BBVA has completed the final segment of its share buyback program today as it has reached the maximum target of shares. The framework buyback program, which started in November 2021, is now complete, having achieved its target of buying back 9.6% of its capital. This is one of the largest European bank share buybacks ever conducted.
The final tranche of BBVA's buyback program, involving purchases of approximately €660 million and executed by Citigroup, began on July 1 and ended on August 19, 2022. The total number of own shares acquired was 149,996,808, representing close to 2.3% of BBVA's share capital as of that date.
The first tranche of BBVA's buyback program, involving purchases totaling €1.5 billion, began on November 22, 2021 and ended on March 3. The total number of the bank’s own shares then acquired was 281,218,710, accounting for 4.22% of share capital as of that date. The second tranche, with purchases totaling €1 billion, began on March 16 and ended on May 16. The bank then bought 206,554,498 shares, representing 3.1% of its share capital as of that date.
BBVA has completed its framework buyback program, for approximately €3.16 billion. The bank has purchased a total of 637,770,016 shares, accounting for 9.6% of its share capital, thus achieving the target figure announced for the program.