cap now stands at EUR 46.28 billion.
The shares of Banco Bilbao Vizcaya Argentaria SA have risen 38.27% so far this year, following another 7.31% gain in 2022.
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