BBVA and CaixaBank advance major share buyback programs

Major Spanish financial institutions are progressing with significant share buyback programs.

BBVA has nearly reached 25% execution of the first €1 billion tranche of its new €2 billion repurchase program. In its second week, the bank acquired over 6.24 million shares at an average price of €24.9, totaling approximately €155.51 million. To date, the bank has spent €247 million to acquire more than 9.96 million shares. HSBC is managing the execution through various exchanges, while Kepler Cheuvreux handles acquisitions on the Mercado Continuo. This follows a recent €4 billion extraordinary buyback completed on August 3.

CaixaBank has surpassed the halfway mark of its own share repurchase plan. After fifteen weeks, the program has reached 50.4% execution, with €252.1 million allocated toward the €500 million maximum target. The bank has acquired nearly 20.9 million shares so far. BNP Paribas is managing the program, which is scheduled to last up to six months unless the maximum amount is reached sooner.